Finance – Page 6
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NewsMcDonald’s names UK as one of most ‘challenged’ markets
The company’s Q4 results were partly offset by negative comparable sales in some markets, led by the UK, with new initiatives implemented to drive performance
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NewsHospitality spending grows despite consumer caution
Pubs, bars & clubs, and restaurants recorded 2.6% year-on-year growth in January, according to the latest Barclays Consumer Spend report
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NewsCornish Bakery accelerating expansion this year
The business has opened six new sites with “a further five under offer”, since its year end in May 2024, and is on target to achieve a significant uplift in EBITDA, to reach in excess of £5m in FY24/25
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NewsPernod Ricard cuts sales outlook on tariff uncertainty
The French spirits group has been hit by slump in Chinese demand for cognac following anti-dumping measures
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InterviewsLoungers deal ends years of frustration over share price
Management did “all we could” to boost the Lounge and Cosy Club operator’s standing on the public markets, but in the end its ‘take private’ deal with Fortress offered the best result for shareholders, chairman Alex Reilley tells MCA
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NewsRed Engine reports record-breaking Q4
The operator behind experiential concepts Flight Club and Electric Shuffle announced sales of £25.3m, up 24% on 2023, with plans to reach 39 venues by year end
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NewsKFC UK sales up 5% in Q4
UK trading in the fourth quarter was an improvment on Q3’s 6% sales dip, while Yum! Brands reported KFC’s UK sales were down 1% for the full year
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NewsKeystone Brewing Group acquires North Brewing Co
The investment vehicle, which was formed out of Breal Capital, added the Fourpure and Magic Rock brands to its growing portfolio last week
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NewsFairgame completes multimillion-pound growth capital raise
The competitive socialising concept will launch a new venue in the City while pushing ahead with US expansion and international franchising
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NewsNoble Hospitality Group revenue boosted by expansion
The parent company of Chotto Matte, Angus Steakhouse, and Alley Cats Pizza reported £54.2m revenue for the 18 months ended 30 April 2024
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NewsDRG posts record turnover as it prepares for UK expansion
Scottish restaurant operator Di Maggio’s Restaurant Group (DRG) has posted a record turnover of £49.52m for the year ending April 2024, up £3.68m year-on-year
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NewsNightcap acquires Brighton i360 viewing tower
The Sarah Willingham-led late night group will operate the viewing tower and hospitality areas of the attraction, in a “fresh start” for the i360
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NewsWagamama issues £330m in senior debt
As part of a refinancing and new capital structure, The Restaurant Group has been split up into three separate divisions. A source said there were no imminent plans to break up the group
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NewsDiageo faces profit hit over Trump tariffs
The drinks company is under pressure from new tariffs and has removed medium-term guidance due to uncertainty in many of its key markets
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NewsVarious Eateries encouraged by growing momentum
The group reported 9% revenue growth in FY24 and a solid start to FY25, including a strong festive period that reinforced confidence in its trajectory
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NewsDaisy Green grows turnover by 27%
The Aussie-style cafe-restaurant operator, which trades from 17 venues in London, generated turnover of £22.7m in FY24 and looks to continue investing in new sites
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NewsIncipio Group achieves 21% like-for-like growth
The bar group has also made a series of senior appointments ahead of its anticipated launch at a 39,000 sq ft space in London’s Olympia this year
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NewsTortilla secures new investor
The fast-casual Mexican restaurant group has announced that long-term backer Quilvest Capital Partners has sold its 20% stake to Auctor Group, as part of the winding down of its fund.
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NewsAdmiral Taverns sees profits up on last year
The community pub group reported an increase in underlying EBITDA for the year to 26 May 2024, to £59.7m, which it expects to exceed in the current financial year, supported by strong sales and investment in its estate.
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Weekend PressLuxury Dubai restaurant chain eyes London float
Fundamental Hospitality, founded by chairman Evgeny Kuzin, is in the early stages of gearing up to go public, This is Money reports.