Finance – Page 15
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Analysis & Insight‘Still lots of whitespace for Loungers’
Despite continuing to expand at pace – with 17 new sites opened in the 24 weeks to 6 October – analyst Berenberg is confident it still has “significant amounts of white space in which to roll out sites”
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NewsCaviar House & Prunier closes four Heathrow sites
The upmarket restaurant, bar and retail concept has been acquired out of administration, saving a further three airport locations
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Analysis & InsightMarston’s turns round ‘historically disappointing’ cash generation
Analysts said the pub company’s latest trading update was “highly encouraging,” with increasing balance sheet flexibility and the potential for an upward revision of its property valuation
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NewsXP Factory secures new £10m bank facility
The experiential leisure operator said the new revolving credit facility would give it the flexibility and capacity to grow both its Boom Battle Bar and Escape Hunt estates.
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NewsMarston’s achieves 4.8% rise in like-for-likes
The pub operator reported total retail sales for its managed and franchised pubs of +5.8% for the 52 weeks to 28 September 2024, with food sales particularly encouraging.
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NewsAzumi continues to expand portfolio
The global restaurant group, which operates Roka and Zuma in London, has reported £205m in revenue for 2023, along with new additions to its overseas portfolio
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NewsCooks Coffee achieves 26% increase in group sales
The Esquires operator, which trades from 83 coffee shops in the UK and Ireland, further reported a 36% uplift in UK store sales to £11.4m in the 26 weeks to 29 September
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NewsKFC UK delivers 4% increase in turnover
Turnover rose to £294m in 2023 as the QSR giant pushes forward with expansion to reach the 1,500-site mark in the UK
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NewsLoungers continues to outperform market
The all-day café/bar/restaurant operator delivered like-for-like sales growth of 4.7% in the 24 weeks ended 6 October, along with £178.3m in revenue
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Analysis & InsightFriends reunited at Amber Taverns
Bill Priestly, whose firm Epiris has acquired Amber Taverns, previously backed a management buyout of the James Baer-led community pub company in 2010 as part of LGV, when it had just 56 pubs
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NewsBreal Capital and Calveton acquire TGI Fridays
The deal involves 51 restaurants and will secure the future of more than 2,000 jobs, and will see TGI Fridays continue to operate across the UK, with the group hopeful it may be able to secure further locations following discussions with the landlords
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NewsBreal Capital and Calveton close in on TGI Fridays deal
Sky News reports the deal, which could be completed today, is expected to include between 50 and 55 of the chain’s 87 sites and at least 2,000 of its more than 3,000-strong workforce
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NewsWendy’s UK boosts turnover by 50%
The QSR brand made £31.9m in 2023, after doubling the size of its company-owned estate
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NewsAmber Taverns acquired by Epiris
CEO James Baer said the undisclosed investment would enable the community pub operator to enter its next growth phase and support its ambitious expansion plans
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NewsWetherspoons grows sales and profits
The pub company increased sales by 5.7% to surpass the £2bn milestone in 2024, while profit before tax was up 73% to £73.9m
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NewsNWTC announces restructure
The North West operator is closing three loss-marking sites and embarking on a CVA in order to focus on its larger Botanist-branded sites
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NewsInception Group delivers record revenue
The Mr Fogg’s and Cahoots operator achieved a 16.7% rise in revenue to £26.5m in 2023, while forecasts for 2024 suggest a record-breaking year, with projected revenues of £29m
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NewsSSP UK delivers 9% LFL growth
Overall sales increased by 12%, driven by high demand in the air sector, a lower level of disruption in rail, and strong operational execution throughout the peak summer period
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NewsGBK increases turnover to £96.2m
The Boparan Restaurant Group-owned burger chain increased turnover from £49.5m in 2022, after transferring a number of Slim Chickens and Carluccio’s branded sites from other parts of the group
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NewsMarugame Udon grows sales to £17m
Growth at the Japanese noodle restaurant group was driven by the opening of three new restaurants, the performance of 2022 openings, and a +2.4% like-for-like sales increase