Finance – Page 303
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News
Essenden H1 lfls up 0.7%
Essenden, the ten pin bowling operator, which is currently considering acquisition opportunities across the restaurant and bar sectors, has reported a 0.7% increase in like-for-like sales for the 26 weeks to 30 June 2013
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NewsJack: M&B is 'one for 2014/2015'
Leading sector analyst Douglas Jack says he expects most of the upside for Mitchells & Butlers (M&B) to occur over the medium term
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News
AG Barr half-year volumes grow 4.2%
AG Barr, the soft drinks company, has reported a 12.3% rise in pre-tax profits to £16.6m in the six months to 28 July as it grew volumes sales by 4.2% over the period
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NewsM&C20 underperforms against FTSE
The M&C20 underperformed against the FTSE All Share this week despite a strong performance from Punch Taverns
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News
Analyst corner
Wayne Brown of Canaccord Genuity says his confidence in The Restaurant Group’s (TRG) outlook and market positioning has been “significantly enhanced” after a site visit to TRG’s Coast to Coast and Frankie & Benny restaurants in Brighton
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NewsFY EBITDA stable at Gaucho
Gaucho, the Argentinean steakhouse concept led by Zeev Godik, reported flat EBITDA growth in its last financial year, as interest payments and the closure of its Beirut site impacted turnover
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News
Land Sec raises stake in X-Leisure
Land Securities is to raise its stake in X-Leisure to 95%, after agreeing to purchase a further 35.6% interest in the UK’s largest leisure fund, for £104m
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News
Booker lfls accelerate in Q2
Booker Group has reported an acceleration of like-for-like sales in Q2, with the good weather lifting sales in its catering division and “solid progress” in Booker Direct, its delivered wholesale arm
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News
Doom Bar lifts Sharp's sales 30%
Increasing demand for Doom Bar helped Sharp’s, the Molson Coors-owned Cornish brewer, grow sales by 30% in the year to 29 December 2012 against the comparative 12-month period in 2011
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News
Luke Johnson makes Plymouth investment
Serial sector investor Luke Johnson is hoping to attract more businesses from the professional, financial or creative sectors to Plymouth after acquiring the Poseidon House office building in the city
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Analysis & Insight
Deals save consumers £170k on average
British consumers are saving up to £170,000 on eating out on an average weekday when using restaurant deals, according to new research daily deal aggregator Bownty.com
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News
SAB Miller outlines strategy
SAB Miller, the global brewer, will not change its strategy under new chief executive Alan Clark and has outlined three elements to his approach in a presentation to analysts
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NewsCollyer: JDW 'an enigma'
Leading analyst Geof Collyer has labelled JD Wetherspoon an “enigma” that “continues to confound and delight”. He raised his Target Price for JDW from 660p to 695p but reduced his forecast by 3%
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News
Chapel Down: £4.5m funding, poor harvest hits H1
Chapel Down, the wine maker, has raised £4.35m in new funding for expansion as it reports a halving of EBITDA to £145k in the six months to 30 June
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OpinionThe investment case
At four o’clock last Wednesday morning the deal for Cote, which had been nearly a year in the making, finally got over the line. Many had questioned whether it would actually happen, with rumours of a parked process and complications over finding a chairman, but there was always a sense that this was one deal that would go through. So what next for the brand and for the leisure sector as a whole and what further opportunities are on the horizon?
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News
Amber secures new funding
Amber Taverns, the fast-growing operator of wet-led community pubs, is set to acquire another 30 sites after it increased its debt facility with Lloyds Banking Group by £5m to £27.5m
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News
Abokado on track for FY sales of £7m
Abokado, the London-based chain of healthy food bars led by Mark Lilley, is on track to report full year sales of c£7m, as it looks to have an estate of 25 sites by the end of next April
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NewsPubs drive M&C20 outperformance
The M&C20 outperformed the FTSE All-Share index for the sixth week in a row this week, growing 1.4% to 1,200 while the FTSE All-Share could only manage a 0.8% increase to 1,019
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News
Theakstons profits surge; urges PBD review
The North Yorkshire brewer has reported a sharp rise in profits in the year to 31 December 2012 and called for a formal review of the system of tax breaks for smaller brewers
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News
Jack: Sector acquisitions at six-year high
The current period is the most active for acquisitions in the licensed retail sector since 2007, a leading analyst has argued following the £100m sale of Cote and the expected imminent sale of 300 Greene King pubs