Finance – Page 61
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NewsWolseley Hospitality Group reports strong trading in 2021
Despite Covid-related closures, the group reported strong sales in the year to December 2021 and plans to open two restaurants next year
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NewsPuttshack raises $150m in growth capital
Led by BlackRock and Promethean Investments, the investment round will support the mini-golf concept’s rollout in the United States
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NewsMarston’s 2022 sales hit by Omicron
The pub company saw an improvement in the last 10 weeks of the financial year, with like-for-like sales 3% up on 2019
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NewsScoffs continues trading momentum
The Costa Coffee franchise saw turnover grow 50% in 2021 to £35.8m, as it targets 20 new openings a year
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NewsGreene King acquires Hickory’s
The pub company plans to leverage its scale and accelerate the national roll out of the smokehouse restaurant brand with “significant growth” over time
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NewsItsu achieves restaurant EBITDA increase of +160%
The Asian food brand said it expected shop sales in H2 2022 to match 2019 sales on a like-for-like basis, which it described as “a significant achievement”
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NewsCooks Coffee announces £1.5m capital raise
The Esquires and Triple Two Coffee franchise operator has announced a planned £1.5m fund raising in conjunction with its proposed admission on the Aquis Stock Exchange
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NewsTim Martin: ‘Momentous challenge’ to lure customers back to pubs
The Wetherspoon chairman described a “painstakingly slow” recovery after lockdown, as the pub company posted a loss of £30.4m
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NewsPizzaExpress builds new pipeline of UK sites
The restaurant group significantly reduced its losses to £48.9m in the year to 2 January 2022, with its UK & Ireland business contributing EBITDA of £80.7m
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NewsJollibee to maintain UK openings programme
The Filipino fast food chain recorded a loss of £4m in the UK last year, with VP market head for Europe, Adam Parkinson recently stepping down from his role
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NewsBrewDog Retail reports revenue growth
The brewer and operator’s retail division reported turnover of £36.9m, up from £25.2m in 2020 but behind pre-pandemic levels
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NewsCity Pub launches share buyback programme
The 40-strong pub group has commenced a share buyback programme, in respect of its ordinary shares of 1p each, as referenced in its interim results last month
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NewsBurger & Lobster achieves 40% rise in revenue
The nine-strong London restaurant group achieved EBITDA of £1.8m in the year to 2 January 2022 and said it was actively looking for new sites in the UK and overseas
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NewsRare Restaurants’ owner turns around £11m loss
Parent company Lomo Topco has announced turnover for the group, which operates Gaucho and M Restaurants, of £53m for the 53 weeks to 2 January 2022, up from £29.6m in 2020
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Analysis & InsightFive Guys boosts UK profits
Five Guys has reported a 45% increase in revenue within its UK business, to £237.3m for the year to 31 December 2021,with profit after tax of £26.2m - up from £1.8m the prior year.
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NewsGreggs continues to trade well despite challenges
Like-for-like sales in company-managed shops rose by 9.7% when compared with the same period in 2021
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NewsRevenue up but pre-tax profit down at Tortilla
The fast-casual Mexican restaurant business reported strong like-for-like sales in the first half of FY21 and into the summer, despite the impact of the heatwave and rail strikes
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NewsBurger King UK to acquire 74 franchise restaurants
The business, which has secured £110m in fixed-term financing, is to indirectly acquire the sites from its second largest franchise partner, through the acquisition of the Karali Group.
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NewsMcDonald’s Restaurants see strong profit uplift
The UK business achieved profit after tax of £113m for the year to 31 December 2021, compared to a loss of £19m in 2020, with like-for-like sales up in 2022
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NewsPub and restaurant groups see share value plummet
Escalating energy costs combined with the impact on the economy from the government’s mini-budget has sent share prices tumbling further down