Finance – Page 52
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Analysis & InsightFulham Shore: ‘Too tempting an offer to refuse’
The cash offer on the table may not price in Fulham Shore’s full potential, but the acquisition by Toridoll represents a good deal at a time when the restaurant sector is not yet back to full strength
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NewsFulham Shore announces record revenue
Fulham Shore has provided a trading update ahead of its results for the year ended 26 March 2023, with a record revenue of £100m driven by new openings
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NewsWahaca focused on recovering restaurant volumes
The Mexican restaurant group recorded net profit before tax of £3m in the year to 26 June 2022 and said love for the brand remained strong.
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NewsParogon Group to accelerate expansion
The 10-strong pub and restaurant operator, which plans to open 10 new sites by 2025, has reported a £23.8m turnover for the year to June 2022
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NewsOakman benefiting from Chef Academy
The group said it now has the necessary employee resources to continue its growth plans thanks to the development of its Academy, with a Level 2 course due to launch later this spring.
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NewsPrezzo posts significant loss despite strong H2 performance
The Italian restaurant brand recorded a total statutory loss for the year to 2 January 2022 of £22.4m, but said that it had returned to profitability in the second half of the period
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NewsMegan’s reports strong trading ahead of 20th opening
Megan’s is on track to deliver sales growth of 70% in its current financial year, according to finance director Gill Clements.
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NewsOakman Group: ‘Concerns about inflation and taxation persist’
When adjusted for VAT, total sales were 17% up and lfl sales 6.9% up in the first 38 weeks of FY2022/23, with work commencing on two new sites
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NewsRunning a pub ‘is worse now than it was during COVID’
A potential 82% rise in energy bills could mean last orders for many pubs struggling to survive, Sky News reports
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NewsUK businesses face ‘week of woe’ as corporation tax rise hits
The main rate of corporation tax will rise from 19% to 25% from April, raising about £18bn a year for the Treasury, the FT reports.
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NewsLiving wage to add further 7% to employers’ pay bills next year
The potential rise is on top of the 9.7% increase in the main rate to £10.42 an hour from tomorrow, The Sunday Times reports
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NewsMarston’s secures extension of debt facilities
The 1,445-strong pub group has secured an amendment and extension of its bank and private placement debt facilities to the end of 2025
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NewsManaged and operator-led sites lead growth for Stonegate
The group’s leased and tenanted arm continued to see negative like-for-like growth last year but Stonegate saw a strong performance from its Craft Union business and managed division.
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NewsRekom posts strong revenue growth
The UK arm of the business is currently the group’s strongest performing division, achieving EBITDA of £18.4m in 2022
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NewsChopstix targeting 30 new sites and £65m revenue this year
The forecast uplift in revenue would equate to a 40% rise versus FY22, with the Asian QSR group targeting sales of more than £90m over the next financial year.
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NewsTasty selling two sites, considering further closures
The group is also considering converting further Wildwood restaurants to its dim t brand following a successful rebrand in Loughton
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NewsIssa Brothers eye £8bn bid for Subway
EG Group already has many Subway restaurants across its petrol forecourt empire, which also includes Leon, Cooplands and KFC’s biggest UK franchise
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NewsTortilla reports record revenue
The fast casual Mexican chain saw like-for-like revenue up 16.4% vs 2019 to a record of £57.7m and reports it is ahead of its growth targets
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NewsIssa brothers close to £12bn merger of Asda and EG Group
The billionaire owners of Asda are racing to complete a blockbuster merger of the supermarket chain and their UK petrol stations as part of efforts to cut their forecourts empire’s debt burden, The Sunday Times reports
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NewsWells & Co reports return to profit
The pub operator and brewer posted a turnover of £55.2m and operating profit of £3.3m for the year ended 2 October 2022