Finance – Page 292
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NewsMarston's: Package disposal, estate plan, menus, lodges
M&C Report takes a closer look at the full-year results for 5 October for Marston’s and talks to Peter Dalzell, managing director of Marston’s Inns and Taverns
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FY lfls up 2.2% across Marston’s P&D estate
Marston’s has this morning reported that total like-for-like sales were up 2.2% across its premium & destination estate for the year to 5 October against the previous year, with growth in the second half year of 4.1%
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NewsMarston's sells £90m portfolio for alternative uses
Marston’s, the brewer and pub operator, has announced that it has disposed of 202 pubs for £90m to NewRiver Retail Limited, a specialist REIT focused on the UK food and value retail sector, which intends to convert the portfolio to alternative uses
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Jack: Marston's disposals mean long term earnings growth
Leading analyst Douglas Jack says he believes Marston’s repositioning of its pub estate should allow it to generate double-digit earnings growth over the long-term, although increased disposal activity led him to cut his pre-tax profit forecast for 2014 and 2015
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NewsMarston's sells 202 pubs for £90m
Marston’s, the brewer and pub operator, has announced that it has disposed of 202 pubs for £90m to NewRiver Retail Limited, a specialist REIT focused on the UK food and value retail sector
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Punch reiterates Sell and TP for Punch
Leading analyst Simon French has reiterated his Sell recommendation and 7p Target Price for Punch Taverns after its “slightly better than expected” trading update
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NewsFrench raises M&B Target Price
Leading analyst Simon French has reiterated his Sell recommendation for Mitchell’s & Butlers (M&B) but increased his target price from 301p to 365p, saying the company is “potentially a compelling turnaround story”
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VAT and loss making sites impact West Cornwall
West Cornwall Pasty Company, the Gresham-backed retailer, has reported a decline in full-year turnover and a widening in pre-tax losses
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Shaftesbury reports 'unprecedented' demand from F&B operators
Shaftesbury says there has been an “unprecedented demand” in its properties from for food and beverage operators, which now account for one third of its income
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Jack issues Hold for Punch after Q1 IMS
Leading analyst Douglas Jack has issued a Hold recommendation for Punch Taverns following its Q1 trading update this morning, saying he expects that the valuation gap to its peers should narrow on successful bond restructuring
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NewsPunch posts 1.4% rise in lfl core estate net income
Punch Taverns, the tenanted and leased pub operator, has reported a 1.4% rise in like-for-like net income in its core estate in the 12 weeks to 9 November, and maintained its view that it intends to announce restructuring proposals in December
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NewsCollyer reiterates Buy for Greene King
Leading analyst Geof Collyer has reiterated his Buy recommendation for Greene King ahead of its half-year results next Tuesday (3 December), saying that the company remains his favourite in the sector
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NewsFY PBT doubles at Nando’s Group
Nando’s Group, the operator of the eponymous peri peri chicken chain and Gourmet Burger Kitchen (GBK), saw pre-tax profit more than double in the year to 24 February 2013, up from £14.7m to £33.4m, while turnover increased from £419.6m to £485.2m
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FY revenue up 4.4% at Britvic
Britvic grew its full year revenue by 4.4% to £1.32bn for the 52 weeks ended 29 September 2013 and saw pre-tax profit increase by 29.1% to £108.1m
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NewsM&B FY lfls grow 0.4%
Mitchells & Butlers (M&B), the managed operator, has reported a 0.4% rise in like-for-like sales in the year to 28 September as pre-tax profit grew from £82m to £150m
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NewsSearcys up for sale for £25m-£30m
Searcys, the upmarket bar and restaurant operator and caterer, has been put up for sale at a price of £25m to £30m, according to the Sunday Times
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NewsCarlson considers sale of TGI Friday’s
Carlson, the US-based parent company of the TGI Friday’s casual-dining chain, has announced it is undertaking a corporate review of its strategic options, which could include a possible sale of the restaurant brand
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Improved margins at M&B to cover-up weak sales growth
A leading analyst has said that improved margins at Mitchells & Butlers (M&B) should help cover-up for weak sales growth in FY’13
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NewsClear winners and losers behind flatlining M&C20
It was an uninspiring week for the equities market, as both the leisure sector and wider share-prices indices ticked down a few points
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NewsFrench: Marston’s strategy “relatively risky”
A leading analyst has said that he believes Marston’s strategy of accelerating disposals of bottom-end wet-led pubs whilst allocating more capital to new build food-focussed managed pubs remains relatively risky given the step up in industry supply