Finance – Page 50
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NewsRestaurant Brands International reports strong global sales growth
The Canadian-based restaurant group, which operates Burger King, Tim Hortons, Popeyes and Firehouse Subs, reported global like-for-like sales were up 10.3% in Q1 2023
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NewsBlack Sheep Brewery to appoint administrators
The North Yorkshire brewer and pub operator has been unable to secure new investment after being hit hard by the pandemic and rising costs
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NewsPrezzo braces for landlord showdown over restaurant closures
Prezzo’s restructuring plan will be voted on by creditors later this month after it announced the closure of a third of its 143 sites, Sky News reports
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InterviewsNick Mackenzie: We don’t need more acquisitions to improve food
The Greene King CEO hailed a solid financial performance against a very difficult backdrop, with profits up and customers returning to pubs
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NewsMamma Dough acquired out of administration
Five of the pizza group’s seven sites will continue trading after it was acquired by the owners of The Exhibit bar in Balham
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NewsRestaurant Group reports ‘encouraging trading’
Like-for-like sales at Wagamama were up 2% for the 13 weeks to 2 April 2023 but down 4% with its Leisure division, with the group to accelerate its previously announced rationalisation programme
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NewsHostmore reports significant loss for FY22
The group, which operates Fridays, 63rd+1st and Fridays and Go, recorded a loss of £91.9m for the 52 weeks to 1 January 2023, compared to a profit of £11m the prior year.
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NewsLiberation Group sees strong start to year
The group reported sales in its UK managed pub estate were up 4.7%, for the 12 weeks to 22 April 2023, with Cirrus Inns now successfully integrated into its Butcombe Pubs and Inns business
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NewsGreene King achieves +60% increase in group revenue for FY22
The pub company and brewer reported adjusted operating profit of £192.6m for the 52 weeks to 1 January 2023, compared to £18.6m the prior year, with the new financial year to be one of continued investment
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NewsHeineken to invest £40m in pub upgrades
Around 570 sites in the Star Pubs & Bars estate are due to benefit from investment, with a key focus on its neightbourhood locals as more pubgoers are choosing to visit a pub that is closer to home
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NewsMowgli enjoys ‘strong year’ with significant revenue rise
The Indian street food restaurant group, founded by Nisha Katona, saw revenue up 214%, to £26.9m, in the full year to 31 July 2022
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NewsPlanet Organic closes four stores in pre-pack deal
The upmarket supermarket chain could axe its food to go offering as part of a rescue plan drawn up by its management team and investors
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InterviewsPeter Borg-Neal: ‘We will not sell for cheap’
The Oakman CEO has begun implementing an action plan to reduce central costs, build sales and improve profits, before considering exit options such as a trade sale or private equity when market conditions improve
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NewsTRG should ‘just own Wagamama’
Shareholder Irenic has called for The Restaurant Group to sell off all non-core assets, reduce debt and unlock the global potenital of Wagamama
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NewsTapas Revolution leaves deficit of £4.3m
The Spanish-inspired casual dining group, which trades from nine locations, was acquired in a pre-pack deal by company MD James Picton for £235,000
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NewsMcDonald’s reports consistent global sales performance
The fast food brand reported strong global sales growth across each of its market segments, with guest counts up across the world
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NewsMJMK launches £1m crowdfund campaign
The group behind Casa do Frango and Santiago Lastra’s KOL is launching a crowdfunding campaign to raise funds for further growth, including a second concept
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![Bar + Block interiors[78]](https://d36hgjhwuw81py.cloudfront.net/Pictures/100x67/1/6/3/292163_barblockinteriors78_101429.jpg)
NewsWhitbread F&B sales behind pre-pandemic
Sales were 40% ahead of FY22 for the 52 weeks to 2 March 2023, however they remained 4% behind pre-pandemic levels
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NewsLoungers achieves ‘industry-leading’ like-for-likes
The group reported stronger like-for-like sales growth in H2 FY23 of 11.8%, and record revenue for the financial year of £285.3m
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NewsBrighton Pier Bars post revenues of £15.5m
The bars, which include Lola Lo, Le Fez and Coalition, achieved EBITDA of £3.5m in 2022