Finance – Page 8
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NewsJDW reports like-for-likes up 5.1% in year to date
The pub company reported like-for-like sales growth of 6.1% over the three weeks to 5 January 2025, with chairman Tim Martin stating it was “confident of a reasonable outcome for the year”
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NewsKnoops appoints former Hotel Chocolat chair as non-exec director
The chocolate drinks brand, which achieved 22% like-for-like sales growth over the five-week Christmas period, has appointed Andrew Gerrie to its board
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NewsMarston’s reports ‘solid’ quarter
The pub operator reported like-for-like sales for the 16 weeks to 18 January 2025 up +2.0%, with poor weather conditions in November and January
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Analysis & InsightNICs changes to hit hospitality hardest
New analysis from UKHospitality has revealed that 774,000 workers in the hospitality sector will be newly eligible for employer national insurance contributions (NICs) starting in April 2024
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NewsUncertain future for itsu franchise stores
Itsu is pressing for “the best possible outcome” for staff caught up in the pre-pack administration sale of franchise group Heart with Smart
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NewsEsquires lines up six more coffee shops
Cooks Coffee Company hopes to have 100 stores operating by the end of 2025, up from its current 87
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NewsCaffè Nero reports 14% festive sales uplift
The coffee house achieved a 9% like-for-like sales increase in its UK estate, in the five weeks to 30 December 2024, versus 2023, with more than 40% of all transactions coming through its app
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NewsIndividual Restaurants ‘going from strength to strength’
The 32-strong restaurant group, which achieved record sales growth of +14% during December, has appointed Neve Rabbou as its new sales and marketing director as it looks to develop new brand propositions
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NewsRevised Loungers bid ‘substantially undervalues’ the company
Gresham House, which has a 3.9% stake in the cafe-bar group, is “still not inclined” to support the latest offer from Fortress, MD Ken Wotton tells MCA, while Downing’s Judith MacKenzie calls for a fair valuation that reflects the company’s future growth prospects
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NewsPizza Hut Restaurants acquired in pre-pack
The future of the pizza brand’s dine-in business has been secured after it was acquired by investment firm Directional Capital, with all but one of the franchise’s 142 sites expected to remain open
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NewsYoung’s trades ‘exceptionally well’ over Christmas
The premium pub operator reported managed like-for-like sales up 11.6% over for the five-week festive period
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NewsWhitbread F&B sales down 14% in Q3
The group said UK F&B sales were “in line with expectations” and reflected the impact of cost-cutting plans to close more than 200 restaurants
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NewsCarlsberg’s £3.3bn Britvic takeover approved by High Court
The Danish brewery plans to create a single integrated drinks business called Carlsberg Britvic following the takeover
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NewsLatest Loungers offer ‘not good enough’
Outspoken investor Judith MacKenzie, head of Downing Fund Managers, described the revised Fortress bid valuing Loungers at £354m as “paltry”
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NewsInflation rate dip not enough to calm hospitality’s fears
The unexpected dip in inflation, to 2.5% in December, is positive, but “there has not been enough movement” to quell concerns about the economy, UKHospitality has warned.
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NewsM&B reports strong festive like-for-likes
The pub and restaurant group saw like-for-likes up 10.4% over the core three-week Christmas trading period – a figure it said “built on numerous record sales performances through the estate”
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NewsFuller’s ‘maintains market outperformance’
The pub and hotel business reported “excellent trading” over the five-week Christmas and New Year period, delivering like-for-like growth of 10.2%, with +5.9% growth achieved in the year to date
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NewsFortress tables increased and final offer for Loungers
Fortress Investment Group (UK) has increased its cash offer for Loungers, from 310p to 325p per share, which has been deemed “fair and reasonable” and in the best interests of the business and its shareholders.
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NewsSix by Nico posts record results amid rapid expansion
The company invested £8.3m in expanding its portfolio, opening seven Six by Nico locations across the UK and Ireland in 2024, with a new site in Bristol slated to open next month
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NewsSushi Samba Group reverses losses in 2023
The global hospitality group reported strong trading, with turnover up by 12% in 2023, to £15.3m, and the company achieving a profit after tax of £384k, compared to a loss of £768k in 2022.