Finance – Page 18
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NewsCost increases boost turnover at Pret franchise
Chesterford Group’s pre-tax profits fell in 2022 due to the costs of setting up the Pret franchise business subsidary, Joy Brands
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Newsitsu stores break £100m sales milestone
Founder and CEO Julian Metcalfe said “20 mega new sites” are set to open by 2024, serving more hot food options, while the brand has signed a new deal with Costa franchisee Scoffs to open in Exeter
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NewsSubway to be acquired by Arby’s owner
Roark Capital is expected to finalise a $9.6bn deal for the sandwich chain as early as this week, the Wall Street Journal reports
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NewsHall & Woodhouse reports ‘encouraging’ year to date
The 180-strong pub operator and brewer reported strong like-for-like growth in 2023, along with a recovery in underlying profit before tax
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NewsJamie Oliver Group reports strong results ahead of return to UK restaurant scene
The group reported revenue of £29.7m in 2022, as the chef prepares to launch Jamie Oliver Catherine Street in November and grow to 200 restaurants globally by 2027
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NewsShaftesbury Capital secures new £200m loan
The landlord has signed an agreement with Aviva Investors for a new 10-year loan, and will consider the inclusion of sustainability-related metrics as part of the agreement
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NewsCaffè Nero trading at 112% of pre-pandemic levels
Caffè Nero has reported strong like-for-like growth between 1 March and 31 May 2023, with delivery and app sales continuing to grow
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NewsWendy’s aims for 40 in UK
Wendy’s UK business has seen like-for-like sales growth, with the aim of operating c40 sites by the end of the year, according to chief executive Todd Penegor
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NewsLeon focused on growth in home market
The healthy food-to-go chain has seen ‘continual improvement’ in sales throughout 2022 and the first half of 2023, with management confident sales will recover further
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NewsProfitability ahead of expectations for Deliveroo
Deliveroo has reported ‘significant progress’ on profitability and cash flow in H1 2023, with growth in the UK & Ireland outperforming international
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NewsRoadchef sees visitor numbers recover
Roadchef saw over 47 million visitors to its services in 2022, while opening a McDonald’s drive-thru and pasta counter with Coco di Mama
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NewsPunch reports strong performance across divisions
Punch Pubs has updated on the 12 weeks ended 21 May 2023 (Q3 FY23), with total revenue of £75.8m and underlying EBITDA of £20.3m
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NewsPapa Johns acquires 27 new sites
The pizza group’s UK corporate estate now stands at 118 restaurants, with the company aiming to follow a similar owner-operator model to its home US market
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NewsDirectors buy True North Brew Co out of administration
Founder and MD Kane Yeardly acquired the 12-strong pub operator, brewer and distiller, which is based in Sheffield
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Analysis & InsightTDR Capital: ‘These guys are ninjas, I wouldn’t bet against them.’
Following the private equity group’s £50m backing of Popeyes UK, MCA looks at the background of the investor behind Stonegate, EG Group and Gondola Holdings
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NewsShaftesbury Capital: ‘Heart of West End remains attractive’
The landlord has reported “excellent momentum” across its portfolio, with high footfall and positive trading conditions despite the economic climate
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NewsYum! Brands sees growth in KFC UK sales
KFC UK sales were up 10% year-on-year in the second quarter and up 7% in the year to date, while sales remained stagnant for Pizza Hut Europe
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NewsTrust Inns sees profits recover
The Lancashire-based operator, which has an estate of c340 pubs, reported turnover of £38.3m for the year to April 2023
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NewsLiberation Group reports strong first half
The group’s H1 2023 trading update saw overall like-for-like (lfl) sales up 8.1% within its managed pub estate, with accommodation performing particularly well
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NewsHeineken UK revenues up, volumes down
Beavertown became the largest craft beer brand by value share of total beer, building scale and momentum in the on and off trade