Finance – Page 309
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News
Losses narrow for IRC parent
The parent company of Individual Restaurant Company (IRC), the operator behind the Piccolino and Restaurant Bar & Grill formats, saw losses narrow in the year to 31 March 2013 as turnover grew 31.7% to £55.3m
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Ministry of Sound noise deal 'sets precedent'
The boss of the Ministry of Sound nightclub has welcomed a landmark agreement over noise in relation to a new property development, stating it will “set a precedent” for how new housing and existing businesses can live together
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NewsArkell's profits fall in 'challenging' year
Arkell’s, the Wiltshire-based brewer and pub operator, saw profits before exceptional items and tax fall 21% to £1.4m in the year to 31 March 2013
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Lfls up in excess of 8.5% at Rex Restaurants
Rex Restaurants, the company led by Jeremy King and Chris Corbin, saw like-for-like sales increase in excess of 8.5% in the nine months to December 2013, driven by a combination of increases in covers and average spend
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NewsFestive trading update part 2
La Tasca, ETM Group and Tortilla are the latest companies to talk to M&C Report about their performance over the festive season.
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News
Butcombe PBT falls 58.5%
Butcombe Brewery has reported a sharp fall in full-year profits and says it’s taking action against its legal advisors in relation to costs incurred to enact a break clause on a pub lease
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Jack: Spirit’s outperformance to have continued
A leading analyst has said that he expects Spirit Pub Company’s outperformance against the sector to have continued over the last 12 weeks
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Tynemill reports steep fall in FY profits
Tynemill, the East Midlands brewer and pub operator that trades as Castle Rock Brewery, saw pre-tax profits fall from £314,700 to £75,000 in the year to 31 March, a period the group called “particularly challenging”.
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Jack upgrades Domino's UK forecast, expects German losses to mount
Leading analyst Douglas Jack has upgrading his UK forecast for Domino’s Pizza after the company reported a 10.9% rise in like-for-like sales in the country in Q4, although he increased his 2013 losses forecast for Germany from £6m to £7.8m
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NewsDomino's UK lfls grow 10.9%
Domino’s Pizza has reported a 10.9% rise in like-for-like system sales in UK mature stores on the 13 weeks to 29 December - “partly driven by increased digital marketing activity and more favourable timing of the Christmas break compared to last year” - and said it will transfer 13 of its 15 corporate stores in Germany to franchises
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News
Chinese group secures Ram Brewery
Chinese group Greenland has made its first investment in the UK after securing the Ram Brewery in Wandsworth from Minerva for a total investment of £600m
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Original Bowling Co FY EBITDA grows 7%; festive lfls rise 8.4%
The Original Bowling Company (TOBC), the 44-strong Hollywood Bowl operator, has reported a 7% rise in EBITDA after central costs in the year to 30 September and saw an acceleration in like-for-like sales growth over the festive period
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News
Former Buddha Bar site to become events space
The former Buddha Bar at London’s Victoria Embankment has been acquired by to One Embankment Ltd for £3.9m and will be operated by Hammer Holdings alongside its One Mayfair and One Marylebone locations
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NewsOakman FY lfls rise 14.5%; losses widen
Oakman Inns and Restaurants, the Hertfordshire-based group led by Peter Borg-Neal, has reported a 14.5% rise in like-for-like sales in the year to 31 March as turnover grew 18.8% to £9m
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News
All Our Bars Christmas lfls rise 2.4%
All Our Bars, the Kent-based multiple pub operator led by Paul Wigham, has reported a 2.4% rise in like-for-like sales over Christmas but said it could have been better if the weather had been more favourable
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NewsRollo: Spirit one to avoid
A leading analyst has chosen Spirit Pub Company as one of his four stocks to avoid in 2014
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NewsCaffe Nero announces refinancing
Caffè Nero, the Gerry Ford-led Italian coffee chain, has announced that it had agreed a new debt financing package to support its “strong growth objectives”
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French upbeat on Domino's, TRG and Greggs
Leading analyst Simon French has reiterated his Buy recommendations for Domino’s Pizza, Greggs and The Restaurant Group (TRG), which all report trading updates this week
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News
Trust Inns PBT grows 6.8% in 'satisfactory' year
Trust Inns, the tenanted pub operator, saw pre-tax profits grow 6.8% to £2.3m in the year to 31 March.
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NewsLoungers eyes Cosy Club expansion; December lfls rise 8.6%
Loungers, the Piper-backed cafe bar operator, says its Cosy Club concept has the potential to expand to at least 70 sites, on top of at least 250 potential Lounge outlets