Finance – Page 21
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NewsYoung’s sales up 26%
Outgoing chairman Stephen Goodyear, who addresses Youngs’ AGM for for the final time today, says the premium pub company’s strategy is delivering “industry leading results”
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NewsTortilla revenues drop in H1 amid new strategic vision
The fast-casual Mexican group says it has seen “early signs of progress” against a newly outlined strategy to improve UK profitability and invest in brand growth
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NewsMarston’s disposal of Carlsberg JV a ‘transformational transaction’
In a trading update, CEO Justin Platt said selling its 40% stake in Carlsberg Marston’s Brewing Company marks a pivotal step to become a focused, pure-play pub company
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NewsHow Taco Bell’s biggest UK franchise collapsed into administration
T Bello Group, which was sold to Karali Group in a pre-pack for £3.5m saving 46 Taco Bell restaurants, suffered “severe liquidity challenges” after a rapid debt-fuelled expansion
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NewsJW Lees reports another record year
The brewer and pub operator has announced revenues of £96.8m, with a view to invest in its existing estate while proactively seeking new opportunities
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NewsArc Inspirations reports bumper sales during Euros
The bar business’ five BOX-branded venues saw sales grow more than 300% during England matches, with group like-for-like sales growth of 79%
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NewsRoadchef returns to profit
The motorway services operator is looking to increase the diversity of its offer and has expanded its partnership with Coco di Mama, while opening new McDonald’s drive-thrus
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NewsHeartstone benefits from ongoing demand for staycations
The South-West business said an increase in revenues to £9.6m in 2023, was testament to the decision to sell smaller pubs and invest in additional guest bedrooms
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NewsCineworld opens talks with landlords amid closure plans
Property owners Landsec and Legal & General are said to be in active discussions with the company about a restructuring plan, Sky News reports
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NewsBrewhouse & Kitchen prepares for further growth
The brewpub operator has completed a rights issue to fund its next stage of growth, and reported £16.7m in turnover for FY23 despite ‘mixed progress’ during the year
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NewsSpaghetti House reports ‘difficult’ year
The group achieved £10m turnover in the year to 31 March 2024 but achieved its best ever gross profit margin of 77%
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NewsThe Coconut Tree enters into CVA process
The Sri Lankan restaurant and bar group has eight sites across the West of England with annual sales of £6.7m
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NewsMarket Taverns plans further acquisitions
The London pub business continued to rebuild trade after the pandemic with record turnover in 2023, and is actively looking for new sites to add to its estate
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NewsHub Box sold in pre-pack to founder
The future of the South West-based burger chain and its 10 restaurants has been secured after administrators sold the business to a new company led by founder Richard Boon
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NewsFatto a Mano secures new investment
The five-strong Brighton-founded pizzeria group has secured growth capital from family office investment firm Middleton Enterprises
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NewsSSP grows UK sales by 12%
The business said the positive performance in Q3 reflects good passenger numbers in the air sector and a lower incidence of rail industrial action compared to 2023
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NewsPaul rolls out Le Café rebrand
Paul will move its St Pancras store to the more coffee-focused format, with plans for a further store rebrand in 2024
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NewsWetherspoons reports record sales figures
A recovery in sales and profits has continued in the current financial year, with sales per pub approximately 21% higher than pre-pandemic levels, chairman Tim Martin said
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NewsKrispy Kreme continues to expand UK presence
The doughnut business plans to open more shops in quality, high profile locations in 2024, and invest further in digitally enhanced cabinets
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NewsLoungers achieves record year of sales, profits and openings
The Lounge, Cosy Club, and Brightside operator reported industry-leading like-for-like sales growth of 7.5%, with revenue growing 24.7% year-on-year to £353.5m - demonstrating its target of 665 sites remains a ‘conservative’ one