Finance – Page 288
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NewsCaffe Nero announces refinancing
Caffè Nero, the Gerry Ford-led Italian coffee chain, has announced that it had agreed a new debt financing package to support its “strong growth objectives”
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French upbeat on Domino's, TRG and Greggs
Leading analyst Simon French has reiterated his Buy recommendations for Domino’s Pizza, Greggs and The Restaurant Group (TRG), which all report trading updates this week
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Trust Inns PBT grows 6.8% in 'satisfactory' year
Trust Inns, the tenanted pub operator, saw pre-tax profits grow 6.8% to £2.3m in the year to 31 March.
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NewsLoungers eyes Cosy Club expansion; December lfls rise 8.6%
Loungers, the Piper-backed cafe bar operator, says its Cosy Club concept has the potential to expand to at least 70 sites, on top of at least 250 potential Lounge outlets
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FY PBT increases at Pieminister
Pieminister has reported a near 40% increase in pre-tax profit for the year to 31 March 2013, up from £385k to £634k, while turnover climbed from £8.3m to £8.9m
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Greek investor acquires Camden Barfly
A private Greek investor has acquired the freehold of iconic London music venue, the Camden Barfly, from property company Solitaire Group for £3.8m – a 5.5% yield
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Analyst corner
Leading analyst Nicholas Batram of Peel Hunt looks ahead to forthcoming trading updates from Domino’s, The Restaurant Group (TRG), Spirit Pub Company, JD Wetherspoon, Mitchells & Butlers (M&B) and Cineworld
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NewsM&C20 outperforms FTSE as majority provide returns
There was little movement in share prices over the new year across the M&C20 Index as it again outperformed the FTSE All Share Index, though Domino’s staged a mini-recovery (up 3.6% to 514p) and Essenden enjoyed quite a leap (up 9.1% to 36p)
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NewsJack: TRG capable of sustaining double-digit growth
Ahead of its full-year trading update next week (9 January), a leading analyst has said that The Restaurant Group (TRG) should be capable of sustaining double-digit earnings growth over the medium-term, whilst paying off almost all its debt
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Palmers PBT falls 19.4%
Palmers, the Dorset-based brewer and pub operator, has reported a drop in profits and turnover in the year to 31 March 2013 as it suffered from poor weather and the Olympic “stay away factor”
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NewsVarsity Bars targets growth
Varsity Bars, a new company that last month secured 18 former Bramwell Pub Company venues, is targeting an estate of 30 sites and will look to diversify the retail offer, operations/area manager Christian Kent has told M&C Report
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Hook Norton returns to profit
Hook Norton has returned to profit in the year to 30 September and said it would dispose of more pubs and “potentially” make acquisitions
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TCG festive turnover grows 7%
Turnover for TCG, the managed operator, grew 7% over the Christmas and New Year period, the company has said
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Peyton & Byrne establishes growth platform
Peyton & Byrne saw a dip in performance in the year to 31 March 2013, but said that it had established a platform on which to grow during the period
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FY PBT increase at Masala World
Masala World has reported a rise in pre-tax profit for the year to 31 March 2013 from £1.79m to £2.1m, a performance it labelled as ”satisfactory”
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Molson Coors exits Tradeteam
Molson Coors has sold its stake in Tradeteam, the UK drinks logistics business, to global logistics firm DHL Supply Chain for an undisclosed sum
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NewsFY EBITDA up 28% at Cote
Cote Restaurants, the CBPE-backed group, saw EBITDA for the year to 28 July 2013 increase 28% to £12.8m, driven by strong like-for-like sales and the opening of 11 new sites
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NewsOlympics hits Beds & Bars
Beds & Bars said the London Olympics caused its UK accommodation income to fall 8.5% in the year to 31 March, although there was growth in its mainland Europe business.
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NewsGiraffe to expand at speed
Giraffe, the Tesco-owned restaurant group, has said it is well placed to “perform strongly and expand at speed” following its acquisition by the retailer
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West Berkshire Brewery launches share offer
West Berkshire Brewery (WBB), the independent brewer, which is chaired by brewing and pub entrepreneur David Bruce, is to launch a share offer in the New Year