Finance – Page 210
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News
SABMiller requests more time for talks with ABInBev
The board of SABMiller has asked for an extension to the deadline for talks over ABInBev’s proposed £68bn takeover of the brewer.
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Heineken beer volumes up 5.4% in Q3
Heineken has reported consolidated beer volume up 5.4% in Q3 with volume growth in the UK in ‘mid-single digits’, driven by the off-trade.
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NewsElectra reports asset value up £308m in 2015
Private equity group Electra Partners has said the valuation of TGI Fridays has increased by 17% and Original Bowling Company by 103% since its investments in the companies.
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NewsPho on track to post FY turnover of c£20m
Pho, the Vietnamese restaurant group, is on track to post turnover of c£20m in its current financial year
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NewsFamous Brands UK performance “satisfactory”
Famous Brands has said that its UK operation, which includes its 90-strong Wimpy estate, delivered a “satisfactory” performance in the six months to the end of August
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Draco Pub Co secures £4m funding
Rob Greacen, managing director of Draco Pub Co, has told M&C the company’s £4m refinancing deal will allow it to ramp up its expansion plans – with a deal close on its fourth site.
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Rollo: Expect strong trading for Enterprise Q4
Leading analyst Jamie Rollo, of Morgan Stanley, has said he expects Q4 trading for Enterprise Inns to have been ‘solid’ but has warned that its strategic plan will lead to significant overheads.
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Rollo: Blurring format boundaries an opportunity and threat
Leading analyst Jamie Rollo at Morgan Stanley has said that the blurring of the boundaries between formats is an opportunity as well as a threat for Greene King
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NewsGreene King to reduce number of brands
Leading analyst Jamie Rollo at Morgan Stanley believes that Greene King’s main thrust for achieving revenue synergies on the back of its acquisition of Spirit will come from simplification and improvement of its brands
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Pernod Ricard reports sales up 3% in Q1
Pernod Ricard has reported organic sales growth of 3% for the first quarter to €2.2bn.
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Ells: Chipotle London Wall is breaking records
Steve Ells, chairman of Chipotle, has revealed that the group’s latest site in the UK, at London Wall, has been breaking peak hour throughput records
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NewsDabbous raises expansion fund
Ollie Dabbous has secured over £3m of funding as he looks to open further sites in London
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News
TDR backs EuroGarages in £1.3bn deal
EuroGarages has secured the backing of investment firm TDR Capital in a deal which values the business at £1.3bn
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NewsCosta H1 lfls up 4.4%
Costa Coffee grew like-for-like sales in the UK by 4.4% in the six months to 27 August
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Analysis & InsightThe ingredients for success
What is the secret of a successful restaurant roll-out? Private equity firm Bowmark Capital recently achieved nearly four times cost with its sale of Las Iguanas. Bowmark partner Ron Pearson explains the background to the deal and looks at what made that investment so lucrative
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Small turnover rise at Wellington
Free-of-tie pub operator Wellington Pub Company has reported a slight rise in turnover and small dip in pre-tax profits.
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NewsLe Bistrot Pierre reviews its options
Le Bistrot Pierre has appointed advisors to review its options, which could result in the sale of a significant stake in the business that is valued at between £20m-£25m
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Booker non-tobacco lfls up 0.6% in H1
Wholesaler Booker Group has reported like-for-like non-tobacco sales up 0.6% for the 24 weeks to 11 September.
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NewsUK Q3 lfls up 14.9% at Domino’s
Domino’s Pizza has reported a 14.9% rise in third quarter like-for-like sales, with system sales up 20.7% to £200m.
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News
USS acquires Moto
Universities Superannuation Scheme Ltd (USS) has announced it has reached two separate agreements to acquire 100% interest in the Moto Group, the largest motorway service station operator in the UK, for an undisclosed sum. The UK’s largest pension fund has entered into a definitive agreement to acquire 82.5% interest in ...