Finance – Page 166
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Lfls up c7% at Banana Tree
South-east Asian restaurant group Banana Tree saw its like-for-like sales increase by c7% in the five months from May to September. The company, which opened its ninth site last week in Chelmsford, saw like-for-like sales rise 10% in September alone. “With a backdrop of rather depressing hospitality news, we are ...
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JW Lees confirms FY revenue up 5.6%
JW Lees managing director William Lees-Jones has said the 2017 financial year laid the foundations for the next chapter of the family business.
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Analysts corner: Jack on Domino’s
Leading analyst Douglas Jack, of Peel Hunt, has said he believes Domino’s like-for-like sales should be starting to strengthen.
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NewsNo1 Lounges seeks new PE backing to double in size
Phil Cameron has told MCA he is assessing his options for No1 Lounges and hopes to bring in a new private equity investment to double the size of the group.
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Stonegate strengthens acquisition fund
Stonegate agreed funding for its proposed takeover of Revolution Bars Group earlier this summer through Barclays, MCA understands.
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Analysts corner: Jack on Revolution
Leading analyst, Douglas Jack, of Peel Hunt, has said that after a restatement of prior year numbers, Revolution Bars Group should now be seen as having generated “sector-leading growth”.
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NewsRevolution FY lfls up 1.5%
Revolution Bars Group, grew like-for-like sales by 1.5% in the year to 1 July.
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NewsGreggs Q3 lfls up 5%
Greggs has reported a 5% increase in like-for-like sales (2016: 2.8%) across its company-managed shop estate for the 13 weeks to 30 September
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D&D reports “lousy couple of months of trading”
D&D London has reported “a lousy last couple of months” of trading amid poor summer weather and growing political and economic uncertainty
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NewsJamie’s Italian posts FY loss
After a £10.9m hit from closing six sites at the start of this year, Jamie’s Italian slumped from a full-year pre-tax profit of £2.4m to a loss of £9.9m
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NewsBe At One refinances; ends sales process
Be At One has completed a £20m refinancing, and ended the sales process it started earlier this year
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Hospitality outperforms wider economy
Distribution, hotels and restaurants grew by 3.5% in July compared to the same month in 2016, and by 3.1% in Q2 2017 on the previous quarter.
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Japanese sushi giants merge for overseas expansion
Two of Japan’s biggest conveyor-belt sushi restaurant chains are joining forces to take advantage of sushi’s growing popularity and to expand overseas.
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NewsAnalyst corner: HSBC on TRG
Shares in The Restaurant Group (TRG) fell 11½p to a seven-month low of 292½p during early trading yesterday after a Reduce note from HSBC
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Bakkavor prepares for £1.5bn IPO
Bakkavor, the food service company and owner of PizzaStorm, is preparing for a stock market flotation that will value it at up to £1.5bn.
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NewsRichoux: No consistent improvement in trading conditions
Richoux this morning said that it currently sees no consistent improvement in trading conditions from those prevailing when it last reported in April this year
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NewsThe Herbert Group strengthens KFC estate
The Herbert Group, which operates the largest KFC franchise in central Europe, has agreed the terms of a £27m refinancing deal
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Piri Piri Express secures investment for expansion
Piri Piri Express plans to add nine sites to its current three-strong estate over the next 12 months, after securing new investment
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Hall & Woodhouse sees FY turnover fall 0.8%
Hall & Woodhouse has reported sales down 0.8% for the year to 28 January.
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NewsFY lfls up 7.6% at Leon
Leon, the healthy, fast-food chain led by John Vincent, reported a 7.6% increase in like-for-like sales in 2016