Finance – Page 15
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Analysis & InsightSpring Budget: Warning over growing cost pressures amid lack of targeted support
Hospitality leaders have voiced concern following the Spring Budget, which did not include support for the sector despite calls for relief on business rates and employer NICs
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NewsFever-Tree reports FY24 growth with on-trade recovery
The mixer brand has reaffirmed its commitment to hospitality and on-trade partnerships as it posted improved performance in the UK
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NewsStrong 2024 fuels growth at Red Engine
The team behind Flight Club made combined sales of £118.3m in 2024, and plans to take its global estate to 84 sites by the end of 2030
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NewsJDW: Labour cost hit will have ‘disproportionate impact’ on pubs
Chairman Tim Martin said increases in national insurance and labour rates will cost the company £60m a year, approximately £1,500 per pub per week.
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NewsNorges Bank takes on 25% share in Shaftesbury Capital estate
The West End landlord has sold a 25% share to the Norwegian sovereign wealth fund for £570m, in a deal including landmarks like the Covent Garden Piazza
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NewsBurger King UK seeks refinancing
Sky News reports the Bridgepoint-backed QSR chain is working with DC Advisory, seeking an additional £40m of borrowing capacity
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NewsShepherd Neame: Budget will cost £2.6m
The family brewer and pub operator is planning to raise prices, review its capex spending, and transfer 10 pubs from retail to tenancy to improve returns
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NewsCornish Bakery exploring sale of the business
The bakery coffee shop chain has appointed advisors at Tamweel Capital to oversee a sale of the 66-shop business.
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NewsBroadwick Group acquires Camm & Hooper
The acquisition of the events company has further expanded Broadwick’s portfolio of venues, event services, and live entertainment
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NewsWestmorland invests heavily into food offer
The motorway service area operator reported a drop in turnover due to the economic backdrop and lower fuel prices, but this was offset by increased trading in its non-fuel business
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NewsDeliveroo achieves profit milestone
The delivery company achieved a full year of profit for the first time of £3m in 2024, compared to £32m loss in 2023
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NewsFuller’s agrees new £185m banking facility
The facility provides the pub company with “significant headroom” to pursue growth through acquisitions; while it is launching another around of share buybacks of up to one million ‘A’ shares
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NewsLandmark Brighton venues acquired
Concorde 2 and Volks, which specialise in live music and late night events, have been acquired by independent music company All Things Considered
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NewsOperators turn to promotions and tech to drive growth
Hospitality businesses are focusing on seasonal promotions, events, and special offers to maximise bookings and offset rising costs in 2025, according to ResDiary
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NewsNew recycling rules could cost pubs £60m a year
The BBPA has warned that new Extended Producer Responsibility rules will force pubs to pay twice for the recycling of glass bottles, adding £60m in extra costs
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NewsHospitality confidence falls to two-year low
Confidence has dropped to its lowest level since October 2022 as the sector braces for £3.4bn in additional annual costs from April, according to CGA by NIQ
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NewsDomino’s delivery channel returns to growth
The pizza chain recorded a marginal dip in group revenue to £664.5m in FY24, with like-for-like sales growth of 0.7% over the year
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Analysis & InsightM&A: Significant number of PE businesses looking to transact
Despite the Budget, Graeme Smith and Craig Rachel of AlixPartners see an improving picture as the consumer spending outlook improves, particularly in the critical younger demographic who benefit most from the increase in minimum wage
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NewsBill’s hails ‘remarkable turnaround’
The Richard Caring-backed all-day casual dining concept has doubled group EBITDA to £11.2m in FY24 from £5.5m in FY2022
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Weekend PressGreggs is no longer on such a roll
Before last year, the bakery chain had enjoyed three years of double-digit like-for-like revenue growth, Natalie Thomas writes in the FT