Finance – Page 26
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NewsGreggs reports strong progress across channels
Delivery sales, evening trade, and participation in the Greggs app all supported transaction volume growth, with total sales of £693m in the first 19 weeks of 2024
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NewsAdnams sees 11% sales uplift
The Suffolk-based brewer and pub operator attributed growth to increasing volumes in beer and spirits, with a strong contribution from both its on-trade and off-trade business
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NewsTurnover rises 21% for Gordon Ramsay Restaurants
As the group prepares to make its biggest hospitality investment yet at 22 Bishopsgate, it reported 12 months of positive like-for-like sales in the year to August 2023
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NewsPizza Pilgrims gears up for Scottish and Welsh debuts
The pizzeria group is opening a further four sites this calender year, in Euston, King’s Cross, Cardiff and Edinburgh, as it reports revenues of £28.7m for 2023
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NewsSoho House sees substantial membership growth
The private members club has seen a 20.4% increase in membership revenue, whilst in-house revenue saw a slight downturn year-on-year
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InterviewsPunch Pubs sees ‘more stable’ operating environment
This has resulted in strong EBITDA growth in Q2 2024, with more to come, according to CEO Clive Chesser and CFO Steve Dando
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NewsPunch delivers revenue and EBITDA growth
Underlying EBITDA for FY24 of £85.6m is now ahead of pre-pandemic levels; while the company is seeing “strong returns on investment” from its Managed Partnership division, with 70 more pubs identified for conversion
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NewsKrispy Kreme sees fall in UK volumes
Lower volumes more than offset strong sales in Canada and Mexico, leading to a decline of 50 basis points in adjusted EBITDA margins for the international segment
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NewsPapa Johns advancing efforts to optimise UK business model
Interim CEO Ravi Thanawala has said additional strategic closures and re-franchising opportunities will be considered in the UK, as he remains confident the market can become profit accretive this year
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Analysis & InsightWetherspoons’ upbeat results toasted by analysts
The trading update, which saw like-for-like sales up 5.2%, reflects improving conditions across the UK’s pub sector, according to analysts
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NewsWatchHouse exceeds crowdfunding target by 723%
The specialty coffee concept has closed its crowdfunding round after raising £7.2m from 1,432 investors, exceeding its target of £1m
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NewsExperiential offer drives robust growth for XP Factory
Like-for-like sales were more than 11% up for both the Escape Hunt and Boom Battle Bar brands, with the group reporting turnover of £57.8m
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NewsChallenging trading conditions persist for Brighton Pier Group
The group’s full year update reports softened consumer demand - most notably in the Bars division - as well as poor weather and train strikes impacting footfall during key trading periods
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NewsWetherspoon: Profits expected towards top of market expectations
The pubco has reported a 5.2% uplift in like-for-like sales in the 13 weeks to 28 April 2024, with Guinness, wine, and coffee all performing strongly
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NewsRevolution: 32 parties express interest in sales process
The group is exploring a formal sales process, with 32 out of 42 invited parties agreeing to participate and signing a non-disclosure agreement
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Weekend PressAsda’s owners piled on £1.5bn of liabilities to fund petrol station deal
Issa brothers and private equity firm TDR used property sale and leasebacks as well as borrowing against ground rents, the Financial Times reports
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NewsHeineken UK investing £39m in pub estate
The investment will go towards reopening 62 closed pubs, and improving around a quarter of Star’s 2,400 estate, worth on average £200k per pub
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NewsRekom UK taken over by lender ACG
The late night and bar group will be renamed NEOS Hospitality and led by Russell Quelch, as it separates from its former owner, the Danish Rekom Group
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NewsWingstop UK leads the way across globe
The UK business is achieving average unit value (AUV) north of $2.5m (£2m), compared to a system-wide wide figure of $1.9m (£1.5m), allowing it to accelerate growth
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NewsWendy’s aims for 400 UK restaurants
The fast food chain expects to have up to 50 sites by the end of the year, with the UK serving as a ‘key strategic market’, according to CEO Kirk Tanner