Finance – Page 269
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News
Collyer upbeat on Enterprise
Leading analyst Geof Collyer has said he’s “very confident” of his full-year forecast for Enterprise Inns following its H1 results this morning, with the possibility that the company could report EPS growth for 2014
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Essenden undertakes debt for equity swap
Creditors of Essenden, the Nick Basing-led operator of the Tenpin bowling brand, have voted overwhelmingly in favour of its plan to undertake a debt for equity swap to prepare the business for acquisitions
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NewsTRG 'well placed amid strong trading'
Leading analyst Karl Burns has reiterated his Buy recommendation for The Restaurant Group (TRG) ahead of its trading update on Thursday, saying that he expects trading to have been strong in the period, with like-for-like sales growth of around 3-4%, and arguing that it’s well positioned to benefit from improved consumer spending
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NewsEnterprise lfl net income grows 1.1%
Enterprise Inns, the tenanted and leased pub operator, has reported a turnaround in like-for-like net income in the six months to 31 March, with growth of 1.1% against a decline of 4.3% in H1 2013
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NewsJack predicts lfl profit lift at M&B
Leading analyst Douglas Jack has forecast that Mitchells & Butlers (M&B) will report a 2% rise in H1 pre-tax profit and 1% rise in like-for-like sales at its interim results on 22 May
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NewsSuitors circle Orchid
Mitchells & Butlers (M&B), Greene King and Starwood Capital, are amongst six firms believed to be set to bid for all or part of Orchid Pub Company
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NewsJoseph Holt agrees £20m refinancing deal
Joseph Holt is set to embark on an expansion drive focused on food-led sites, after agreeing a £20m refinancing deal with the Royal Bank of Scotland
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Downing set for further £20m fundraising
Downing LLP has closed its latest round of fundraising with a total of £18.6m raised and is set to launch a new fund soon which will target raising a further £20m
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NewsM&C20 slips on mixed share-price performance
The M&C20 Index of leisure sector shares slipped by seven points or 0.5% this week, underperforming the general stock market – which was flat
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News
UK helps drive McDonald’s growth in April
A positive performance in the UK helped to drive global comparables sales at McDonald’s up 1.2% in April, offsetting flat sales in the US
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NewsJack: Strong trading continues at TRG
A leading analyst expects next Thursday’s Q1 IMS from The Restaurant Group to show “strong trading” with rising like-for-like sales experienced at the start of the year likely to be maintained
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News
Starbucks drives spend-per-head at Cineworld
Cineworld yesterday reported an 8.6% increase in box office revenues, while admissions rose by 6.8% in the 18 weeks to 1 May
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Intu reports improving environment
Shopping centre owner Intu has welcomed the improving retail environment in the UK, reporting a rise in consumer confidence leading to an increase in footfall.
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NewsBII plans major changes
The British Institute of Innkeeping (BII) has revealed plans for major changes in 2014 including a brand relaunch, new benefits to members and a new constitution giving a “leaner and more responsive decision-making process”
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News
Tourism spend grows 12.7% in UK
Visitor spending in 2013 rose 12.7% across England, Wales, and Scotland with visitors injecting £21bn into the UK economy
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NewsBrains FY EBITDA flat in 'difficult' year
SA Brain, the Cardiff-based brewer, pub and coffee shop operator, has reported flat EBITDA of £11.8m in the year to 30 September 2013 and said it expects trading to remain “difficult” in 2014
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NewsAB InBev Q1 UK volumes grow 0.6%
AB InBev, the global brewer, has reported a 0.6% rise in UK volumes in the first quarter of 2014
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NewsCollyer reiterates Hold for JDW
Leading analyst Geof Collyer has reiterated his Hold recommendation for JD Wetherspoon following its Q3 results, despite sales being slightly ahead for the managed operator
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NewsCarlsberg Q1 UK beer volumes dip
Carlsberg has predicted that Western European beer markets will “decline slightly” in 2014 as it reports a decline in beer volumes in the UK in the first quarter of this year
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News
Seattle’s Best Coffee signs three-way UK coffee deal
Seattle’s Best Coffee, part of Starbucks Coffee company, has signed a trial deal with KFC, Asda and Kiddicare as part of a plan to sell its coffee through 100 nationwide partner cafes in the UK by the end of the year