Finance – Page 16
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NewsHostmore reports progress on cost reductions
The TGI Fridays UK operator reported revenue of £93.6m for H1 2023, with cost reductions alongside operational and portfolio management reducing losses
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NewsRed Engine doubles turnover
The Flight Club operator reported record revenues of £53.8m in 2022 - year-on-year growth of 118% - and gross profit of £32.9m
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NewsMarket halls ripe for consolidation and growth
Having originally made his money in the property market, Market Halls CEO Andy Lewis-Pratt tells Dominic Walsh he’s come out of retirement with a mission to become the UK’s biggest food hall operator
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NewsDeliveroo launches £250m share buyback
The delivery company is offering between 115p and 135p for A Ordinary shares shares via a tender offer, which it says represents a premium of 6% to 24%
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NewsM&B outperforms market in Q4
Like-for-like sales were up 9.7% in the fourth quarter, driven by sustained growth in food and drink volumes
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NewsHydes delivers record turnover
The Salford family brewer and pub operator grew sales by 20% in 2022/23 to £34.1m, despite challenging trading conditions
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NewsXP Factory achieves double-digit like-for-like growth
The Escape Hunt and Boom Battle Bar operator reported £18.7m revenue in H1 2022, with like-for-like sales growth of c20% across both brands
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NewsTasty losses widen
The Wildwood and Dim T operator reported a 0.9% increase in revenue to £21.7m, with loss after tax increasing to £2.7m in H1 2022
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NewsShepherd Neame posts record revenue
The 296-strong Kent-based brewer and pub operator reported revenue growth of 9.7% to a record £166.3m, with an increase in underlying profits
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NewsTriple Two Coffee to enter administration
Parent company Cooks Coffee said the 11-strong cafe franchise has been adversely impacted by the current market environment
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NewsTattu has ‘exceptionally strong’ year
Premium restaurant operator Permanently Unique grew revenues by 76% to £26.8m in 2022 from five locations
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NewsInception Group turnover up 80%
The experiential bar operator posted sales of £22.7m in 2022, with headline trading holding up “very strongly”
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NewsBrighton Pier Group maintains ‘cautious’ outlook
The bars and leisure operator reported revenue of £16.2m in its interim results, followed by weaker than expected summer trading
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Analysis & InsightUK recession risk deepens but consumers stay unfazed
Britain’s economy displayed clear recession signals, as the Bank of England called a halt to its long run of interest rate increases that have turned the tide on inflation, Reuters reports
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NewsPatty & Bun CVA approved
A majority of 84.3% creditors voted in favour of the Company Voluntary Arrangement, with 15.6% against, after some modifications were made
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NewsComptoir counts cost of ‘exceptional challenges’
The Lebanese-inspired restaurant group blamed cost of living pressures, inflation, rail stikes, poor weather and a lack of state support for a decrease in profits
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NewsSSP sees strong underlying trading momentum
In the UK and Ireland, sales are expected to strengthen to c.100% vs 2019, reflecting the improving performance and higher mix of the air channel
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NewsCity Pub Group targets 5 sites a year
The pub company, which reports H1 revenues are up 21%, is currently negotiating on a number of acquisitions, as part of a measured, organic approach to growth
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NewsAdnams: ‘Trading conditions continue to be uncertain’
The brewer, distiller, and pub operator reported sales in the first half of the year were level with 2022, at £30m
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NewsArc Inspirations delivers £40.8m in sales
The premium bar operator delivered annual sales growth of 7.5% for the year to 26 March 2023, with plans to open four sites - including a London debut