Finance – Page 274
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OpinionQ1 trading overview
M&C Report talks to major pub, bar and restaurant groups about trading in the first quarter of 2014. The consensus is that Q1 was as good as or better than expected, and operators are largely optimistic about the year ahead
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NewsCharterhouse targets expansion as FY EBITDA grows 13.2%
Charterhouse Leisure, operator of the Coal Grill & Bar brand, has reported a 13.2% rise in company EBITDA to £727,000 for the year to the end of February and said it plans to grow from six to about 24 sites over the next three years
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NewsTGI Friday’s UK FY lfls rise 3.6%
TGI Friday’s UK has reported a 3.6% rise in like-for-like sales in the 52 weeks to 29 December 2013 and said its most recent openings are performing “in excess of expectations”
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News
West Cornwall Pasty Company sold in pre-pack deal
More than 200 jobs have been saved after Enact, the £7.5m SME fund launched by private equity house Endless, agreed to acquire 35 West Cornwall Pasty Company outlets and stores, together with the brand
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NewsM&C20 suffers record fall as leisure stocks slide
The M&C20 suffered the biggest fall of its 11 month history, as shares in leisure sector stocks plunged 3.6% this week
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NewsHarry Ramsden’s Q1 lfls up 6.2%; reports franchise progress
Harry Ramsden’s, the iconic fish & chip shop group, has reported a 6.2% rise in like-for-like sales in the first quarter of this calendar year, and said it now has franchise agreements in place for 100 new outlets within five years
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NewsOrchid to expand All Inns after division's lfls rise 23%
Orchid Group has reported a 23% rise in like-for-like sales at its All Inns family-friendly pub sites in the 12 months since the first conversions to the format, and revealed that a further 26 outlets are to join the division, adding to current 16
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News
Malik reveals target locations for Modern Asian Deli
Chef entrepreneur Angela Malik is targeting sites in central London and to the west and east of the capital for the third outlet under her Modern Asian Deli concept
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NewsPrezzo FY EBITDA up 13%; plans 25-30 openings this year
Prezzo, the Jonathan Kaye-led restaurant group, has reported a 13% rise in adjusted EBITDA to £28.9m in the year to 29 December on revenue up 15% to £166.5m, and said it planned to open 25-30 new sites by the end of this year
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NewsEAT to complete refurbs early; eyes acquisitions
EAT, the Lyceum Capital-backed chain, is due to complete its store refurbishment programme six months ahead of schedule in December and will target acquisitions from the start of 2015, chief executive Adrian Johnson has told M&C Report
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NewsJust Eat share price falls
Shares in Just Eat, the on-line takeaway platform, have fallen significantly since a spike on its first day of trading on the London Stock Exchange
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News
Stock Spirit loses major backer
Private equity firm Oaktree Capital Management LP has sold its entire shareholding in distillery Stock Spirit Group causing shares to fall 30.5%
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News
PRS income from pubs and clubs grows 2.1%
Revenue from pubs and clubs for PRS for Music, the music royalties collection agency, returned to growth in 2013, increasing 2.1% to £38.5m
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NewsResponsibility Deal 'makes sound business sense'
Companies are starting to realise that being part of the Responsibility Deal “makes sound business sense”, a senior figure behind the initiative has claimed
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NewsJack: Spirit H1 PBT to grow 9%
Leading analyst Douglas Jack has forecast that Spirit will report a 9% rise in pre-tax profits to £21.9m, driven by 4.8% like-for-like sales growth in managed pubs and a 2.6% increase in leased like-for-like net income, at its H1 results on 24 April
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NewsThwaites opens third pub under microbrewer free-of-tie deal
Thwaites, the Lancashire brewer and pub operator, has opened its third partnership pub with a microbrewer, M&C Report has learnt
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News
Barber to raise EIS fund for Hush expansion
Jamie Barber has launched a new round of fundraising through the Enterprise Investment Scheme (EIS) as he looks to grow his Hush brasserie concept
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NewsLarge caps push M&C20 higher
There were increases for the M&C20 Leisure Index and the broader stock market this week – both up by just under 1%
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NewsAnalyst corner
Simon French at Panmure Gordon moves his recommendation for Prezzo from Hold to Buy and raises his Target Price for the group from 112p to 197p ahead of its preliminary results next Wednesday
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NewsMore margin recovery to come for Spirit
Leading analyst Nicholas Batram has issued a Buy recommendation for Spirit Pub Company ahead of its H1 results on 24 April, saying he believes there’s still some more margin recovery to come in the business