Finance – Page 275
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NewsJP Morgan takes positive view on UK pubs & restaurants
JPMorgan Cazenove has lifted its recommendation for Mitchells & Butlers (M&B) from ‘neutral’ to ‘overweight’, saying that it is taking a more positive view on the UK pubs and restaurants sector
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Booker lfls rise 1.9%
Booker, the food and drink wholesaler, has reported a 1.9% rise in like-for-like sales (excluding the Makro business) in the 12 weeks to 28 March
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NewsJust Eat shares grow 8.8% on first day of trading
Shares in Just Eat, the on-line takeaway platform, grew 8.8% to 283p on its first day of trading, leaving it with a market capitalisation of almost £1.6bn
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Downing eyes £100m fundraising
Downing LLP is aiming to raise another £100m this year to add to its existing £430m pub industry fund, M&C Report has learnt
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NewsJust Eat shares debut at 260p
Just Eat, the on-line takeaway platform, has announced that shares will trade at 260p each, the top end of the price range, as it makes its debut on the London Stock Exchange today
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Heineken plans £58m cider investment
Heineken is planning to invest £58m in its Bulmers cider operations in Hereford, in order to increase production capacity and to modernise facilities
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NewsWahaca receives funding extension
Wahaca, the Mexican street food restaurant concept led by Thomasina Miers and Mark Selby, has had its funds extended by RBS to finance the next phase of expansion
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NewsDomino's UK lfls grow 10.8%
Domino’s Pizza Group has reported a 10.8% rise in like-for-like sales at its 725 mature UK stores in the 13 weeks to 30 March, with system sales rising by 14.8% to £188.5m, as it says the search for a new chief executive is “well advanced”.
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TGI Friday’s sales flat in 2013
Carlson, the US-based parent company of TGI Friday’s, has reported that sales across the restaurant brand were flat in 2013 compared to the previous year.
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Domino's upgrades 'increasingly likely'
Leading analyst Douglas Jack has held his forecast for Domino’s following its Q1 interim management statement this morning, but said upgrades are “becoming increasingly likely”
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NewsStonegate launches £380m bond offer
Stonegate Pub Company, the TDR-backed pub and bar operator, has announced plans to launch a £380m bond offer
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NewsCH&Co acquires remains 50% stake in Apostrophe
Caterer CH&Co has acquired the remaining 50% stake in Apostrophe, the London-based patisserie café concept led by Amir Chen, for an undisclosed sum
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NewsTasty reports rise in FY PBT
Tasty has reported a 12% rise in pre-tax profits from £1.55m to £1.74m for year to 29 December 2013, with revenue up 20% to £23.2m
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NewsNovus parent reports improving picture after lfl decline
The parent company of Novus Leisure, the London-based premium bar and restaurant group, has reported a 3.1% fall in like-for-like sales at uninvested sites in the 48 weeks since its incorporation (to 30 June 2013), but with an improving picture since the period end
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NewsM&C20 returns to growth
Normal service resumed for the M&C20 this week, as it returned to growth (+1.5%) and outperformance of the FTSE All-Share Index (+0.6%) after last week’s decline of 0.7%
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NewsPrezzo rollout 'could be accelerated'
Leading analyst Nicholas Batram has suggested that the rollout of Prezzo could be accelerated and he predicted a positive set of results from the Jonathan Kaye-led group when it reports its full-year results on 9 April
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NewsAnalyst corner
Nicholas Batram at Peel Hunt looks ahead to the Q1 interim management statement from Domino’s Pizza on Wednesday 2 April. He issued a Hold recommendation but said its shares are “moving closer to buying territory”
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NewsRevolution operator grows H1 EBITDA 41%
New Inventive Bar Company, the Revolution bar operator formerly known as Inventive Leisure, saw EBITDA grow 41% to £6.7m in the six months to 31 December 2013
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NewsCarroll lined up to operate GK package
May Capital has lined up Gerry Carroll, former managing director at Enterprise Inns and Little Chef, to manage the c300-strong tenanted pub package it is currently in advanced talks to acquire from Greene King
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French 'strongly reiterates' Buy for Eclectic
Leading analyst Simon French has “strongly reiterated” his Buy recommendation for Eclectic Bar Group, which he said announced a “solid set of maiden results” since it debuted on AIM last year