Finance – Page 278
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News
Roadchef 'up for sale'
Roadchef, the motorway services operator, is reportedly set to be put up for sale for c£350m
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Nichols FY PBT grows 10%
Nichols, the soft drinks supplier whose brands include Vimto, Sunkist and Panda, has reported a 10% rise in pre-tax profit (pre-exceptionals) to £22.5m in 2013, which it said was “another excellent year” for the company
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OFT: banks 'a barrier to alternative funding’
Banks may be hindering small and medium enterprises from accessing finance from alternative providers such as peer-to-peer lenders and on-line lending platforms, the Office of Fair Trading has warned
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NewsJack reiterates Buy for Spirit
Leading analyst Douglas Jack has reiterated his Buy recommendation for Spirit Pub Company ahead of its H1 trading statement next Tuesday (18 March), saying that the forecast risk for the group remains on the upside
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News
Eataly sells stake, eyes flotation
Eataly, the Italian food emporia and restaurants group that’s reportedly in talks with the family behind Selfridges about bringing the concept to London, has sold a 20% stake to Italian investment firm Tamburi Investment Partners (TIP) as part of a move to list on the stock exchange
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NewsMcDonald’s sales drop in February
McDonald’s has reported that global comparable sales decreased 0.3% in February, despite a 0.6% increase in Europe, aided by a continued strong performance in the UK
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NewsM&C20 flat but outperforms All Share index
Growth for the M&C20 slowed to a halt this week, although it still outperformed the FTSE All Share index, which fell by 0.5%
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Analyst corner
Leading analyst Mark Brumby at Langton Capital says that there have been several positive recent developments in terms of cost reduction for the pub and restaurant sector in the UK
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RBS aids Bannatyne refinancing
Bannatyne Fitness Limited, the national chain of health and fitness clubs, has secured a refinancing package of £35m through the Royal Bank of Scotland (RBS)
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NewsCollyer: JDW share price 'high enough for now'
Leading analyst Geof Collyer has reiterated his Hold recommendation for JD Wetherspoon ahead of its H1 results next Friday, saying that it’s share price “seems high enough for now”, and suggested that the market is “getting maybe a little ahead of itself” in terms of expected upgrades
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Burger Bear reaches funding target
Burger Bear has achieved its target of raising £30k through online-funding platform Kickstarter to open a permanent site in two stacked used cargo containers in Shoreditch
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NewsSheps: investments, services, coffee, state of trade
M&C Report takes a closer look at the H1 results to 28 December for Shepherd Neame, and speaks to chief executive Jonathan Neame about the company’s approach to investments; which of its additional services are proving most popular with tenants; plus insights into acquisitions, disposals and coffee
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News
Cineworld revenues grow 13.2%; openings planned
Cineworld has reported a 13.2% rise in group revenue to £406.1m in the year to 26 December despite total box office revenues falling 0.3%, and said it plans to open three new Cineworld Cinemas and two new Picturehouse sites in 2014
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News
Just Eat acquires rival Meal2Go
Just Eat has acquired rival Birmingham-based business Meal2Go to improve the electronic point of sale (EPOS) technology it can offer its thousands of partner restaurants
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NewsJack: JDW PBT to grow 6%
Leading analyst Douglas Jack has forecast that JD Wetherspoon will report a 6% rise in pre-tax profit to £37m, with earnings up 9%, at its interim results next Friday (14 March)
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NewsSheps growth accelerates
Shepherd Neame, the Kent-based brewer and pub operator, saw growth accelerate across its tenanted and managed pubs, its hotels and core brands in the 26 weeks ended 28 December, with managed like-for-likes up 7.5% in the period
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NewsPatisserie Holdings acquires Philpotts chain
Patisserie Holdings, the Risk Capital Partners-backed group and operator of the Patisserie Valerie chain, has acquired Philpotts Ltd, the independent premium sandwich and salad retailer with 23 shops in the UK, for an undisclosed sum.
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NewsCarlson in talks to sell TGI Friday’s
Carlson, the US-based parent company of TGI Friday’s, is in advanced talks to sell the casual-dining brand to buyout firm TriArtisan Capital Partners in a deal believed to be valued at around $850m
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NewsGrowth slows for M&C20
The M&C20 Index once again outperformed the FTSE All Share this week, although growth slowed to 0.5%, against +1.6% last week, following a sluggish performance by some major pub groups in particular
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News
Analyst corner
Pub and restaurant operators will be able to manage the expected 3% rise in the national minimum wage (NMW) “without risk to margins”, according to leading analyst Douglas Jack