Finance – Page 84
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NewsYoung’s appoints non-exec to board
Young’s has appointed Aisling Meany to its board as a non-executive director, with effect from 1 September 2021.
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NewsHeineken to invest £38m in Star Pubs estate
Heineken has announced it will be investing £38m in its Star Pubs & Bar estate in a new programme to benefit 700 venues in England and Wales by the end of this year.
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NewsRevenues more than double at Soho House owner
Soho House’s parent company, Membership Collective Group, has seen revenues more than double in the last quarter as it recovers from closure periods during the pandemic.
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NewsONS data points to a possible recovery plateau
Hospitality could be experiencing a slowing in the recovery of consumer activity, weekly data compiled by the ONS has suggested.
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NewsLeon achieves ‘pleasing performance’ in Q2
EG Group has said strong progress has been made on the integration of Leon into the group, with “a pleasing performance” seen in the second quarter of 2021.
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NewsShaftesbury sees strong recovery for hospitality outlets
Shaftesbury has said its hospitality and leisure occupiers have continued to enjoy a strong recovery in trading levels, as the West End makes a comeback.
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NewsBusaba expecting to be cash generative again this year
Busaba has said that it expects to return to being cash generative at an operational level this year following the easing of trading restrictions, despite challenges still remaining in the casual dining sector.
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NewsAdnams reports strong returning demand
Adnams has posted a loss of £3.1m for the six months to 30 June 2021, as it reports strong returning demand from customers in its East Anglia heartland. The brewery and pub operator reported a turnover of £20.5m, marginally less than the £20.6m it posted for the same period in ...
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NewsJust Eat rejects talk of merger
Just Eat Takeaway.com’s chief executive Jitse Groen has rejected calls for a merger but has admitted that the delivery business needs to do “quite a lot of work” on its communication with investors, it has been reported.
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NewsFulham Shore eyes 150 new sites
Fulham Shore has 12 sites in legal negotiations, with a further 150 locations identified as part of its medium term growth plans.
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NewsJust Eat grows orders by 76%
Just Eat processed 135m orders in the first six months of 2021, a growth rate of 76% compared with the same period last year.
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NewsInvestor interest stokes shares in delivery
Investor interest has been stoked in Just Eat Takeaway.com following the disclosure that a respected American hedge fund boss has acquired a $645m stake in the delivery company.
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NewsRedCat acquires Coaching Inn Group
RedCat Pub Company, the group led by former Greene King chief executive Rooney Anand, has acquired The Coaching Inn Group.
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NewsHospitality sector drives 40% of Q2 GDP growth
The reopening of indoor dining helped underpin UK GDP growth during Q2 2021. Analysis from UKHospitality shows the hospitality sector was responsible for 40% of total economic growth from Q1 to Q2 2021, with Kate Nicholls calling on the Government for business rate reform and a permanently lowered rate of VAT.
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NewsOutlook for Deliveroo dependent on post-pandemic demand
The pandemic has offered a structural growth opportunity for Deliveroo, but its longer-term outlook depends on how demand hold ups, and if the road to profitability becomes clearer, according to analyst Hargreaves Lansdown.
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OpinionThinking of expanding? It is a capital idea if you choose the right option
For the last 18 months, the key word in hospitality and leisure has been “survival”. But as we start to get back to some degree of normality, the sentiment has shifted to “opportunity”. We are seeing more and more activity in the sector, with operators now ready to take advantage of the possibilities the pandemic has created.
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NewsDeliveroo grows orders, narrows losses
Deliveroo’s losses narrowed to £104.8m as it continued to invest in growing the delivery company.
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Analysis & InsightThe growing appeal of IPOs
After a Covid-induced hiatus, there have been several IPO announcements this year, with companies such as TGI Fridays, Tortilla, Hawksmoor and Giggling Squid considering their options around going public. Meanwhile several more are believed to be weighing up a listing. How much of this is an opportunistic post-Covid trend? Does it represent a structural shift away from the private equity model? And what are the risks and rewards? Dominic Allport, insight editor, reports.
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NewsDomino’s reaches agreement on Swiss business
Domino’s Pizza Group has reached an agreement to sell its entire shareholding in Domino’s Pizza GmBH – its Swiss business – for a consideration of CHF 0.3m (approximately £0.2m).
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Analysis & InsightOverseas delivery trends are test case for future UK model
Changes to the delivery market in the US and Europe will make “a good test case” for what may happen in the UK, Douglas Jack, research analyst, travel & leisure at Peel Hunt, has suggested.