Finance – Page 282
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News
Mezze closes in on funding deal
West Country restaurant chain Mezze is closing in on a fundraising deal that will allow it to grow from six to up to 16 units over the next three years, with a projected turnover of more than £13m
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News
Restructuring activity set to decrease in 2014
Three quarters (76%) of banking institutions, asset-based lenders and alternative lenders expect to see no change (24%) or a fall (52%) in levels of restructuring activity this year, according to research from Deloitte
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NewsIntertain signs Jongleurs deal
Comedy club brand Jongleurs is to return to the operator of the Walkabout bar brand for the first time in over four years
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NewsNWTC secures new funding for expansion
The New World Trading Company (NWTC), the Living Ventures and Hill Capital backed business, plans to accelerate its roll out plans and more than double its estate this year after securing a new bank facility of £2.2m from Lloyds Banking Group
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News
Chapman Group PBT falls on higher admin costs
Chapman Group, the West Sussex-based pub, restaurant and hotel operator, saw pre-tax profits more than halve in the year to 31 March 2013 after administrative costs grew by 10.6% to £5.3m
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NewsMid-cap firms drive M&C20 outperformance
The M&C20 outperformed the FTSE all-share index this week by one of the biggest margins since M&C Report began monitoring the share prices last May, with ‘mid-cap’ companies driving the growth
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NewsCerberus acquires further Punch portfolio
Cerberus Capital Management, the US private equity owner of Admiral Taverns, has acquired a further 32 pubs let to Punch Taverns from Nick Leslau’s Prestbury Holdings, in a deal valued at c£30m
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News
Upham sets fundraising timetable
Hampshire-based Upham Pub Company hopes to complete its latest £15m fundraising drive in July, company co-founder David Butcher has told M&C Report
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NewsTGI’s pays record premium for Liverpool site
The undisclosed seven-figure premium paid by TGI Friday’s for the Pesto site in Liverpool One is believed to be the highest paid in the North West of England and possibly for any restaurant unit outside London.
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NewsAnalyst corner
Simon French at Panmure Gordon looks ahead to Enterprise Inns’ interim management statement on 6 February, saying he expects to see no change to consensus forecasts
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NewsBianco43 agrees hotel group tie-in
Bianco43, the Italian restaurant group, has reached an agreement that could see its restaurants open in sites operated by American boutique hotel group Club Quarters in London, and potentially the US, co-owner Massimo Parodi has told M&C Report
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NewsChipotle to maintain growth rate; FY revenue up 17.7%
Chipotle Mexican Grill says it plans to maintain its rate of expansion in 2014 as it reports a 17.7% rise in revenue to $3.2bn (£1.9bn) in 2013, aided by an improved performance in Q4
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NewsCollyer: M&B requires 'Herculean effort'
Leading analyst Geof Collyer has said that Mitchells & Butlers (M&B) will need a much stronger performance in H2 if it’s to recover its position, and a “Herculean effort” is still required to turn around the bottom quartile of the estate
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NewsFuller's: Christmas, Brewer Street, investments, analysts
Friday 20 December was the busiest trading day ever for Fuller’s, with sales up 15% year-on-year on so-called ‘mad Friday’, chief executive Simon Emeny has told M&C Report
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NewsDiageo GB returns to growth
Diageo Great Britain returned to growth in the six months to 31 December, reporting a net sales increase of 1%, with volume and value share growth for Guinness, Pimm’s net sales nearly trebling and “signs of improved momentum” for Smirnoff
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News
Spaghetti House reports improved performance
Spaghetti House, the London-based, family-owned chain, has said that it has seen a further improvement in performance in the year to date and that its 12-strong estate was currently trading “very well”
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NewsDiageo Western Europe decline slows
Diageo has reported a slowing of net sales decline in Western Europe in the six months to 31 December, which it said helped to absorb some of the challenges in emerging markets
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News
Jack holds forecast for Fuller's
Leading analyst Douglas Jack has reiterated his Add recommendation for Fuller’s following its trading update this morning that saw like-for-likes in its managed arm grow 7.2% in the 10 weeks to 25 January
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News
Fuller's managed lfls grow 7.2%
Fuller’s, the London-based brewer and pub operator, has reported a 7.2% rise in like-for-like sales in its managed division in the 10 weeks to 25 January and said the good results has caused it to bring forward additional projects this financial year
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NewsLfls up 2% at M&B
Mitchells & Butlers (M&B) has reported a 2% rise in like-for-like sales in the 17 weeks to 25 January, helped by a 2.6% rise in sales across the three-week festive period to 4 January and milder weather compared to last year