Finance – Page 7
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Weekend PressDiageo looks for a new lease of life as sales go flat
As half-year results loom, the drinks giant’s shares are at a five-year low. Can new leadership and cost-cutting measures revive fortunes? The Times reports
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NewsLoungers takeover deal voted through
The all-day operator has reached agreement with Fortress on an increased and final offer valuing Loungers at £354.4m, with 93.5% of shareholders voting in favour
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NewsMission Mars revenue jumps 43%
The operator of Albert’s Schloss and Rudy’s Pizza Napoletana achieved total revenue of £31.6m in the three-month period ended 29 December, accompanied by strong festive trading
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NewsLane7 records 26% revenue uplift
The experiential operator reached £42m turnover in FY24, with four UK sites and further international expansion planned for 2025
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NewsUKHospitality calls for growth plan to ignite foundation economy
UKHospitality is urging the Chancellor, Rachel Reeves, to fast-track a growth plan for hospitality and other key sectors that can deliver rapid economic recovery and community investment
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NewsHeart with Smart acquired for £10m
The decision to sell to private equity firm Directional Capital was primarily based on overall value and return to the creditors as a whole, according to Interpath
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NewsButcombe sees strong Christmas and London trade
Christmas like-for-like sales were up 23%, while London pubs were saw 27% growth in the second half of the year
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NewsSSP Group sees UK sales up 9%
Positive trading momentum continued into the first quarter of the financial year, buoyed by strong air passenger numbers in the UK as well as less industrial action
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NewsVagabond toasts bumper Christmas
The wine bar group reported a 16.3% surge in like-for-like sales in the six weeks to 23 December, with plans for further investment and expansion
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NewsHotel Chocolat’s cafés boost growth
The premium chocolatier’s Velvetiser Café format recorded a 33% year-on-year sales increase
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NewsUrban Pubs & Bars reports record EBITDA
The 53-strong pub and dining group reported a 26% increase in EBITDA, to £8.7m, for the year to 28 April 2024, versus the previous year, with further growth to be supported by new £30m banking facilities.
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NewsTasty reports challenging trading amid restructuring efforts
The operator of Wildwood and dim.t reported a difficult second half of 2024 as the group grappled with declining consumer confidence, reduced spending, inflation and rising labour expenses
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NewsCrêpeaffaire acquired for £149k in pre-pack deal
Directors Daniel Spinath and Allen Kerslake acquired seven UK sites as part of the deal, in Brighton, Bromley, Cambridge, Islington, Leeds, Newcastle and St Albans
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NewsStonegate’s managed pubs achieve strong festive like-for-likes
The company achieved like-for-like sales growth of 9.7% in its managed estate over the Christmas period, with its bars and venues seeing a 4.1% increase
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NewsDrake & Morgan outperforms market over Christmas
The group reported 14.7% like-for-like sales growth over the five-week festive period
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NewsWogans determined to rescue Homeslice
Mark and Alan Wogan are working on a new structure for their pizza restaurant concept, which has entered into liquidation with debts of £2.5m
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NewsShepherd Neame launches share buyback programme
The regional pub company is buying up and cancelling its ordinary shares up to a maximum of £0.5m in order to boost the earnings and value of its shares
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NewsCabana secures future with management buy-out
Ed Standring has completed a management buy-out of the Latin American-inspired bar and grill, via a new investment platform, Cherry Equity Partners, which is backed by an international family office
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Analysis & InsightAnalysts give mixed reviews of JDW performance
Described as “solid” and “robust” by some analysts but “lacklustre” by others, JD Wetherspoon’s recent trading performance has attracted differing opinions on its success
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NewsRevel Collective reports slim uptick in like-for-likes
Late night sector “continues to be challenging” for the Revolution bar operator, but there were standout performances from Peach Pubs and Founders & Co.