Finance – Page 304
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NewsJDW FY lfls rise 5.8%
JD Wetherspoon, the managed pub operator, has reported a 5.8% rise in like-for-like sales in the year to 28 July, with profits before tax and exceptionals up 6.3% to £76.9m, in what it called a “year of progress”
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Kopparberg reports 'extraordinary' summer sales
The Swedish cider maker says its sales in the on-trade grew 79% in July against the same month last year, with year-on-year sales in August up 55%
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NewsCBPE completes Cote acquisition
CBPE, the private equity firm that was once part of Close Brothers investment bank, is understood to have completed the acquisition of Cote, the Richard Caring-backed French brasserie chain, early this morning in a deal thought to be worth around £100m
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NewsStonegate turnover hits £484.3m; swings into profit
Stonegate Pub Company saw turnover grow 83% to £484.3m in the 53 weeks to 30 September 2012 as it benefitted from the first full-year of trading following the merger with Town & City Pub Company and its acquisition of 333 pubs from Mitchells & Butlers
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OpinionMcDonald’s sales up 1.9% in August
McDonald’s saw its global comparable sales increase 1.9% in August, thanks to a strong performance across its European operations, which reported a 3.3% rise during the month
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Analysis & InsightSector lfls grow 1.9% in August
Like-for-like sales across 27 leading pub and restaurant companies grew 1.9% in August, with growth much stronger among pub operators and outside London, new figures show
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Whitbread: Restaurants, Costa Express, margins, analysts
M&C Report takes a closer look at the Q2 and H1 update from Whitbread, reports from a presentation for analysts featuring chief executive Andy Harrison and finance director Nicholas Cadbury, and speaks to Cadbury
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NewsWhitbread growth slows in Q2
Whitbread, the leisure operator, saw a slowdown in growth in the second quarter of its financial year, with total like-for-likes in the 11 weeks to 15 August up 2.1% against a 2.6% increase across the half-year
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NewsJack: JDW can hold or grow margins
A leading analyst has said JD Wetherspoon, which announces its full-year results on Friday, has a good opportunity to hold or increase its margins
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NewsFY EBITDA up 47% at Be At One; agrees new bank funding
Be At One, the Piper-backed cocktail bar chain, has reported a 47% rise in EBITDA to £1.6m for the year 31 March 2013, against record sales of £11.6m, up 23% on the previous year
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NewsM&B rises to the top of the M&C20
Mitchells & Butlers has overtaken Greene King to become the company with the highest market capitalisation within the M&C20, following a well-received presentation to city analysts
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NewsAnalyst corner
Leading analyst look ahead to Whitbread’s Q2 interim management statement on 10 September. Notes from Barclays and JP Morgan both give an Overweight recommendation, whereas Simon French of Panmure Gordon reiterates his Sell recommendation for the Costa, Brewers Fayre, Beefeater and Premier Inn operator
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NewsFrench reiterates Buy for JDW
Leading sector analyst Simon French has reiterated his Buy recommendation and 806p Target Price for JD Wetherspoon ahead of its full-year results on 13 September and predicted a “solid” update on current trading
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NewsFY sales up 7.4% to KFC UK
KFC UK & Ireland, the fast food chain, has reported a decline in pre-tax profit for the year to 2 December 2012, from £47.2m to £39.1m, against a 7.4% rise in sales to £423.3m
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NewsCamerons FY EBITDA in line, reports pre-tax loss
Camerons, the Hartlepool-based brewer, has reported EBITDA of c£5.8m in the year to 28 April, in line with the previous year, despite reporting a pre-tax loss and seeing a dip in turnover
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BGF eyes Comptoir Libanais investment
The Business Growth Fund (BGF) is understood to be in talks to invest in Comptoir Libanais, the London-based Lebanese fast-casual concept, M&C Report has learnt.
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NewsSpirit managed lfls rise 4.1%
Spirit Pub Company reports a 4.1% rise in like-for-like net managed sales in the 12 weeks to 17 August and improving trends in its leased estate
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NewsEnterprise announces £100m bond offering
Enterprise Inns has announced an offering of approximately £100m of senior, unsecured Guaranteed Convertible Bonds due 2020, which it said would provide it with low cost, unsecured long-term funding, reduce its overall cost of borrowing, provide it with increased flexibility and enhance prospects for growth
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Osmond eyes 'triple-A' investment opportunities
Hugh Osmond, the high-profile investor, has told M&C Report he’d invest “as much as it takes” to grow a small number of “triple-A” leisure operators into national brands
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Fund launched to help SMEs become more energy efficient
ReEnergise Finance has launched a commercial finance vehicle aimed solely at providing funding solutions for SME businesses in regards to helping them become more energy efficient