Finance – Page 82
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NewsBurger King UK cooks up £600m float
The UK arm of the fast food giant is said to be close to appointing advisers ahead of plans to float on the London Stock Exchange.
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NewsETM suffers ‘unprecedented challenges’ pushing up losses
ETM Group has reported turnover of £6.8m for the full year to 28 February 2021, down from £31.6m in the previous financial year.
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NewsBrighton Pier Group settles £5m business interruption claim
Full year earnings at Brighton Pier Group are expected to be £2m higher than market expectations on the back of the settlement
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NewsTortilla begins trading on AIM
Tortilla’s admission to AIM this morning comes alongside the completion of a fundraising which has raised gross proceeds of £5m for the company and £23m for selling shareholders.
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NewsGreggs sees huge growth opportunity from delivery
Greggs estimates it could achieve an additional £170m from delivery, as it targets £2.4bn turnover in the next five years.
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NewsRevolution reports same site sales growth of 17%
The Q1 trading performance was “well ahead” of the expectations, with controlled costs resulting in “good profit generation” from these sales.
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NewsPapa John’s expects to exit pandemic ‘stronger’
Papa John’s (GB) Limited achieved a 29.7% increase in turnover to £94.9m for the year to 27 December, as the pandemic had “minimal impact” on its business.
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NewsGreggs: Trading ahead of expectations, plans to double revenue in five years
Greggs Q3 results benefited from staycations as it aims to double turnover by 2026 and target a network of 3,000 sites.
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NewsCaffe Nero hires advisers and seeks to refinance £150m debt
Caffe Nero’s Gerry Ford is reported to have engaged Lazard to look at funding options for £150m of debt.
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NewsBrewDog ‘optimistic for a better 2021’
The bars division of the craft beer company posted a pre-tax loss of £10.4m from turnover of £25.2m in 2020
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NewsFive Guys to press on with UK rollout
The European holding company reported a total comprehensive loss of £58.4m for 2020
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NewsSunak plots extension to Covid loans scheme
The Recovery Loan Scheme offers businesses an 80pc guarantee on debt of between £25,000 and £10m.
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NewsD&D London to change hands in £100m takeover
Famous London restaurants including Quaglino’s and Coq d’Argent are close to being acquired by Montecito Equity Partners, a London-based private equity firm.
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NewsJW Lees returns to profit after restrictions relaxed
The family brewer and pub operator posted a £4.8m loss for the year, but it has become profitable again since restrictions were eased in the spring
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NewsOakman: ‘VAT rise is a risk taken too soon’
Hitting hospitality operators with an increase in VAT when they are still in the recovery period is “a risk that has probably been taken too soon”, according to Dermot King, chief executive, Oakman Group.
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NewsJD Wetherspoon ‘cautiously optimistic’ after year of lockdowns
The managed pub company reported a loss before tax of £154.7m, during a period when pubs were closed nationally for 19 weeks.
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NewsBenugo hails resilience despite losses
The café and restaurant operator said it was well positioned to regain its growth trajectory in 2021.
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NewsHigh Court dismisses case against Caffe Nero’s CVA
The challenge was brought by Ronald Young, a Nero landlord who received financial support for his case from the Issa brothers.
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NewsTortilla to have £70m initial market capitalisation on AIM
Shares in Tortilla Mexican Grill plc will begin trading on 8 October with a £70m market capitalisation. On admission, Quilvest will own approximately 20.4% and the board approximately 12.3% of the issued ordinary shares.
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NewsSSP sees improvement in revenues in Q4
SSP Group expects to achieve revenues of around 47% of 2019 levels in the fourth quarter, ending 30 September 2021, as passenger numbers continue to rise.