Finance – Page 17
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NewsRedCat Pub Company to invest £8m in pub and inn estate
The cap ex programme will be rolled out over the next six to 12 months, with 18 pubs and six coaching inns due to benefit from investment in areas including team training and the venue’s offer
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NewsFive Guys UK revenue surges past £300m
The group reported £316.4m in revenue in 2023, alongside total revenue of £542.9m for its European operations as it continues its rollout across the continent
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Weekend PressIf you want to make fat profits… Take a bite out of these fast-food giants
Change is on the menu for McDonald’s, Starbucks and the other players in the fast food market, This is Money reports
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NewsShoryu Ramen sees ‘light at the end of the tunnel’
The Toridoll Holdings-backed Japanese restaurant concept expects to break even in 2024, and surpass pre-pandemic sales in 2025
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NewsCaffè Nero hails ‘hugely successful’ Q1
UK sales grew by 12.5% driven by strong demand for cold drinks and its summer sweet range, including its viral maritozzi breakfast brioche cream buns
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NewsPho sales top £70m
The TriSpan-backed Vietnamese restaurant group achieved like-for-like sales growth of 5.2% in FY24, with two openings in the pipeline
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NewsHostmore files for administration and suspends listing
The TGI Fridays operator said a sales process for its corporate stores remains ongoing, but Hostmore is unlikely to recover any value for its ownership
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NewsWells & Co COO to depart amid restructure
Shirley Couchman’s departure is a “joint decision that comes as part of restructuring efforts to align the business with the current market landscape,” CEO Peter Wells tells MCA
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NewsAdministrators ‘on standby’ at Hostmore
Restructuring experts at Teneo have been tasked with leading the search for potential buyers of TGI Fridays UK restaurants, The Telegraph reports
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NewsComptoir delivers strong revenue growth
The operator of Comptoir Libanais and Shawa achieved a 7.4% increase in group revenue for the six months ended 30 June 2024, to £15.9m, but saw an overall loss before tax for the year of £2.2m.
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NewsPret shareholders raise £250m of new capital
News of the raise, which will serve to reduce certain banking facilities and improve liquidity, comes as Pret reports strong sales growth of 10% for the six months to 30 June 2024, driven by global expansion.
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NewsCubitt House achieves 22% like-for-like sales growth
The uplift comes as the pub and restaurant operator reported £19.9m in revenue during 2023
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NewsArc Inspirations turnover nears £50m
The 21-strong bar group is actively pursuing opportunities in London, Cardiff, and Scotland, with four locations in the pipeline as it endeavours to reach the 50-site mark by 2030
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NewsKnoops plans 'controlled, profitable expansion'
The chocolate drinks retailer, which posted 2024 like-for-like revenue up 29%, is launching a £5m EIS fundraise on Crowdcube to fund upcoming openings in Belfast, York and Newcastle
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NewsInn Collection ‘further embraces scalable mindset’
The pub with rooms operator expects to see further growth in sales and EBTIDA, as it reports turnover of £52.6m in 2023
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NewsOn-trade remains challenged for Fever-Tree
The drinks supplier’s UK revenue dropped 6% to £50.9m in H1 FY24 against poor weather and a subdued consumer backdrop
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NewsSalt Bae restaurant sees turnover drop
The Nusr-Et Steakhouse in London’s Knightsbridge reported £9.3m in turnover in 2023, down from £13.6m in 2022
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NewsCooks Coffee delivers 23% sales uplift
The Esquires operator further reported a strong pipeline of new stores to add to its 83-strong estate across the UK and Ireland
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Analysis & InsightPizza Hut Europe returns to profit
Profit before tax stood at £12.3m in 2023, comparing to a loss of £139.4m the prior year as the group undergoes a ‘brand reset’
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NewsJoseph Holt reports ‘steadily improving’ trading
The Manchester-based brewer and pub operator achieved £73.5m turnover in 2023, as it prepares to launch its new hotels arm