Finance – Page 45
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NewsTurtle Bay announces 'record year'
The Caribbean restaurant group reported record sales of £90.1m for the year ended April 2023, along with like-for-like growth of 32.6% vs 2019
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NewsCraft Union delivers ‘standout performance’
Stonegate said it delivered a “highly respectable performance” during the 28 weeks to 9 April, with group revenue up 9.3% to £904m
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NewsPret reports return to profitability
The food to go chain reported half year sales were up 20.2% to £429.9m compared to 2022, as it moved back in the black for the first time since 2018
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NewsTortilla announces progress on expansion
In a H1 2023 update, the Mexican concept announced record performances at its franchised sites with SSP, with further sites in the pipeline
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NewsUber lifts bonnet on £3.4bn UK revenue
Uber Eats contributed £700m to group revenue in the UK last year, taking market share from other delivery apps, The Times reports
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NewsC&C Group reports ‘encouraging performance’
The premium drinks company has issued an update ahead of its AGM today, with net sales revenue for its branded business up 10% in early FY24
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NewsHakkasan Group reports post-pandemic recovery
Revenue rose 121% to $71.8m vs 2020, with the group saying “a strong focus remains on the UK market” alongside global expansion
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InterviewsBone Daddies reports ‘consistent demand’
The group, operator of Bone Daddies Ramen, Flesh & Buns, and Shackfuyu, posted £17.3m in revenue for the year ended September 2022
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NewsLoungers to accelerate to 34 new openings a year
The all-day cafe-bar operator has identified potential for at least 600 Lounges across the UK, as it reports record revenues of £283.5m
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NewsWetherspoon reports ‘continued improvement in sales’
The pub operator expects profits for the current financial year to be in line with market expectations, and an “improved outcome” for FY24
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NewsBig Table reports improved sales and profits
The Las Iguanas and Banana Tree operator posted EBITDA of £12.9m for FY22, showing it as a “resilient, efficient” business
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NewsOak Taverns completes £2.5m refinance
The loan from Cynergy Bank puts the Oxfordshire-based operator in a “great position to grow”
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NewsMcMullen’s surpasses £100m turnover
The brewer and pub operator reported results for the year to October 2022, achieving over £100m in turnover for the first time in history - although cost inflation eroded margins
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NewsMoto Hospitality surpasses £1bn turnover
The 69-strong operator reported a ‘robust’ post-pandemic recovery in 2022, with turnover rising by 34% on the prior year
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Analysis & InsightM&A: ‘The best businesses always sell’
Dealmaking activity in the pub sector is expected to pick up in the latter part of 2023, as inflation belatedly begins to come under control, Peter Hansen, partner at Sapient Corporate Finance predicts
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NewsYoung’s continues strong summer trading
The pub operator has released a statement ahead of its AGM today, with revenue in the first 13 weeks of 2023 up 6.8% on a like-for-like basis vs 2022
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Analysis & InsightPeel Hunt: Loungers’ strong sales will drive equity
Loungers, which is forecast to generate strong profit growth over the next two years, represents “excellent value”, according to analysts
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NewsKrispy Kreme revenues up but profits down
The doughnut chain reported revenue of £117m in 2022 and profit after tax of £4.1m, saying it has progressed well on its omnichannel strategy
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NewsPizza Pilgrims in strong position to grow
The restaurant group wants to “own the pizza agenda” by leading on menu innovation, marketing, and pizzeria fit-outs
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NewsBrewhouse & Kitchen reviews sales options
The brewpub business is engaged in a strategic review to identify the “optimum way to create liquidity for investors”