Finance – Page 262
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NewsCollyer: JDW FY to be in line
Leading analyst Geof Collyer says he expects JD Wetherspoon’s full-year results to be in line but he’s “cautious” on the Q4 outcome
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NewsLuke Johnson acquires stake in InnBrighton
Serial sector investor Luke Johnson’s vehicle Risk Capital Partners has invested in InnBrighton, the Brighton-based pub company led by Gavin George, which has been renamed the Laine Pub Company, M&C Report has learnt
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NewsJack: JDW should be in line
Leading analyst Douglas Jack says he expects JD Wetherspoons’ full-year trading update on 9 July to be “at least in line”
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NewsGreggs H1 lfls rise 3.2%
Greggs, the high street bakery chain, has reported a 3.2% rise in like-for-like sales in the 26 weeks to 28 June, and said it expects to report operating profits of £16-17m at its interim results, up from £11.5m in the comparative period last year
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NewsChilango breaks through funding target
Chilango, the Mexican restaurant group, has broken through its target of raising £1m from the mini-bond it launched on 9 June through CrowdCube
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Heavitree Brewery H1 operating profit grows 14.4%
Heavitree Brewery, the Exeter-based tenanted pub operator, has reported a 14.4% rise in operating profit to £619,000 in the six months to 30 April, despite the impact of the “truly awful weather” at the start of the year that forced two pubs to close
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NewsM&C20 begins recovery from slump
The M&C20 Leisure Index recouped some of the losses it suffered last week as it finished up five points to 1,183, while the All Share Index fell 11 points to 1,048, once again widening the gap between the indices largely thanks to gains made by Greene King and Mitchells & Butlers
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NewsShan: Mixed start to year anticipated for GK
A leading analyst has said that he does not anticipate Greene King reporting a particularly strong start to the year given a solid +3.1% LFL comp
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Heartstone raises further equity
Heartstone Inns, the Enterprise Investment Scheme (EIS)-backed freehold pub operator, has raised a further £1m of equity as it looks to further add to its nine-strong estate
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Analyst corner
Douglas Jack at Numis examines yesterday’s announcement on Punch Taverns’ debt restructure and the pub company’s trading update
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NewsWadworth seeks new MD; FY PBT grows 16%
Wadworth, the Wiltshire brewer and pub operator, has announced that Charles Bartholomew is to stand down from his role of managing director and chairman in 2015 to become non-executive chairman
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NewsCalculus confirms Chop’d investment
Private equity fund manager Calculus Capital has confirmed it has invested £2m in Chop’d, the London-based salad bar chain
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Deliveroo raises £2.75m to expand business
Deliveroo, the London-based food delivery platform, has raised £2.75m of new funding to further strengthen its logistics technologies and delivery platform
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Gastropub group launches Crowdcude fundraising bid
A new gastropub group is looking to raise £150,000 for expansion by selling a 7.5% stake in their business on the crowdfunding website Crowdcude
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River Cottage Canteen raises £1m in under 36 hours
River Cottage Canteen, the restaurant and deli concept led by high profile chef Hugh Fearnley-Whittingstall, has reached its £1m fundraising target via the crowd-funding website Crowdcube in under 36 hours
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Analysis & InsightLeisure spending for May at 10-month low
Household leisure spending was down 11% in May compared with April reaching the lowest spend on eating and drinking out since January, according to the Greene King Leisure Spend Tracker
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NewsHansen: pub sector enters 'active M&A period'
The pub sector is entering an “active period of M&A activity”, according to Peter Hansen, founder of Sapient Corporate Finance
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NewsJack upgrades Greene King to Hold
Leading analyst Douglas Jack has upgraded Greene King from Add to Hold following “recent weakness”
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NewsThwaites secures new brewery site as FY PBT grows
Daniel Thwaites, the Lancashire brewer and pub operator, saw profits before tax and exceptionals grow from £6m to £7.8m in the year to 31 March following the culmination of a three-year restructure process at the company, and said it expects to complete on the purchase of a new brewery and head office towards the end of the year
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NewsCollyer: Greene King a long term winner
Greene King’s 2020 strategy for growth should see it generate above the long term market average growth rate, whilst also continuing to grow dividends in line with earnings, according to leading analyst Geof Collyer