Finance – Page 299
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NewsDiageo Q1 sales dip in Western Europe
Diageo has reported a 1.1% decline in net sales in Western Europe the three months to 30 September and said it expects a low single digit net sales decline in the region for the full year
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News
Sales growth slows in September
Britain’s pub and restaurant groups saw sales growth slow in September after a summer of solid trading, with like-for-like sales up just 0.4% compared to the same month last year, according to the latest figures from the Coffer Peach Business Tracker
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Analysis & Insight
Eye on IPOs
With all the publicity and conjecture associated with the Royal Mail’s IPO, David Roberts, corporate lawyer and head of Olswang’s leisure practice, considers whether the F&B sector will catch the IPO bug.
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News
Everyman Media Group 'to bid for Picturehouse sites'
Everyman Media Group, the cinema operator, is expected to bid for the Picturehouse cinemas that Cineworld is being forced to sell, according to The Times
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News
Coca-Cola Company Q3 volumes grow 2%
The Coca-Cola Company, the global soft drinks firm, has reported a 2% rise in global volumes in Q3, with international volumes up 3% in both the quarter and the year to date
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News
F&B firms looking to up investment
Driven by rising optimism globally many UK food and beverage companies are looking to increase investment across areas such as facilities, equipment,IT and product development over the next 12 months, according to a new report from advisory firm Grant Thornton
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NewsNatwest and RBS to add £150m to Leisure Fund
NatWest and RBS have added a further £150m to their dedicated Leisure Fund aimed at small and medium-sized businesses after receiving “incredible” demand from across the industry
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NewsJack: Spirit is undervalued
Leading sector analyst Douglas Jack has said the time is right to buy shares in Spirit Pub Company, which he says are “undervalued”
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News
Glendola plans cocktail and craft concept
Glendola, the bar and restaurant group, is to open a new cocktail and craft beer concept at its latest venue in the City as it looks to be more innovative over the coming year, M&C Report has learnt
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News
Finance provider sees more enquiries from sector
Boost Capital, the business finance provider, says it has seen a “dramatic rise” in enquiries for bar and restaurant operators in particular as it reports that one third of all demand from small and medium enterprises has come from the hospitality sector
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NewsLa Tasca reports “massive turnaround”
La Tasca has reported a 68.9% increase in like-for-like EBITDA for the seven months to the end of September and said it had seen a “massive turnaround in performance” since its underwent a Company Voluntary Agreement (CVA) last year
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News
Glendola PBT grows 30%
Glendola Leisure, the London-based bar and restaurant group, has reported a 30.1% rise in pre-tax profits to £2.5m in the year to 30 March on turnover almost static at £28.5m
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NewsCaffe Nero FY lfls grow 2.8%
Caffe Nero, the Gerry Ford-led chain, has reported a 2.8% rise in like-for-like sales in the year to 31 May, as EBITDA increased by 10.8% to £34.9m, and said it planned to open 45 stores next year
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NewsM&C20 flat after mixed-bag leisure sector performance
It was a flat week for the M&C20, with 10 stocks up, 9 down and one unchanged - with the result that the index ticked down 0.2% to 1,119
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News
Market Town Taverns reports 'steady' trading
Market Town Taverns, the Yorkshire-based pub and bar operator, has said it had a “steady period of performance” in the 16 months to 2 February and stated that it planned to undertake some “sizeable investments” in existing sites this year
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NewsAnalyst corner
Leading analyst Jamie Rollo looks ahead to JD Wetherspoon’s Q1 interim management statement on 6 November, predicting a “solid” trading update “with few surprises”
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News
Red's secures expansion fund
Red’s True BBQ, the fledgling Leeds-based operator, has secured funding from the Royal Bank of Scotland to secure a further three sites, as it looks to grow to around 15 to 18 units over the next five years
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NewsTasty 'seeks new equity funding'
Tasty, the AIM-listed restaurant group, is rumoured to be asking shareholders about new equity funding as it looks to open 18 sites by the end of 2014, according to The Times
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News
PBT falls 5.1% for UK Hard Rock operator
Hard Rock Cafe UK, operator of the eponymous American restaurant brand in Britain, saw pre-tax profits fall 5.1% to £5m in the year to 31 December 2012
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News
Joule's completes £4m funding deal; names new chairman
Joules, the Shropshire brewer and pub operator, has completed a £4m funding deal with NatWest and has named Mark Heappey, formerly a partner at 3i, as its new chairman, M&C Report has learnt