Finance – Page 305
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News
Services sector growth continues
Business activity in the services sector grew in August at the sharpest pace since December 2006, according to the latest Services Index from Markit/CIPS
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NewsLoungers reports 7.9% rise in sales
Loungers, the Piper-backed group led by Alex Reilley, has reported a 7.9% increase in like-for-like sales for the first four months of its new financial year (1 May – 31 August), with total net sales for the same period up 62.5% to £10.15m
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News
TCR London reports turnover of £7.2m
TCR London, the company set up to acquire the former assets of Town Centre Restaurants for £3.7m, last June, has reported turnover of £7.2m for its first seven months of trading to 3 February 2013, with EBITDA of £500k
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NewsJack and French reiterate Hold for Greene King
Leading analysts Douglas Jack and Simon French have reiterated their Hold recommendations for Greene King following its Q1 interim management statement yesterday
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News
French: Only certain equity in Punch’s is Matthew Clark stake
A leading analyst has said that the Punch Taverns’ only certain equity value is in its shareholding in Matthew Clark
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NewsH1 EBITDA up 14% at Prezzo
Prezzo, the Jonathan Kaye-led group, has this morning reported a 14% increase in adjusted EBITDA to £12.6m for the 26 weeks to 30 June 2013 and said it remained confident of “delivering a satisfactory outcome for the whole year”
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News
Wear Inns turnover grows 58%
Wear Inns, the fast-growing northern pub operator, has reported a 58% rise in turnover to £11.8m in the year to 31 March as it grew its estate from 15 to 26 pubs
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NewsBrewDog raises £3m via share issue
BrewDog, the Scottish brewer and pub operator, has raised £3m of its fund raising £4m target under its latest crowdfunding scheme in about 10 weeks
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NewsUpham Pub Co raises £11m for expansion
Hampshire-based Upham Pub Company has raised about £11m for expansion under the Enterprise Investment Scheme and hopes to increase this to £15m by the end of the year, co-founder David Butcher has told M&C Report
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NewsGreene King Retail LfLs rise 4.6%; reaches 1,000 managed sites
Greene King has reported a 4.6% rise in like-for-like sales across its Retail arm in the 18 weeks to 1 September, with “difficult” comparatives of the Jubilee and Euro 2012 “offset by the better summer weather”, and says it reached 1,000 managed sites
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News
FLS lending up, but SMEs still miss out
Lending under a flagship state scheme increased between April and June, but lending to small and medium-sized enterprises (SMEs) continued to fall
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NewsPunch lfls up 0.4%, to launch restructuring
Punch Taverns has reported a 0.4% rise in like-for-like net income across its core estate for the 12 weeks to 17 August 2013 and believes a consensual restructuring can be launched in H2
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NewsHeineken UK: on-trade dip in 2012, fruit cider lift
Heineken UK says the poor summer weather and “challenging” consumer environment in 2012 led to a fall in consumption in the on-trade in the year
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NewsM&C20 outperforms market by 16%
A pound invested in the companies that comprise the M&C20 at the beginning of May would now be worth nearly £1.16, as the index ticked up a percentage point this week to reach its highest level - 1,159
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NewsUK weather hits Krispy Kreme Q2 comps
Krispy Kreme, the doughnut retailer, says the unseasonably warm weather in the UK in July and the timing of major holidays outside the US contributed to a lowering of comps in its international franchise arm in the three months to 4 August compared to the previous quarter
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News
Restaurant sales up 5% at Westfield
Westfield has reported a 4.5% increase in sales across its two London centres for the first six months of 2013, helped by a 5% rise in restaurant sales
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NewsTRG H1 lfls up 5%
The Restaurant Group (TRG) has reported a 5% increase in like-for-like sales for the 26 weeks to 30 June 2013, with EBITDA up by 12.6% to £46.9m (2012: £41.7m).
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NewsLosses widen at Paul UK
Paul UK has reported a widening of pre-tax losses for the year to 31 December 2012, after its trading patterns in London were impacted by last summer’s Olympics and Royal events
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NewsManagement initiatives to aid Spirit trading
A leading analyst is forecasting a pick-up in managed LFL sales in Q4 to c.4% for Spirit Pub Company, which he said will be due to a combination of more favourable weather and management initiatives
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News
Greene King results will be 'more than robust'
Leading sector analyst Geof Collyer expects Greene King to report “more than robust” results for its retail arm for the first quarter of its current financial year