Finance – Page 270
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NewsSubway secures further petrol station deal
Subway, the global sandwich chain, has signed a further deal, which will see it increase its roadside presence in the UK.
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Jack: Marston’s repositioning to lead to growth
A leading analyst has said that he believes Marston’s repositioning (selling wet-led pubs, recycling capital into food-led new builds and converting the Taverns estate to franchise) should lead to double-digit earnings growth in 2015E and 2016E
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NewsJDW expects “reasonable outcome” for the year
JD Wetherspoon saw like-for-like sales increase by 6.2%, and total sales rise by 10.9% for the 13 weeks to 27 April 2014
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NewsYO! FY EBITDA up 15%, confirms Hall as CEO
YO! Sushi, the Quilvest-backed group, has confirmed that chief operating officer Vanessa Hall has succeeded Robin Rowland as chief executive, with Rowland, who has led the company for 14 years, becoming executive chairman
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Jack: Enterprise fighting hard to stand still
A leading analyst has said that Enterprise Inns is fighting hard to stand still, facing ongoing declines in wet-led pub volumes and an uncertain regulatory backdrop
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NewsJust Eat: current trading in line with expectations
Just Eat, the on-line takeaway platform, has said that its trading is slightly ahead of management expectations in part as a result of the unusually wet winter weather in the UK and Northern Europe
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Analysis & InsightGoldilocks and the three narratives
Understanding the multi-speed and locally polarised UK recovery will be key for operators over the next 18 months, as it brings challenges to expansion plans, pricing and promotions, and national marketing and communications campaigns argues Trajectory Partnership’s Paul Flatters
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Johnson runs rule over InnBrighton
Luke Johnson, the serial sector investor, is believed to be running the rule over InnBrighton, the Brighton-based multiple pub operator
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Cirrus raises £15m expansion fund
Cirrus Inns, the investment vehicle launched to back a premium estate of freehold pubs with rooms, has raised a further £15m toward its continued expansion
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NewsBatram: focuses on JDW and TRG
A leading analyst says he expects another strong top line performance from JD Wetherspoon when it updates the market next week
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NewsAnalyst corner
Sahill Shan at N1 Singer reports on Greene King’s analyst briefing from earlier this week and how it has evolved into a multi-faceted restaurant/casual dining company
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Analysis & Insight
Early funds catch concepts’ eyes
Nick Crosbie, corporate partner in international law firm Olswang LLP’s leisure group, looks at a few of the common funding models for the more early-stage concepts seeking investments
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NewsM&C20 lags behind market on anniversary
It’s a full year since we launched M&C20 and the portfolio of leisure sector shares is worth nearly 26% more than in May 2013, against a 6% rise across the general stockmarket
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NewsBenito’s Hat secures new CEO and funding
Benito’s Hat has appointed a Richard Baker, formerly of The Restaurant Group as its new chief executive and plans to further strengthen its estate this year following an additional investment of £1.3m
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Moto reports losses after servicing parent company debt
Motorway services company Moto Hospitality has reported a 1.1% fall in turnover to £840.03m the full year 2013, caused by a fall in fuel sales
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Jack: GK disposal “dilutive, but strategically right”
A leading analyst has described Greene King’s sale of 275 non-core tenanted and leased pubs to Hawthorn Leisure for £75.6m as “dilutive, but strategically right”
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NewsCinven places £1bn price tag on PizzaExpress
Cinven, the private equity backer of Gondola, has appointed separate advisers to oversee the £1bn sales of PizzaExpress, and sister brands Ask Italian and Zizzi, according to The Times.
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Ideal eyes expansion of pub and café estate
Ideal Collection, the independently owned south coast based operator of pubs and cafes, is looking to acquire another pub site this year and grow its Boat House Café concept
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NewsGreene King sells 275-strong portfolio to new venture
Hawthorn Leisure, a new pub company established to acquire, invest in and support pubs across the UK, has exchanged contracts for the acquisition of a portfolio of 275 tenanted and leased public houses from Greene King, for £75.6m.
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NewsGreggs lfls up 3.7%
Greggs, the high street bakery chain led by Roger Whiteside, has reported a 3.7% rise in like for like sales for the 17 weeks to 26 April following a “weak” performance in 2013