Finance – Page 78
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Analysis & InsightFuller’s has good opportunity for M&A
Fuller Smith & Turner could dispose of its tenanted inns division and use the funds to acquire City Pub Group, a note from Panmure Gordon has suggested
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NewsFulham Shore achieves profit of £2.4m
The Franco Manca and Real Greek operator currently has 21 sites in legals, with chairman David Page saying the business was performing ahead of expectations
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NewsPho business proves ‘resilient’
The Vietnamese-inspired concept said the success of its off-site dining channels allowed it to emerge from lockdowns in a strong financial position
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NewsShu sells Deliveroo shares to foot tax bill
Deliveroo’s co-founder and chief executive Will Shu has sold £47m of shares in the delivery company in order to meet his tax liabilities.
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NewsFlight Club: ‘We have bounced back very strongly’
Flight Club Darts has seen “a significant and sustained” increase in trading since 19 July and has a strong pipeline of sites for 2022.
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NewsSticks’n’Sushi revenues hit a record £57m
UK sales at the Danish chain surpassed those of its home market for the first time in 2020/21
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NewsEG Group delivers uplift in foodservice profit
The Issa brothers-led business, which acquired Leon in April this year, said that its foodservice operations showed “significant strength”, with gross profit up 36% on a like-for-like basis
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NewsLoungers sees lfls up +23% since May reopening
Revenue has almost doubled in the 24 weeks to 3 October 2021, to £102.4m, compared to 2020 figures, with Loungers continuing to outperform the market.
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NewsPunch explores £1bn sale
Fortress Investment Group, the US-based investor owned by SoftBank, is reported to be in talks to buy Punch Pubs & Co
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NewsGail’s sees turnover drop, but expansion continues
Gail’s saw turnover decline from £61m in 2020 to £57m for the 52 weeks to 28 February 2021, despite opening five new retail bakeries over the course of the year.
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NewsArc Inspirations sees sales up +40%
Bar group Arc Inspirations has achieved a total sales increase of 42% since restrictions were lifted on 19 July, compared to the same period in 2019.
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NewsShake Shack UK operator posts loss of £7.5m
The accounts for 2020 also reveal that Diverse Dining was acquired by a company owned by Middle East-based franchise group Alshaya at the end of 2020
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NewsTRG likely to drop out of FTSE 250
The Restaurant Group is still struggling to regain its pre-pandemic form, according to analyst Hargreaves Lansdown
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NewsNando’s see losses more than double
Nando’s has reported a 39% drop in sales due to trading restrictions with pre-tax losses more than doubling to £240m and trading still mixed.
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NewsM&B returns to profit
Mitchells & Butlers has seen a return to profit and cash generation following the lifting of restrictions in July, despite a like-for-like sales decline of 9.6% in the full year to 25 September 2021.
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Analysis & InsightClear strategy expected from new Marston’s CEO
Marston’s full year results should address three core elements in order to improve shareholder value, believes analyst Peel Hunt.
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NewsNightcap acquires Barrio Familia for £4.9m
The acquisition comprises four tequila-led cocktail bars trading under the Barrio brand, and high-end Soho cocktail bar Disrepute
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NewsCorbin & King heads for High Court in insurance face-off
The Wolseley operator is in a £4.5m dispute with Axa over a business interruption claim
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InterviewsMW Eat has ‘borrowed heavily’ to fill cash flow gap
The chairman of the Chutney Mary and Masala Zone owner said the business has lost more cash in the last year than it has made in the last five
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NewsSoho House sees strongest recovery in UK
Membership Collective Group, owner of Soho House, is expected to open a club in Brighton in the first quarter of 2022.