Finance – Page 62
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NewsIncipio achieves ‘all-time high’ turnover
The bar group recorded turnover of £14.9m for the 52 weeks to 26 December 2021, compared to £6.3m in 2020, and remains commmited to expansion within Greater London
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NewsDowning acquires The Pub People Group
The investment manager has acquired the group and merged it with its existing investment in Autumn Pubs, with a view to expanding the combined business
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InterviewsDavid Campbell: PizzaExpress restructure ‘great for everyone’
The former CEO discussed the turnaround job at the casual dining chain at MCA’s Restaurant Conference
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NewsMitchells & Butlers: food sales continue to drive growth
Like-for-like sales rose significantly for food but dropped for drink, with an overall decline of 0.9% compared to 2019
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NewsIvy revenues surpass £200m
The restaurant group achieved a turnover of just over £200m, up on £198.7m in 2019, and plans to open seven new sites this year
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Analysis & InsightAlixPartners: ‘Underlying dynamics of hospitality remain strong for investors’
Despite short-term disruption, the sector should focus on the longer-term positive outlook, MD Graeme Smith told delegates at MCA’s Restaurant Conference
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NewsJust Eat expects earlier return to profit
Due to progress in improving profitability, the delivery platform expects to generate positive adjusted EBITDA in the second half of 2022
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NewsShepherd Neame reports return to profit
The 300-strong pub operator has announced it will seek investment and acquisition opportunities following significant revenue growth
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NewsArc Inspirations plans to double business
The premium bar operator announced plans to double the size of its business in the next three to five years, following strong sales in the year to 31 March 2022
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NewsSSP sees passenger numbers rebound
The travel concession operator said trading had recovered to near 2019 levels
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NewsDishoom sees significant increase in revenues
Trading growth has continued during 2022 and guest numbers have returned to pre-Covid levels at the Indian restaurant group
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NewsSoul Foods secures ‘significant minority investment’
The UK and Canada-based KFC, Starbucks and Taco Bell franchise secured the investment from Centerbridge Partners, Metric Capital Partners, and OpCapita
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NewsBrewhouse & Kitchen: ‘2022 has been extremely challenging’
The group reported a loss before tax of £1.9m for the year to 25 September 2021, with 2022 challenging due to extra cost pressures
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NewsBrighton Pier Group’s sees bar sales up
The group’s Bars division achieved revenue of £11.2m in the 52 weeks to 26 June 2022, compared to £1.3m in 2021, with like-for-like sales up 21% on pre-Covid levels
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NewsComptoir reports strong sales and profit
In its interim results, the group has stated it remains cautious but optimistic for the future due to the strength of its balance sheet
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NewsHostmore YOY revenue more than doubles
Group revenue increased by 147%, to £98.5m, in the six months to 3 July 2022, but recent like-for-like trading has been weaker than comparable pre-Covid levels, down 14%
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NewsCity Pub back to pre-pandemic trading levels
The group achieved revenue of £26.1m over the six-months to 26 June 2022, compared to £8.9m in H1 2021, with its financial position strengthened albeit with a rising cost burden
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NewsTasty faces ‘severe headwinds’
The Wildwood operator reported a loss after tax of £2.7m, as it warned inflationary pressure on labour, food and utilities was impacting the business “considerably”
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NewsRecord accommodation sales boosts Liberation Group
The Channel Islands-based operator saw a strong performance in the UK, with recovery in Guernsey and Jersey boosting trading
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NewsInflation expected to have reached 10.2%
The latest figures, to be published by the Office for National Statistics on Wednesday, will put pressure on the Bank of England to recommend a further interest rate rise later this month