Finance – Page 20
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NewsPunch Pubs: All divisions remain in growth
The Leased and Tenanted, Management Partnership, and Laine divisions all delivered like-for-like growth, with total revenue amounting to £241.5m
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NewsTonkotsu sees like-for-likes up 11%
The ramen bar concept reported turnover of £13.8m in 2023, up from £11.9m in 2022, for its nearly 18 sites as it continues to launch in new cities
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NewsContinued volume-driven growth for XP Factory
The Boom Battle Bar and Escape Hunt operator has seen continued positive growth across both brands in Q1 FY25
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NewsWendy’s ‘holds steady’ in Q2
The QSR chain reported systemwide sales growth of 8.3% in its International segment as it looks to use the UK as a foothold for further expansion across Europe
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NewsWelcome Break reports successful year
During the peak trading period in 2023, many sites and units broke weekly trading records, delivering an excellent summer for the motorway service area operator
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NewsWingstop performing “extremely well” in UK
Global CEO Michael Skipworth said he’s excited about opportunities in international markets, with the aim of scaling to over 10,000 units worldwide
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NewsStonegate agrees debt refinancing
As part of the deal, funds managed by TDR Capital will make a c£250m shareholder contribution, “demonstrating their continued support and confidence in the future of the business and the Great British Pub”
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NewsMarston’s completes disposal of stake in Carlsberg JV
The pub group announced on 8 July 2024 that it will sell its stake for £206m in cash to a subsidiary of Carlsberg
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NewsJust Eat improves margin in UK and Ireland
Gross transactional value increased by 6% in H1, while lower delivery costs following a delivery model simplification in the UK saw adjusted EBITDA improve by 64%
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NewsWatchHouse increases turnover by 56.8% in FY24
Growth was aided by strong like-for-like House sales along with increasing ecommerce sales, the company said
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NewsMcDonald’s sees global comparable sales drop
The 1% decline was driven by negative comparable sales across all three segments in Q2 2024, reflecting a drop in demand in China and the impact of the Middle East war
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NewsParogon Group looks to further growth
The Staffordshire-based pub and restaurant operator reported total sales of £24m in FY24, a 10.9% increase compared to 2023
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NewsTurtle Bay reports record sales in 2024
CEO Nick Crossley said the new year had started in line with expectations, although the economic environment remains “extremely tough”
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NewsGreggs on track to deliver 140-160 new stores in 2024
In a trading update, the business reported ”continued strategic progress”, with first half sales up 13.8%
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Weekend PressCineworld reveals cinema closures as part of restructuring plan
Sky News reports that the cinema business has confirmed six closures as part of plans to cut jobs and save money
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NewsCineworld set to unveil restructuring plan
Around half a dozen Cineworld cinemas could begin a closure process immediately, Sky News reports
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NewsBrighton Pier Group sales affected by poor weather
In a trading update, the business said the state of the late-night sector continues to present trading challenges in the group’s bars division
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NewsM&B sees inflation continuing to ease
The managed pub and bar company has reported trading ahead of the market, with total sales in the year to date up 7.3%
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NewsTrust Inns posts ‘satisfactory’ performance in challenging market
The 340-strong tenanted pub company, controlled by the family trust of late billionaire Trevor Hemmings, has grown sales in 2024 but saw a squeeze on profits
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NewsStonegate nears debt refinancing with new funds from PE backer
TDR Capital is set to inject around £200m into the pub and bar group, while £2.2bn of bonds are set to be refinanced with a longer maturity and a higher coupon, Bloomberg reports