Finance – Page 177
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News
Q2 sales down across Starbucks EMEA
Starbucks has reported a 1% decline in like-for-like sales in its second quarter across its EMEA division
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News
Genuine Dining Co acquires Feng Sushi
The Genuine Dining Co has acquired Feng Sushi, the London-based Japanese sushi restaurant and delivery company
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NewsPret FY sales up 15%
Pret A Manger, the Bridgepoint-backed chain, saw sales rise 15% to £776.2m in the year to 29 December with like-for-like sales growing 4.8%. EBITDA grew 11% to £93.2m.
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McDonald’s to offer UK staff fixed contracts
McDonald’s UK yesterday announced that it would offer its UK workforce a choice between a flexible contract and a new guaranteed hours’ contract
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Soho House agrees refinancing
Soho House has signed an agreement with Permira Debt Managers to refinance its existing debt and support its future growth
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Investment acquisition of Jamie’s Italian, Bristol
A private investor has completed the acquisition of 87-89 Park Street, Bristol for £2.95m in an off-market transaction
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NewsCosta FY lfls up 2%
Costa’s like-for-like sales grew 2% in the UK for the year to 2 March but there were signs of slowing spend on the high street in Q4.
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News
Analyst corner: Berenberg on Whitbread
Stuart Gordon and Najet El Kassir of Berenberg explain why Whitbread’s two market leading brands provide it with plenty of momentum, as the group gears up to report its full-year results next week.
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NewsCirrus secures c£22m funding package
Cirrus Inns has secured c£22m of new funding to aid its further growth
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Hammerson signs £360m revolving credit facility
Shopping centre landlord Hammerson has signed a £360m revolving credit facility.
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Crowdcube sees 108% increase in investors for Q1
Crowdcube has reported a 108% year-on-year increase in the number of new investors on its platform for Q1 2017.
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NewsHeineken reports reduction in UK volumes
Heineken has this morning reported that its UK volumes were down by a “low single-digit amount” during its first quarter
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News
French: General Election announcement to provide short-term headwinds
Yesterday’s General Election announcement is likely to provide short-term headwinds in the hotel and travel sector
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OpinionWhere are the next M&A deals?
The Government has thrown many obstacles at pub operators from Brexit, the introduction of the national living wage, the market-rent-only (MRO) option and a new tax on soft drinks. Peter Hansen gives us his expert view on the market and his advice on the possibility of future M&A activity
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NewsCirrus acquires three London pubs
Cirrus Inns, the investment vehicle launched to back a premium estate of freehold pubs with rooms, has acquired all three pubs operated by the London-based DM Group, MCA has learnt.
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News
Starbucks blames profit drop on Brexit
Starbucks UK has reported a 74% drop in profits from £25.7m to £6.6m which it blamed on “significant economic and geopolitical headwinds” such as Brexit affecting sales.
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News
Tenpin announces IPO
Tenpin, the UK’s second-largest bowling group, formerly known as Essenden, has announced the successful pricing of its IPO, giving it a market capitalisation of £107m.
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News
Consumer spending up 4.3% in Q1
Consumer spending rose 4.3% year-on-year in the first three months of 2017, with entertainment spend up 10.4%, the latest data from Barclaycard has shown.
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Analysis & Insight
BrewDog- more than just lucky punks
BrewDog’s announcement of a £231m investment form a US private equity firm at the weekend prompted praise and dismay in equal order. It is the latest in a series of moves by the Scottish brewer and pub operator which has seen them accused of relinquishing their ‘punk’ status and becoming part of the establishment. James Wallin asks whether the self-proclaimed rebels really have sold out and what the latest chapter in the BrewDog story can tell us about crowdfunding and the craft beer movement.
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NewsLaine acquires New Pub Co
Laine Pub Company, the Brighton and London-based group, has acquired the New Pub Company from founder Peter Linacre, in a deal thought to be worth just under £4m, MCA has learnt.