Pubs, Bars & Clubs News – Page 73
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NewsBrasserie Bar Co. pub-focused strategy delivers strong results
Brasserie Bar Co. has credited its strategy of returning under-performing pub sites in affluent areas to their “former glory” as a primary for its strong FY19 results.
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NewsThorndycraft leaves Deltic
Jason Thorndycraft, chief operating officer of The Deltic Group, is leaving the role following a restructuring of Deltic’s management structure.
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NewsRevolution Bars enjoys a strong Christmas
Revolution Bars has released a trading update for the 26 weeks ended 28 December 2019, and for the Christmas period, encompassing the four weeks to NYE. For the those four weeks, up to and including New Year’s Eve, sales were up 4% on last year. Weekly sales per venue averaged over £65,000. Total sales for the 26 week period were £81.2m, up 3.4% on the previous year.
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NewsWadworth reports dip in profits but property revaluation delivers a £32m boost
A revaluation of its property portfolio has delivered a £32m boost to Wadworth after a challenging year which saw sales slip from £67.1m to £66.6m. Pre-tax profits were also down to £2.2m from £2.4m the previous year. However, given the challenging environment the business said it had been a “solid” year for the business, with operating profit up £462k on the year before.
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NewsUrban Pubs & Bars acquire Shoreditch site
Urban Pubs & Bars have added to its portfolio with a new site at 127 Shoreditch High Street.
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NewsFreehold pub prices hit record high
The average freehold pub price has grown 32% in the last year to a record £589,262, a Fleurets’ survey reveals.
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NewsThe City Pub Group to focus on regional ‘big beasts’ in 2020
The City Pub Group will look to regenerate larger regional sites and achieve greater consistency across its estate in 2020. The group is set to open three large regional sites in Exeter, Cambridge and Bath – and dispose of two smaller sites - as part of its strategy to maximise profitability by focussing on larger buildings this year.
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NewsEveryone’s welcome at Our Place
MCA talks to Brasserie Bar Co. chairman Mark Derry and CCO Richard Ferrier about their cautious, consistent and community-led business model.
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NewsCMA indicates approval of Stonegate Ei deal
The CMA has indicated it is satisfied that the disposal of 42 pubs will clear the way for the Stonegate and Ei Group deal to progress. In a statement this morning it said the disposals amounted to a “sufficiently clear-cut and effective resolution of the CMA’s competition concerns.” However, it ...
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NewsSandy’s Piano Bar secures London debut in Chelsea
Sandy’s Piano Bar has secured its debut London site in Chelsea.
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NewsBrasserie Bar Co to seek investment for pub estate expansion
Brasserie Bar Co. is hoping to encourage increased funding as it looks to selectively strengthen its pub estate.
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NewsThe Inn Collection Group expands in Cumbria
The Inn Collection Group has purchased the 15-bedroom The Pheasant Inn at Bassenthwaite Lake, Cumbria as an addition to its ‘pubs with rooms’ operation.
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NewsProper Pubs Ltd take on Star Pubs and Bars lease
Proper Pub Ltd operators Andrew Twigg and Mark Hynett have taken on the Star Pubs & Bars lease for The Swan, Whitacre Heath.
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NewsBrewDog opens alcohol-free beer bar
BrewDog is launching what it claims is the world’s first alcohol-free beer bar to coincide with Dry January.
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NewsIs the premium pub market ripe for additional consolidation?
I must admit I enjoyed a very decent lunch last Sunday. It was at The Parrot pub at Forest Green, just south of Leith Hill (the highest point in the South East for those uninitiated) with four of us spending the best part of £40 per head. Nothing necessarily remarkable in that you might say, though this was my second visit in four weeks (and it is by no means a local pub), and I should add this is now a pub within the Brunning & Price stable, following its acquisition in late 2018. This got me interested in looking at the performance (and impressive growth) of Brunning & Price in a bit more detail, but also, to more closely scrutinise the premium pub segment.
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NewsNew World Trading Company sees revenue rise
The New World Trading Company has seen a 15% rise in revenue for the year to 31 March 2019. The bar and restaurant operator’s turnover increase by £6.1m, reaching £51.8m compared to £45.1 in 2018, with adjusted EBITDA at £5.2m, the same as the year before.
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NewsArc Inspirations reveals jump in sales following year of investment
Arc Inspirations has reported a 16.7% jump in sales, from £23.3m to £27.2m, with like-for-like sales up 1.1%. Operating profit was down by 31% to £213k, and it returned pre-tax losses of £474k compared with a pre-tax profit of £183k last year. However, over the period the 17-site business invested £7.5m, including opening five sites and innovation.
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NewsOakman Inns & Restaurants reports like for like rise
Oakman Inns & Restaurants has said like for like sales were up 7.3% for the 15 month period ended June 2019. Sales for the period topped £46.7m with LfL sales up 7.3%. Site EBITDA was £8.6m with group EBITDA at £4.2m. “Overall we have maintained our corporate momentum despite an unhelpful environment with the uncertainty around Brexit impacting both consumer and investor confidence,” said Oakman CEO, Peter Borg-Neal.
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NewsPubs the most popular as spending rises
Consumers are spending £69.64 on average when they go out to eat, drink and party, up 3.9% on last year, according to the latest Deltic Night Index. They are also heading out more often, recording an average of 1.51 times per week, compared to 1.42 times last quarter and 1.19 times last year. Over half (50.3%) feel a “big night out” is a good way to celebrate and 42.3% plan to go out more often during the festive period than they usually would. Nearly half (47.8%) plan to spend more on these nights out than usual.
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NewsSales and profits up at Brunning & Price
Brunning & Price has said sales were up 11% to £80.5m for the year ending 30 December 2018. Pre-tax profits were also up to £13.8m, compared to £10.1m the previous year, before exceptional items. “Our business is well positioned in the market with a compelling, differentiated food-led offer that consistently outperforms the pub restaurant sector,” said the business.