Finance – Page 38
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NewsAdmiral Taverns reports resilient trading
The c1,500 strong pub group said that its continued investment in pubs and licensees was driving growth in a “volatile external environment”
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NewsWetherspoon sees continued ‘gradual improvement’ in trading
Like-for-like sales were ahead of the market and up 9.5% in the first 14 weeks of the year, with inflationary pressures easing
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NewsGlenshire Group acquires 16 Pizza Hut sites
The Scottish family-owned conglomerate also operates 21 Greens Retail convenience stores and sees “significant synergies” betwween the combined businesses
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NewsOakman to issue £10m loan note
The pub operator is looking to refinance £5m of third-party debt and develop new sites, such as Bush Hall in Old Hatfield, the Beech House in Epsom and Batchwood Hall in St Albans
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NewsPizza Express decides not to make an offer for TRG
Parent company Wheel Topco has cited market conditions for not proceeding with a bid for TRG
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NewsPapa Johns ‘confident’ in long-term potential of UK
CEO Rob Lynch said profits in the third quarter were impacted by the “dilutive impact” of recent UK acquisitions
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NewsStarbucks reports £30bn sales
Comparable same-store sales in the UK were “well above” historical averages in 2023, driven by higher profitability and productivity store formats, and elevated digital experiences
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NewsWendy’s pushes ahead with UK expansion
The QSR brand has added a new franchisee to the UK market, while its three existing franchisees have increased their development agreements, highlighting their “confidence in the long-term trajectory of the brand”
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NewsYum! Brands sees strong Q3 momentum
KFC sales across Europe saw year-on-year growth of 13% in the quarter ending 30 September 2023, with the period also seeing record digital sales
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NewsCoffee#1 posts record sales
Revenues were up 22% in the third quarter, while the neighbourhood coffee shop business posted a £1m sales week for the first time
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NewsWingstop UK sees ‘record sales volume’
The brand’s international markets are seeing double-digit growth, driven by transactions and outlet expandion in the UK business
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NewsDelivery and drive-thrus drive growth for McDonald’s UK
Despite its high street estate impacted by declining footfall, the fast food giant said like-for-like growth has been driven by other channels
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NewsVarious Eateries to expand Noci concept
The modern pasta concept continues to perform well, with H2 like-for-like sales at the first Noci site in Islington growing 23%
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NewsMcDonald’s: Saver menu drives market share
Accessibly priced combos have driven share in core day parts, while the McCrispy chicken continues to be highly popular in the UK, according to CEO Chris Kempczinski
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NewsCosta Express grows sales to £348m
The self-serve coffee business installed 1,466 machines in 2022, but operating profit was down due to higher costs
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InterviewsPunch Pubs confident in internal expectations
The 1,248-strong pub operator expects cash flow, profitability, and EBITDA to grow going into FY24, according to CEO Clive Chesser and CFO Steve Dando
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NewsPunch Pubs reports strong full year results
The 1,248-strong pub operator reported like-for-like growth across divisions, with total revenue of £313.5m for FY23, up from £284.4m in FY22
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Analysis & InsightIs investment returning to the hospitality sector?
Nick Wallis, partner at Shelley Sandzer Corporate Finance, sees positive signs for the recovery of the sector in a flurry of recent M&A deals
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NewsJKS revenues reach £50m
The Sethi family-run restaurant group nearly doubled sales in 2022, while EBITDA was £5.5m
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NewsBoxpark grows sales by 35%
The dining, leisure and retail concept posted revenues of £20.5m and EBITDA of £5m in the year to April 2023