Finance – Page 289
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News
Hydes targets acquisitions; swings into the black
Hydes, the Manchester-based brewer and pub operator, plans to trial a value dining concept and says it is “actively seeking” acquisitions for its managed arm
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NewsEBITDA grows for Searcys parent
The parent company of Searcys, the upmarket bar and restaurant operator and caterer that is currently on the market, saw EBITDA grow from £1.7m to £2.3m in the year to 30 June
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News
Thomas Hardy PBT slips in ‘challenging’ year
Thomas Hardy Holdings, the contract brewer and drinks packaging company, has reported a 6.7% fall in full-year pre-tax profits to £1.7m in what it called a “challenging but rewarding year”
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News
New JV to develop Broadgate for mixed use
Property owner British Land has formed a joint venture with GIC, Singapore’s sovereign wealth fund, to develop the leisure, retail and office space in the Broadgate complex in the Liverpool Street area of East London
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NewsBrewDog reaches £4.25m fundraising target
BrewDog, the Scottish brewer and pub operator, has reached the £4.25m target that the company set for its latest fundraising drive.
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NewsFulham Shore reports H1 pre-tax loss
Fulham Shore, the restaurant venture from ex-Clapham House Group chairman David Page, has reported a pre-tax loss of £74,399 in the six months to 29 September and said it continues to seek investment opportunities in the sector
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News
Ignite swings into profit
Ignite Group, the owner of the Bumpkin and Boujis chains, swung back into profit in the year to 31 March 2013, as it saw turnover climb from £11.2m to £11.7m
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NewsM&C20 outperforms FTSE
Only three leisure sector stocks (Fuller’s, Dominos and Richoux) underperformed the market this week as the M&C20 built on last week’s gains to rise another 2%
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News
Arran looks to emulate BrewDog
Arran Brewery, the Scottish brewer and bar operator, has said that trading has been challenging during the last three months as the group’s attention was focused on its share launch
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NewsBill’s on track to double FY turnover
Bill’s Restaurants is on track to report turnover in its current financial year to the end of next July of between £50-55m, dependent on the timing of openings
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NewsRollo: M&B to resume dividend payments in 2015
Leading analyst Jamie Rollo says he believes Mitchells & Butlers (M&B) will not resume dividend payments until 2015 and that he “struggles to see” the investment case in the company
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News
BBPA returns to pre-tax profit
The British Beer & Pub Association returned to pre-tax profit in the year to 30 September, a period described by chief executive Brigid Simmonds as “very successful” for the trade body
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News
Imbiba looks to raise £6m
Imbiba Partnership is looking to raise £6m from its latest round of fundraising as it looks to add further sites to its Darwin & Wallace (D&W) and Camm & Hooper (C&H) vehicles
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Analysis & Insight
Operators report 1.7% lfls growth in November
Like-for-like sales among 27 leading pub and restaurant groups increased 1.7% in November compared to the same month last year, with managed pub operators the main drivers of growth, new figures show
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NewsEnterprise shares 'at tipping point'
Enterprise Inns is likely to return to absolute EBITDA growth in 2015 and its shares have now reached a “tipping point”, according to leading analyst Geof Collyer
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NewsJack: Domino’s in flux
A leading analyst says that ahead of Domino’s full-year trading update, which is due 8 January, much depends on a replacement being found for chief executive Lance Batchelor and how that influences strategy
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NewsLa Tasca secures new funding
La Tasca is understood to have completed a restructure that will see its existing backers invest additional funds to aid further investment in its current c50-strong estate and back an accelerated acquisition programme
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OpinionThe positive pull of leisure
Despite the backdrop of economic doom and gloom the leisure property market is bucking the trend and providing canny investors with impressive returns, argues Mark Sheehan, managing director of Coffer Corporate Leisure
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News
Thorley Taverns returns to profit; sites on market
Thorley Taverns, the Kent-based pub, restaurant and hotel group, returned to profitability in the year to 30 June and revealed that a number of its “less successful” sites are on the market
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News
Ministry of Sound club revenues grow 5%
Ministry of Sound, the music business that runs the eponymous nightclub in London’s Elephant and Castle, saw revenue in its club division grow again in the year to 31 December 2012