Finance – Page 37
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NewsGymkhana’s owner raises funds to buy out investor with Abraaj ties
JKS Restaurants has raised in the region of £10m to expand its portfolio of restaurants and bars into more international markets, the Financial Times reports
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NewsOttolenghi reports strong trading
The group, which operates sites including Nopi and Rovi in London’s West End, reported turnover of £27.8m in the year to March 2023
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NewsCooks Coffee: Growth underpinned by strong demand
The 68-strong Esquires operator reported a 22% increase in UK store sales in the six months to 30 September
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NewsM&B reports record market outperformance
The Toby Carvery and Harvester operator reported like-for-like growth across its portfolio, with total revenue of £2,503m for the year ended 30 September
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NewsEG Group: Foodservice represents significant growth opportunity
The group’s foodservice gross profit increased by 24% to £174.1m in Q3 2023, boosted by improved margins across the UK and Ireland
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NewsTRG shareholders approve sale to Apollo
In total, 93.53% TRG shareholders voted to approve the deal, which will see the Wagamama and Brunning & Price operator taken private
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NewsLoungers: Not all doom and gloom in the hospitality sector
The cafe-bar group is “living proof” that strong businesses are still capable of thriving, as it reports half year revenue up 22% to £150m
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NewsJoe & the Juice surpasses £45m turnover
Revenue for 2022 grew 66% compared to £27m the prior year, and is expected to grow by another 20-30% in 2023
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NewsPho continues expansion amid sales growth
The Vietnamese restaurant group reported turnover of £58.3m for the year ended February 2023, with an “extensive pipeline” of new sites being progressed
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NewsNightcap counts cost of rail strikes
CEO Sarah Willingham railed against the “ruthless continuation” of the industrial action, which is estimated to have cost the company £2.9m in lost revenue, and seen like-for-like revenues decline by 12.5%
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NewsMcDonald’s ups stake in China business
The acquisition of investment firm Carlyle’s 28% holding in the burger chain’s China business will allow the corporation to “further benefit from our fastest growing market’s long-term potential”
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Hawksmoor drives turnover with strong recovery
Revenue rebounded strongly in 2022 for the steakhouse group, with turnover up 107% to £73.9m, attributed to both maturing restaurant growth and new openings
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NewsDrinks and accommodation drive growth at Young’s
The pub company reported interim results with revenue of £196.5m and room revenue termed the “standout performance” during the period
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NewsFuller’s: Market outperformance driven by growth across areas
The pub operator reported revenue of £188.8m for the half-year to 30 September, with double-digit like-for-like growth across food, drink, and accommodation
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NewsSoho House reports continued membership growth
The members’ club now has a total of 110,333 UK members across its Soho House, Soho Friends, and Soho Works concepts
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NewsJoe & The Juice acquired by General Atlantic
The investment will further accelerate growth across international markets, including the US, Middle East and UK, and reduce debt on the company’s balance sheet
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NewsDaniel Thwaites reports ‘solid’ half year performance
Pubs and inns traded well in the six months to 30 September, driven by intervals of good weather and an improved staycation market
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NewsDiageo updates medium term guidance
While growth continues to be strong in Europe, Diageo cited a weaker performance outlook in Latin America and the Caribbean
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NewsKrispy Kreme: UK pricing and cost control drives EBITDA
Krispy Kreme has reported Q3 2023 results, with international adjusted EBITDA margin expansion in part driven by initiatives in its UK estate
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NewsDomino’s sees continued sales growth
The pizza business reported Q3 total system sales up 5.5%, driven by an acceleration in new store openings