Finance – Page 66
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NewsSSP buoyed by travel sector recovery
The food and beverage concessions operator reported steady recovery, with revenue running at 87% of 2019 levels overall and UK revenue at 82%
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NewsWetherspoon: ‘recovery more laborious than anticipated’
Despite an improvement in sales since the last quarter, the company announced it is yet to return to pre-pandemic trading levels
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NewsLoungers reports record full year sales
The group achieved revenues of £237m for the 52 weeks to 17 April 2022 and has increased its openings target from 25 to 30 sites per year
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NewsTurtle Bay reports record sales
The Piper-backed Caribbean restaurant group reported sales of £85.4m for the year ended 27 March 2022, with trading in the first 13 weeks of the year still strong.
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NewsGDK owner plots New York IPO
Glasgow-based Hero Brands, which owns German, Doner Kebab, Island Poké and Choppaluna, plans to open 223 sites by the end of this year, bringing its total to 400
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NewsTRG acquires Barburrito for £7m
The Restaurant Group sees potential to double the Mexican fast-casual brand’s 16-strong estate in the next four years, particularly in the South of England
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NewsHostmore lfls in line with expectations
In an update on trading for the 26 weeks ended 3 July 2022, the group, which operates Fridays and 63rd+1st said guidance for the full year remained unchanged
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NewsOakman considering selling minority stake to private equity
Executive chairman Peter Borg-Neal told MCA’s Pub Conference with the current economic uncertainty in the world, operators needed to be “well capitalised or sell their business”
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NewsAbsurd Bird enters administration
Five physical restaurants have closed, but the brand will still be available for delivery at its virtual restaurants
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NewsTen Entertainment sees sales +50%
The bowling and family entertainment centre group achieved a 52.6% increase in total sales for the 26 weeks to 26 June 2022, compared to 2019 figures
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NewsOakman trading up 11% in June
However as a result of challenges with staffing and restricted trading, the pub group estimates it has lost around a further 2-3% of growth
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NewsYoung’s reports excellent trading as Dardis steps down
The premium managed pub company reported trading was up 34.9% on a like-for-like basis in the first 13 weeks of the year
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NewsGusto Italian reports ‘resilient results’
The premium casual dining group reported a resilient performance in the year to September 2021, with a turnover of £12.3m
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NewsPret reports H1 revenue up 230% on 2021
The food to go brand said regional sales had outstripped growth in the capital on a like-for-like and total revenue basis, with the group returning to profit in March
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NewsStonegate places 75 pubs on the market
The package of former Ei Group freehold pubs has been valued at up to £100m, with the sites located across England and Wales
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NewsCut to VAT proposed by No 10
The suggestion to temporarily reduce the level from 20% is said to have come from the prime minister’s chief of staff Steve Barclay, but it’s understood the Treasury is “not buying it”
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NewsHeavitree performance on par with 2019
The Exeter-based pub company has returned to profit, after an “intensively difficult” trading environment during the pandemic
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NewsShepherd Neame sees strong like-for-like trading
The family brewer and pub operator said it had performed well with encouraging demand. Like-for-like sales in its pubs and hotels division were up 13% in the six weeks to 25 June 2022, but its central London pubs are yet to make a full recovery
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NewsBrewDog eyes blockchain
The craft beer company is working with digital finance platform Globecap on controversial options for investors to “tokenise” their equity
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NewsUK economy at risk of going into recession
Soaring inflation could tip the UK economy into a “mild recession” next year, according to KPMG, with GDP forecast to more than halve in 2022