Finance – Page 97
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NewsBritvic drives at-home sales
Britvic has reported adjusted revenues were down 5.8% to £328.1m in the three months to December 2020.
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Analysis & InsightHospitality sales down 54% in 2020
Hospitality lost out on over half of its expected sales in 2020, with back-to-back lockdowns and ever-increasing restrictions costing the sector approximately £200m a day.
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NewsMyers and Ramsay acquire Red Mist Leisure under new pub vehicle
Former Busaba CEO Jason Myers and sector investor David Ramsay have formed a new pub investment vehicle, Red Lion Holdings.
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NewsSunak says more support to be revealed in Budget
Chancellor Rishi Sunak has said that extra economic support is on the way but warned that the economy will get worse before it gets better.
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NewsTim Martin nets additional £50m in further share sale
JD Wetherspoon chairman Tim Martin has sold 4.37m of the Company’s ordinary shares, at a price of £11.50, netting him £50m, but reducing his holding in the company to 21.88%.
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NewsCity Pub Group ‘well positioned to emerge strongly’
The City Pub Group has secured a further £5m in liquidity through the Government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS) as it sees sales plummet 57% year-on-year.
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NewsA.G. Barr revenues hit by hospitality lockdown
Soft drinks supplier A G Barr is expected to see revenues of £227m for the financial year 20/21, though sales have been disrupted by the closure of hospitality.
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NewsDishoom secures £8m in loans
Dishoom secured a £5m loan from the Coronavirus Large Business Interruption (CLBIL) scheme, as well as a £3m loan from shareholders, to help is get through lockdown, documents filed at Companies House reveal.
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NewsSarah Willingham on the ‘once in a lifetime opportunity’ for the bar sector
Nightcap CEO Sarah Willingham has said she hopes her newly listed late-night group will come the go-to fund for distressed but sound businesses needing to restructure.
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NewsPub veterans seek backing for revival
The former bosses of Revolution Bar Group and Liberation Group, Mark McQuater and Mark Crowther, are both seeking backing for pub deals, The Times reports.
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NewsShareholders inject £13m into Yo!
The parent company of Yo! secured £13m in shareholder funding in September 2020 to repay bank debt.
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NewsAnalysts’ verdict – JDW share placing
JD Wetherspoon’s £93.7m share placement should provide a buffer against the impact of low sales upon reopening, as well as enable it to invest in new sites, as and when opportunities arise. We round-up the thoughts of analysts from Liberum, Peel Hunt and Hargreaves Lansdown on the pub operator’s latest move.
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NewsFurlough extension under consideration
Chancellor Rishi Sunak could be considering a further furlough extension in the upcoming budget, the Telegraph reports.
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NewsTen Entertainment sales down 55% in 2020
Ten Entertainment Group, the 46-strong family entertainment company, has reported a 56.9% loss in sales for the 52 weeks to the end of December 2020.
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NewsHawthorn ‘remains bullish’ in Q3 investments
Hawthorn, the NewRiver-owned community pub company, more than doubled its planned CAPEX spend for the third quarter, and added an extra 61 sites to its investment programme.
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NewsWetherspoon raises £93.7m in new equity
J D Wetherspoon has raised £93.7m investment following a share placing, which it help with low sales upon reopening, and acquisitions in London.
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NewsBurger King drives through recovery
Burger King UK has “recovered significantly” from the impact of coronavirus, due to its ability to trade through lockdowns, and drive through restaurants.
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NewsHop Vietnamese acquired by founder in accelerated sale
Hop Vietnamese has been acquired in an accelerated sales process to a new entity controlled by founder Paul Hopper.
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NewsRooney Anand raises £200m for pub investment vehicle
Former Greene King CEO Rooney Anand has raised £200m to invest in Britain’s pubs sector, Sky News reports.
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NewsSunak urged to act now on support extensions
The Government must announce extended support before the budget if struggling businesses are to survive, the CBI has warned.