Finance – Page 69
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NewsBank of England warns of ‘apocalyptic’ food price rises
Prices are rising at the fastest rate in 30 years, with a risk of double-digit inflation before the end of the year, Bank of England governer Andrew Bailey told MPs
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Analysis & InsightNumber of PE deals double in leisure space
UK-only businesses have been trading at a discount to their international peers, so have become particularly attractive to PE funds, global law firm Mayer Brown reports
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NewsGreggs achieves 27% lfl rise
The food to go retailer said sales in larger cities and office locations continued to lag behind the rest of the estate but that transport hubs had shown a marked increase in activity in recent weeks
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NewsWendy’s UK achieves ‘solid results’ in Q1
CFO Gunther Plosch reiterated plans to reach 50 to 60 restaurants in the UK by the end of this year, with the growth coming from a combination of company restaurants and delivery kitchens
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NewsSt Austell Brewery returns to profit
CEO Kevin Georgel said the business experienced “unprecedented levels of demand” following lockdown, achieving underlying operating profit of £11.3m for the 52 weeks to 1 January 2022
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Analysis & InsightDelivery fees could provide respite for Domino’s
The majority of franchisees are now charging fees ranging from 99p to £2.50 but it is unlikely to have a major impact on demand, analyst Berenberg believes
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NewsWingstop: ‘UK market is blueprint for success’
President and CEO Michael Skipworth has said its success in the UK was a “clear demonstration of the power of our international growth strategy”, with 15 UK openings slated for 2022
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NewsKFC UK & Ireland sees sales up 7%
Parent company Yum! Brands said sales within its KFC UK & Ireland division made up 8% of the global fast food chain’s overall revenue in the first quarter ended 31 March 2022
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NewsCreams CEO to step down as Pistachio Holdings increases share
The reshuffle in ownership structure will see Adam Mani take up the role of chief innovation officer, while Balal Aqil will become an advisor
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NewsWetherspoon faces ‘considerable pressure on costs’
The pub company reported like-for-like sales in Q3 were down 4%, though said sales were improving
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NewsGreene King returns to being cash generative
Group revenue at the pub company and brewer rose by 41.6% to £1.34bn for the 52 weeks to 2 January 2022, however it recorded an overall loss before tax of £113m for the period.
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NewsBillionaire Asda owners in talks to sell £13bn forecourt empire
Zuber and Mohsin Issa in discussions with Canada’s Couche-Tard about EG Group merger
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NewsStar Pubs to invest £42m in pub upgrades
The Heineken-owned pub company is to update more than a quarter of its estate in 2022, with 660 pubs to benefit from its annual capex investment programme
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NewsRising costs trigger record number of profit warnings
Hospitality is among the sectors to have suffered the biggest setbacks
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NewsLeonardo DiCaprio becomes investor in Neat Burger
The Hollywood actor joins the vegan burger chain, backed by Formula 1 champion Lewis Hamilton as an investor and ambassador, as it launches a $30m Series B fundraise
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NewsUK driving McDonald’s international growth
McDonald’s president and CEO Chris Kempczinski said the chain’s strong first quarter performance was underpinned by global comparable sales, up nearly 12%
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NewsNightcap continues growth trajectory
The Adventure Bar Group and Barrio operator reported strong trading in the third quarter of its 2022 financial year, alongside the signing of four new leases
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NewsF&B sales at Whitbread ‘slow to recover’
The Beefeater and Brewers Fayre operator hopes the rollout of new menus and targeted marketing initiatives will drive an improvement in sales
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NewsEaster sales slowdown for Pret
Sales in Pret’s West End sites were down 12% to 86% of pre-pandemic levels in the week to 21 April, with airport sales hit by fight cancellations, according to Bloomberg’s latest Pret Index
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NewsCity Pub targeting 65-70 pubs by end of 2023
Reporting its full year results for 2021, the group said its balance sheet was stronger than it had ever been and that it was well placed to take advantage of opportunities in the property market