All Finance articles – Page 9
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NewsDomino’s ‘strong’ first half sales supported by VAT cut
Domino’s has delivered a “strong” performance for the first half of 2021, aided by reduced VAT, the Euros, an increase in orders and the chain’s own marketing activity. In the 26 weeks to 27 June 2021, UK and Ireland system sales grew 19.6% to £752.3m. Like-for-like system sales, excluding splits were up 19.3% (18.4% including splits). The chain warned that second half growth would be lower due to scheduled VAT increases.
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NewsKFC, Pizza Hut and Taco Bell see sales recover
Yum! Brands – owner of KFC, Pizza Hut and Taco Bell - has reported strong Q2 growth, with KFC UK’s system sales rising 248% compared with the previous year, when many of its stores were shut due to the pandemic.
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NewsMark Davies steps down as NewRiver CFO
Mark Davies is to step down from his position as NewRiver’s chief financial officer (CFO), and the company’s board, with immediate effect following the announcement earlier this week that NewRiver has reached an agreement to sell its pub business Hawthorn to Admiral Taverns.
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NewsVarious Eateries ‘primed for growth’
Various Eateries, the Hugh Osmond backed operator of the Coppa Club, has reported “very strong trading” since reopening, facilitated by large outdoor spaces.
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NewsHeartstone looking to build 30-strong estate
Heartstone Inns is looking to acquire additional managed houses, individually or in packages, in order to build its portfolio up to around 30 sites.
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NewsCBRE appointed to sell £21.6m collection of Marston’s pubs
Global real estate advisor CBRE has been appointed by Aviva Investors to sell a collection of pubs let to Marston’s, worth £21.6m.
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NewsHawthorn like-for-likes at 98% of 2019
Hawthorn, the community pub company, has reported like-for-like volumes in its leased and tenanted estate are at 98% compared to the same period in 2019.
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NewsJob adverts and spending both up for hospitality
There has been a sharp rise in the number of hospitality job adverts, with online ads pushed up by the reopening of pubs and restaurants last month, The Times has reported. On 7 May the number of job adverts for roles in hospitality had increased by 46 percentage points since ...
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NewsWelsh government confirms reopening and extra support
The Welsh government has confirmed that six people from up to six households will be able to meet in pubs and restaurants from 17 May.
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NewsReconsider rates cap, or systematic closure of pubs will continue
The government must reconsider the £2 million cap on business rates relief it is proposing to implement when the rates holiday comes to an end on 30 June, according to Colliers.
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NewsAsahi acquires Allpress Coffee
Asahi has acquired Allpress, the speciality coffee company with a presence in the UK, New Zealand Australia, Japan and Singapore.
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Analysis & InsightMixed reactions from analysts on Domino’s update
Domino’s like-for-like (lfl) sales and order growth in Q1 has been met with a mixed reaction from analysts.
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NewsHammerson: Footfall 80% of pre-pandemic
Landlord Hammerson has reported 90% of operators in its UK estate are currently able to trade, with footfall is “competitive with pre-pandemic levels”.
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NewsUpham keen to impress investors following turnaround plan
Upham Group has said it is a strong financial position following the take-up of support offered during the pandemic, including a £1.4m CBIL, and a restructure of its operations, and keen to impress its investors.
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NewsDeliveroo must prove itself to the market, says Shu
Deliveroo’s founder and chief executive Will Shu has said his message to shareholders and the wider investor community is “it is on me to prove the long-term value of this company”.
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NewsRosa’s Thai plans five to six per year
Trispan-backed Rosa’s Thai has said it expects to open five to six new sites each year, while also pursuing opportunities to operate delivery-only cloud kitchens as it continues with its expansion plans.
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NewsChop’d invests in tech
High street salad chain Chop’d has invested £110k in digital developments ahead of the reopening of its sites next Monday (12 April).
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NewsMarston’s looks to reopen 70% of estate next week
Marston’s has said it is planning to reopen 70% of its estate in England from 12 April, and subject to regulatory confirmation, the majority of our Scottish and Welsh pubs on 26 April.
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NewsAnglian anticipates ‘huge demand’
Anglian Country Inns is forecasting a “very good year” and hopes to be able to pay off its debts towards the end of this year, or early next, before returning to growth mode.
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NewsJust Eat: ‘This marks the beginning of our journey in the UK’
Just Eat’s investment in the UK market has arguably been paying off, with revenue up 42% last year, and for chief executive Jitse Groen, it is just the beginning.