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All articles by Georgi Gyton – Page 6
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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.
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NewsC&C Group trading in line with expectations
Net revenues are expected be down 3%, reflecting growth at Matthew Clark & Bibendum and the performance of its core and premium brands, offset by the disposal of its NAB business in Ireland
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NewsLuke Johnson joins board at Revolution Bars Group
The bar group has confirmed the appoinment of serial investor Johnson as non-executive chairman, following the retirement of Keith Edelman.
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NewsHostmore abandons acquisition of TGI Fridays
Hostmore has abandoned its reverse takeover of the American TGI Fridays business, with TGI Fridays in the UK expected to continue its operations under new ownership.
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NewsGuy Meakin to leave Pret for Krispy Kreme
Krispy Kreme has appointed Pret’s UK shops and franchise director Guy Meakin as its new president for Krispy Kreme UK & Ireland.
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Analysis & InsightAutumn menus feature pumpkin spice and all things nice
Classic autumnal flavours, such as maple, cinnamon and pumpkin, make a return to menus, as MCA rounds-up the latest menu launches, featuring Pret, Greggs, Costa Coffee and more
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Analysis & InsightDeals and rewards key to maintain customer ‘loyalty’
Customer loyalty is a hard-fought battle, with 31% of consumers stating they are likely to switch to competitor brands when it comes to eating and drinking out, a new report from Zonal finds
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NewsVapiano appoints new director of development
Richard Downs joins the German-founded Italian restaurant group from his role as managing director at Dirty Bones.
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Analysis & InsightBranded restaurants forecast to see 4.3% turnover growth
Polarisation in the market persists, with premium brands such as Dishoom, Miller & Carter and The Ivy Collection continuing to thrive, Lumina Intelligence says
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Analysis & InsightBusiness confidence continues to wane
Hospitality leaders’ confidence in their own business’ future prospects has fallen again – down four percentage points to 49%, CGA by NIQ’s latest Business Confidence Survey has found.
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NewsAtis lines up eight further sites
London salad bar concept Atis has eight further site openings confirmed as it looks to build its presence in the capital, co-founder Eleanor Warder has told MCA.
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Analysis & InsightFreshly dressed: the vibrant new generation of salad pioneers
MCA explores the evolution and growth of the high street salad bar, and how the freshest players are capitalising on the trends for health and global flavours to create concepts with ambitious expansion plans
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NewsOpenings of the week
MCA rounds up the latest opening stories this week, featuring Chipotle, Wingstop, Kiss the Hippo and more
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NewsPrezzo is in ‘a much stronger place’
Prezzo is in “a much better financial position” following its restructure as well as the ongoing work being carried out to refresh its menu and restaurant estate, chair Jonathan Goldstein tells MCA
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InterviewsBill’s: ‘The brand needed to be more relevant’
MD Tom James tells MCA the restaurant brand took a “long hard look at ourselves” in the aftermath of the pandemic, with the senior management team compiling a list of nearly 300 actions points that needed addressing
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NewsHydes continues to ramp up annual turnover
The North West-based brewer and pub retailer achieved record turnover for the 2023/24 financial year of £39.3m – up £5.2m on the previous year.
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NewsBill’s sees EBITDA up 51% in 2024
The Richard Caring-owned restaurant group has been building on the record sales performance in delivered in 2023, with a 3.4% increase in like-for-like sales achieved in the first half of this year
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NewsBrakspear acquisitive despite hit to profitability
Underlying EBITDA declined from £11.2m, to £10.9m in 2023, but CEO Tom Davies is pleased with its performance and actively looking to acquire sites
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NewsPrezzo sees return to profitability
Profit after tax at the Cain Interational-basked chain was £5.5m for the year ended 31 December 2023, compared to a loss of £31.6m the prior year