All articles by Georgi Gyton – Page 24
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NewsFarmer J looking to accelerate expansion next year
The business is looking to capitalise on the +20% like-for-like growth it has achieved so far this year, with six to eight London openings planned in 2025, founder Jonathan Recanati tells MCA
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NewsFoodservice inflation continues to see year-on-year decline
Inflation stood at 2.8% in August, according to the latest Foodservice Price Index from Prestige Purchasing and CGA by NIQ, although certain categories are still seeing stubbornly high inflation
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NewsSt Austell enters low-alcohol beer market
The brewery and pub operator will launch Proper Job 0.5% – its first new category launch since entering the lager market in 2010 – in a bid to capitalise on the growing trend for low- and no-alcohol drinks
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NewsNon-exec steps down at Cooks Coffee
Paul Elliot has stepped down as non-executive director, with immediate effect, with Gordon Robinson, UK based independent director, assuming Elliot’s previous role of chair of the audit committee.
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NewsIncipio Group achieved record sales in 2023
The London-based bar group saw a 32% improvement in sales performance, with revenue of £25.9m for the full year to 31 December and record adjusted EBITDA of £2.5m.
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NewsTasty improves profitability despite revenue drop
The operator of Wildwood and Dim T restaurants achieved revenue of £19.1m for the half year to 30 June 2024 – a decline of 12%, however operating profit improved over the period, from a loss in 2023.
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NewsLeon achieves strong lfls but losses widen
The Asda-owned brand achieved like-for-like sales growth of 17.5% at its company-owned sites, during the 52 weeks to 31 December 2023, however operating loss was £12.6m for the period.
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Analysis & InsightAlcohol moderation on the up as young people prioritise health
The number of consumers drinking zero-alcohol or low-alcohol drinks has increased by 6% since last year, according to Drinkaware’s 2024 Monitor, with one in four 18-24-year-olds teetotal.
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NewsMeatLiquor acquires Covent Garden site
Meatailer Ltd has acquired the lease of former Asian fusion restaurant Circus, in Covent Garden, marking a return to the area for the burger restaurant business.
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InterviewsTortilla slowing down UK expansion to focus on profitability
CEO Andy Naylor tells MCA that while Tortilla will continue growing in the UK through its franchise partners, it has no current plans for new company-owned restaurants
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NewsRumours of restrictions to licensing hours quashed
Warnings that the government is considering “tightening up the hours of operation” for pubs and bars have been described as “categorically untrue” by the Department for Health and Social Care
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NewsDishoom sees significant growth in underlying EBITDA
The Indian restaurant group reported a 41.9% rise in adjusted underlying EBITDA for the full year ended 31 December 2023, to £13.3m, in what was a strong period of growth for the business.
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NewsGiggling Squid sees strong like-for-likes in 2024
The Thai restaurant group reported a 12% increase in like-for-like site EBITDA for the full year to 31 March 2024, with revenue up 4.3% for the year.
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NewsRedCat Pub Company to invest £8m in pub and inn estate
The cap ex programme will be rolled out over the next six to 12 months, with 18 pubs and six coaching inns due to benefit from investment in areas including team training and the venue’s offer
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NewsRegulatory landscape threatens future of British pub
Think-tank Localis is urging the government to launch a taskforce to clear obstacles that endanger the beer and pub sector, with its new report to be issued at the Labour Party Conference today
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NewsChipotle focusing growth on greater London
The fast-casual Mexican brand opened its 20th UK restaurant this month and has increased its UK footprint by nearly 82% over the past 18 months, Jacob Sumner, director, European operations at Chipotle tells MCA
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InterviewsInception Group: ‘We have plans to expand Cahoots network’
Co-founder Charlie Gilkes talks to MCA about the scalability of the concept, the development of Mr Fogg’s taverns, and why he believes corporates are back in a big way
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NewsChopstix to make European debut
The QSR operator is to open a Chozen Noodle unit on the ground floor of the food court at Romania’s Bucharest Henri Coandă International Airport later this month.
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NewsComptoir delivers strong revenue growth
The operator of Comptoir Libanais and Shawa achieved a 7.4% increase in group revenue for the six months ended 30 June 2024, to £15.9m, but saw an overall loss before tax for the year of £2.2m.
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NewsPret shareholders raise £250m of new capital
News of the raise, which will serve to reduce certain banking facilities and improve liquidity, comes as Pret reports strong sales growth of 10% for the six months to 30 June 2024, driven by global expansion.