Finance – Page 179
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Draft House FY lfls up 1%
Draft House founder Charlie McVeigh has told MCA that the group is continuing to eye expansion both in and out of London
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CMA restarts Heineken/Punch investigation
The Competition and Markets Authority has restarted its investigation into Heineken’s proposed acquisition of 1,900 Punch pubs as part of its joint deal with Patron Capital.
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Hakkasan in merger talks
SBE, the privately held hospitality group is in advanced discussions” to merge with the Hakkasan Group
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Bilbao Berria repositioned and restructured
Bilbao Berria, the Spanish restaurant brand, has completed its repositioning and restructuring plans
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Consumer confidence slumping earlier than expected
A leading economist has told MCA that consumer confidence is collapsing earlier than had been expected.
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NewsBrewDog FY turnover up 61%
BrewDog saw turnover rise 61% to £71.9m in 2016 with pre-tax profits up 19% to £3.2m.
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Savills reports on slowdown in UK commercial market
Savills has reported on a slowdown in UK commercial transactions in 2016.
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Analysts corner: Irvine-Fortescue on Brighton Pier Group
Mark Fortescue at Panmure Gordon has said that yesterday’s first-half update from the Brighton Pier Group demonstrated positive progress in both the company’s divisions
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Smith: Novus continues to make significant progress
Toby Smith, chief executive of Novus Leisure, has told MCA that the company has continued to make significant progress
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NewsMarston’s secures new bank facility
Marston’s has announced that it has agreed a new £360m bank facility.
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Zonal sees FY trading profit grow 52%
Zonal Retail Data Systems has reported a 52.2% increase in trading profit for the year to 30 June – to £3.5m.
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HSBC: No silver bullets for TRG turnaround
Ali Naqvi, analyst at HSBC Global Research, has said that nothing in The Restaurant Group’s (TRG) turnaround plan was revolutionary
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Ben’s Canteen completes crowdfunding campaign
Ben’s Canteen, the burger, wine and brunch concept, has completed its fundraising campaign through Crowdcube, after raising £475,000
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Notes secures expansion fund
Notes is set for further growth across the capital after securing a new debt finance deal with OakNorth
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Analyst corner: Irvine-Fortescue on TRG
Sector analyst Mark Irvine-Fortescue looks back The Restaurant Group’s (TRG) update with a note called “Cue-ing straight”
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Loungers lfls up 5.8%
Loungers saw like-for-likes sales rise 5.8% in the last 12 weeks (up to the week ending 5th March)
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Domino’s FY lfls up 7.5%
Domino’s Pizza Group has this morning reported a like-for-like sales increase of 7.5% across its UK estate
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Entertainment spend up 10.8% in February
Consumers spent 4% more year-on-year in February with entertainment spend up 10.8%.
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NewsTRG FY lfls down 3.9%
The Restaurant Group has said all three of its major brands – Frankie and Benny’s; Chiquito and Coast to Coast – underperformed in 2016 but stressed a ‘robust plan’ was in place to turn them around.
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French: Current trading to have remained difficult for TRG
Ahead of its full-year update tomorrow, leading analyst Simon French at Cenkos has said that he expects current trading to have remained difficult for The Restaurant Group (TRG).