Finance – Page 103
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NewsJust Eat tell shareholders to reject Prosus’ revised offer
Just Eat have recommended shareholders reject Prosus’ revised takeover offer, saying it still significantly undervalues the delivery marketplace company.
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NewsRola Wala enters administration
Rola Wala, the Indian wrap concept backed by team behind Barworks, has entered into administration, MCA understands.
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NewsDrake & Morgan drives profits in ‘good year of progress’
Drake & Morgan, the London-based bar and restaurant group, has announced adjusted pre-tax profits of £1.9m, up 31% year on year.
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NewsProsus raises offer in Just Eat battle
Prosus has raised its offer for Just Eat to 740p per share, valuing the business at $5.1bn.
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NewsTurtle Bay profits down by two thirds
Turtle Bay’s profits have been slashed by more than two thirds to £1.4m, its latest accounts show.
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NewsStonegate/EIG deal ‘could damage competition in 51 local areas’
Stonegate Pub Company’s proposed £3bn purchase of Ei Group does not raise UK-wide competition concerns but could damage competition in 51 local areas, the Competition and Markets Authority (CMA) has said.
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NewsGail’s Bakery pre-tax profit up 10% to £1.1m
Gail’s, the artisan bakery chain backed by Luke Johnson, has reported turnover up 18.4% to £47.6m in the year ending 28 February 2019.
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OpinionAnalysts’ verdict: Liberum and Peel Hunt on Loungers
Both Liberum and Peel Hunt have upwardly revised their full year estimates for Loungers, following the AIM-listed business’ positive interim statement yesterday (4 December).
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NewsSummer weather masked localised trading issues at Deltic
The Deltic Group saw a 4.7% hit to like-for-likes for the full year to 23 February 2019, in what it described as a “tough year for the company”.
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NewsLoungers like-for-likes up 5.4%
Loungers has achieved strong like-for-like sales growth of +5.4% during the 24 weeks to 6 October 2019, with the group on track to open 25 new sites per annum.
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NewsNewRiver acquires Bravo Inns for £17.9m
NewRiver, the real estate investment trust (REIT), has acquired community pub company Bravo Inns for £17.9m.
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NewsGoodbody and JP Morgan on Marston’s
Goodbody has said it retains its “cautious view” on Marston’s in terms of investment due to the fact it has endured an extended period of muted like-for-like growth, it said in a note following Marston’s preliminary full-year results update on Wednesday (27 November).
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NewsHop Vietnamese closes in on crowdfunding target
Hop Vietnamese has raised more than three quarters (81%) of its £750k crowdfunding target, with 19 days still left to go.
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OpinionAnalysts’ verdict: Berenberg on Mitchells & Butlers
Mitchells & Butlers shares are due a “pause for breath” believes analyst Berenberg.
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NewsMarston’s reports £20m loss amid debt reduction focus
Marston’s has swung to a £20m statutory loss of the full year to 28 September 2019, down from a £54.3m profit in 2018.
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NewsNando’s drives profits after central costs restructure
Nando’s UK business has reported revenues up 7.9% to £779.4m for the full year to 24 February 2019.
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NewsCorbin & King reports lfl growth of 2.5%
Corbin & King has reported a 2.5% increase in like-for-like sales for the period to 31 December 2018, with EBITDA up from £1.3m to £7.5m.
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NewsShaftesbury F&B tenants reporting turnover growth, on average
Shaftesbury has said its food, beverage and retail tenants are, on average, reporting growth in turnover, however, in common with business generally, cost pressures and staff shortages continued to present operational challenges.
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NewsAnalysts’ verdict: JP Morgan and Goodbody on Wagamama
Wagamama’s second quarter trading update may have revealed its lowest like-for-like growth rate since Q4 2016, but according to analysts at JP Morgan this is missing the point.
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OpinionAnalysts verdict: Berenberg on Domino’s
Despite improvement in its share price since its Q3 update last month, major challenges still remain for Domino’s Pizza, according to analysts Berenberg.