Finance – Page 3
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NewsRedCat Hospitality completes transitional year
The 95-strong operator behind Coaching Inn Group and RedCat Independent Pubs has achieved £129.8m turnover and laid the foundations for growth
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NewsSix by Nico curtails investment due to Budget
The 16-strong restaurant group opened six sites in FY24 and grew turnover to £36.2m, but said increased costs will hamper investment in new openings
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Weekend PressLow-paid workers to bear the brunt of coming rise in UK labour costs
More than 100 Pizza Hut delivery drivers for Scotland’s biggest takeaway franchisee were called to an emergency meeting, writes the FT
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NewsKerb reports ‘extraordinary year’ of revenue growth
The street food collective and hospitality group achieved revenue of £32.2m in 2024 – up 37% on the previous year, with two new London locations to open in 2025
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NewsNWTC announces record revenue
Revenue increased to £73.5m in the 52 weeks ended 31 March 2024, with underlying EBITDA up 20%, at the Graphite Capital-backed bar and restaurant operator
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NewsPatty & Bun completes restructure of burger business
The business and assets have been acquired by a new company led by the existing team, with all restaurants to remain open, founder Joe Grossmann confirmed.
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NewsBlack Sheep Coffee raises millions in fresh equity
The coffee shop chain, which operates more than 100 locations globally, has raised the funds through a combination of loan agreements
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InterviewsCaravan: ‘This is all down to us now’
CEO Laura Harper-Hinton speaks to MCA following the restaurant group’s management buy-out, which she says has enabled the team to “refocus on what we’re up to”
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Analysis & InsightSpring Budget: Warning over growing cost pressures amid lack of targeted support
Hospitality leaders have voiced concern following the Spring Budget, which did not include support for the sector despite calls for relief on business rates and employer NICs
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NewsFever-Tree reports FY24 growth with on-trade recovery
The mixer brand has reaffirmed its commitment to hospitality and on-trade partnerships as it posted improved performance in the UK
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NewsStrong 2024 fuels growth at Red Engine
The team behind Flight Club made combined sales of £118.3m in 2024, and plans to take its global estate to 84 sites by the end of 2030
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NewsJDW: Labour cost hit will have ‘disproportionate impact’ on pubs
Chairman Tim Martin said increases in national insurance and labour rates will cost the company £60m a year, approximately £1,500 per pub per week.
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NewsNorges Bank takes on 25% share in Shaftesbury Capital estate
The West End landlord has sold a 25% share to the Norwegian sovereign wealth fund for £570m, in a deal including landmarks like the Covent Garden Piazza
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NewsBurger King UK seeks refinancing
Sky News reports the Bridgepoint-backed QSR chain is working with DC Advisory, seeking an additional £40m of borrowing capacity
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NewsShepherd Neame: Budget will cost £2.6m
The family brewer and pub operator is planning to raise prices, review its capex spending, and transfer 10 pubs from retail to tenancy to improve returns
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NewsCornish Bakery exploring sale of the business
The bakery coffee shop chain has appointed advisors at Tamweel Capital to oversee a sale of the 66-shop business.
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NewsBroadwick Group acquires Camm & Hooper
The acquisition of the events company has further expanded Broadwick’s portfolio of venues, event services, and live entertainment
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NewsWestmorland invests heavily into food offer
The motorway service area operator reported a drop in turnover due to the economic backdrop and lower fuel prices, but this was offset by increased trading in its non-fuel business
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NewsDeliveroo achieves profit milestone
The delivery company achieved a full year of profit for the first time of £3m in 2024, compared to £32m loss in 2023
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NewsFuller’s agrees new £185m banking facility
The facility provides the pub company with “significant headroom” to pursue growth through acquisitions; while it is launching another around of share buybacks of up to one million ‘A’ shares