Pubs, Bars & Clubs News – Page 75
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NewsPhil Urban: ‘Greene King deal vindication of why shareholders invested in us’
Mitchells & Butlers (M&B) will inevitably be touted as a potential target for M&A, but chief executive Phil Urban doesn’t see a takeover happening, he has told MCA.
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NewsNew River reports “robust” performance
New River has reported a rise in Underlying Funds From Operations from £25.6m to £26.4m for the first half of the year. “We are pleased to report another period of solid performance, as we entered our 10th year of operations,” said CEO Allan Lockhart. “Our diversified and differentiated portfolio continued to outperform the market, delivering sustainable cash flows, robust operational metrics and resilient valuations.
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NewsFuller’s to open at Wembley Park
Fuller’s set to open a 8,200 sq ft pub and restaurant on £3bn Wembley Park development.
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News‘Businesses as usual’ at EIG ahead of Stonegate takeover
Ei Group has announced underlying EBITDA down 3.8% to £276m, following the disposal of 354 commercial property assets for £340.6m.
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NewsStonegate to provide mental health training for staff
Stonegate Pub Company has teamed up with the Licensed Trade Charity in order to provide mental health training for more than 1,000 of its employees.
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NewsMunich Cricket Club secure West India Quay site
Bavarian beer hall concept Munich Cricket Club has secured its second London location, at West India Quay.
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NewsYoung’s to accelerate Redcomb investment
Young’s investment in Recomb Pubs will be sped up and completed by April 2020, CEO Patrick Dardis has told MCA.
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NewsFuller’s warns over beer co transition costs
Fuller’s has warned that the transition costs of selling its beer business to Asahi have been “materially higher” than expected and will have a short-term impact on the group’s financial performance.
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NewsH1 was ‘game of two halves’ for Young’s
Young’s & Co has reported a total revenue increase of 7.3% for the 26 weeks to 30 September 2019, in a period it described as a ‘game of two halves’.
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NewsThwaites achieves strong first half performance
Thwaites has achieved a 7% increase in turnover, from £49.9m to £53.4m, for the six months to 30 September 2019.
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NewsWetherspoon sales up 5.6%
Wetherspoons has reported a sales uplift for the 13 weeks to 27 October 2019. Like-for-like sales increased by 5.3% and total sales by 5.6%. Wetherspoons has opened one new pub since the start of the financial year and has disposed of four.
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NewsCamerons Brewery acquire Bar Soba group
Camerons Brewery has announced the acquisition of the Bar Soba group in a deal that will see the brewer and pub operator grow its retail managed estate to 34 sites.
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NewsBBPA publishes new accessibility guidance
BBPA has published new guidance to help licensees make their venues as welcoming as possible for those with access needs.
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NewsBrakspear boosts managed pub estate
Brakspear has acquired the Golden Ball pub near Maidenhead, taking its total managed estate to 15 sites.
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NewsRugby World Cup failed to boost bar sales
Pubs and restaurants saw like-for-like (lfl) sales decline in October, with the Rugby World Cup failing to boost bar sales, according to the Coffer Peach Business Tracker.
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NewsMcMullen sees overall growth of 7% in latest financial year
McMullen & Sons has achieved total revenue growth of around 7.5% for the financial year ended September 2019, MCA can reveal.
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NewsSheldon Inns extends portfolio with Ei Publican Partnerships
Sheldon Inns has re-opened recently acquired pub The Chequers Inn, in Fladbury, following a joint investment of £180k with Ei Publican Partnerships.
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NewsTough times as spending shifts to the weekend
I was struck by a couple of recent comments from Mark Derry, the chief executive and chairman of Brasserie Bar Co., when he said that while spend was holding up, the business had noticed a definite shift in visits towards the weekend, as the early week visits are the first to go when times are tough. This prompted me to have a look at MCA’s Eating Out Panel (EOP) data on daily spending behaviour trends and see what insights were apparent.
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NewsInn Collection confirms £6m Sunderland pub with rooms
The Inn Collection Group has confirmed its next site, a 40-bedroom pub on Sunderland seafront.
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NewsMarston’s confirms deal with Admiral on pub disposals
Marston’s has announced that it has reached an agreement for the disposal of 137 of its pubs to Admiral Taverns, for £44.9m.