Finance – Page 17
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NewsCaffè Nero UK achieves 17% increase in EBITDA
The coffee chain added 29 new shops to its UK estate during FY24, and saw strong sales growth within its delivery, which contributed to a 10% increase in overall sales, to £333m.
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NewsButcombe CEO urges ‘common-sense’ approach to tax hikes
Jonathan Lawson has urged the government to reconsider the pace of tax and wage increases, warning of significant pressure on the sector
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NewsWingstop accelerates international expansion with record growth
The fast-growing chicken brand reported strong international growth in 2024 and believes the UK could support up to 450 sites
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NewsDave’s Hot Chicken explores £800m sale
The California-based fried-chicken chain, which has opened in London with Azzurri Group, is working with investment bank North Point on a sale process, which is attracting interest from private equity firms, Reuters reports
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NewsGordon Ramsay’s UK and US restaurant operations to merge in Lion Capital deal
The agreement gives both parties a 50% stake in the new holding company, with the board and exec team at the almost 100-strong group to be headquartered in London.
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NewsChopstix boosts turnover to £64m
The Asian-inspired QSR chain said it has been able to achieve resilient revenue growth despite a challenged backdrop, with strong sales and tight cost control
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NewsPunch Pubs reports strong trading and profit growth
The pub company remains on track to reach an adjusted run-rate EBITDA of £99.8m, with all three divisions delivering like-for-like growth
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NewsPopeyes UK achieves £2.4m average site sales
After surpassing 65 units, the QSR brand has grown nearly 75% year-on-year, according to an update from parent company Restaurant Brands International
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NewsValentine’s Day bookings up by 7%
Bookings for tables of two are up 15%, although the Galentine’s Day trend may be waning, according to payments company Dojo
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NewsBagel Factory targeting 40 locations this year
The 34-site business, owned by Italian food group Cremonini, reported a “significantly improved” performance in 2023, with turnover up 57.6% to £4.8m, according to its latest accounts.
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NewsFortress acquisition marks ‘new chapter’ for Loungers
Fortress has completed its acquisition of the hospitality group for £354.4m, with Loungers looking forward to accelerating its growth under new ownership
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NewsCosta drives down Coca-Cola’s coffee revenues
Costa Coffee’s performance in the UK led to a 3% decline in full year coffee revenue for parent company Coca-Cola
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NewsMcDonald’s names UK as one of most ‘challenged’ markets
The company’s Q4 results were partly offset by negative comparable sales in some markets, led by the UK, with new initiatives implemented to drive performance
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NewsHospitality spending grows despite consumer caution
Pubs, bars & clubs, and restaurants recorded 2.6% year-on-year growth in January, according to the latest Barclays Consumer Spend report
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NewsCornish Bakery accelerating expansion this year
The business has opened six new sites with “a further five under offer”, since its year end in May 2024, and is on target to achieve a significant uplift in EBITDA, to reach in excess of £5m in FY24/25
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NewsPernod Ricard cuts sales outlook on tariff uncertainty
The French spirits group has been hit by slump in Chinese demand for cognac following anti-dumping measures
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InterviewsLoungers deal ends years of frustration over share price
Management did “all we could” to boost the Lounge and Cosy Club operator’s standing on the public markets, but in the end its ‘take private’ deal with Fortress offered the best result for shareholders, chairman Alex Reilley tells MCA
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NewsRed Engine reports record-breaking Q4
The operator behind experiential concepts Flight Club and Electric Shuffle announced sales of £25.3m, up 24% on 2023, with plans to reach 39 venues by year end
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NewsKFC UK sales up 5% in Q4
UK trading in the fourth quarter was an improvment on Q3’s 6% sales dip, while Yum! Brands reported KFC’s UK sales were down 1% for the full year
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NewsKeystone Brewing Group acquires North Brewing Co
The investment vehicle, which was formed out of Breal Capital, added the Fourpure and Magic Rock brands to its growing portfolio last week