Finance – Page 195
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NewsJDW Q1 lfls up 2.4%
JD Wetherspoon has this morning reported a 2.4% rise in like-for-like sales for the 13 weeks to 25 October 2015, with total sales up 6.1%
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NewsDavies: Pinto deal transformational for Barburrito
Morgan Davies, chief executive of Barburrito, has told M&C that the group’s acquisition of Pinto Mexican Kitchen is a “transformational” deal
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NewsChilango hits £1m in first week
Mexican restaurant Chilango has surpassed its £1m fundraising target in its first week on CrowdCube
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NewsFulham Shore agrees Bukowski franchise agreement
Fulham Shore has entered into a franchise agreement with Bukowski Grill, the London-based charcoal-grill restaurant and bar concept
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NewsBarburrito acquires Pinto Mexican Kitchen
Barburrito has agreed to acquire Pinto Mexican Kitchen, its five-strong, Scotland-based rival
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NewsKornicis sold for c£10m
Kornicis Group, the London-based bar and restaurant operator, has been acquired in a deal thought to be valued at c£10m.
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NewsGK overtakes M&B on market cap
Greene King has replaced Mitchells & Butlers as the UK pub and restaurant company with the largest market cap after its acquisition of Spirit Pub Company.
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Analyst corner: Rollo on M&B
Leading analyst Jamie Rollo, of Morgan Stanley, says he expects new Mitchells & Butlers chief executive to update the market on the company’s mitigation of the pressures of the National Living Wage next month.
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NewsLondon Union launches £3.5m crowdfunding campaign
London Union, the parent company of Street Feast, has launched a crowdfunding bid to raise £3.5m to build a world class street food market in London by 2017
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NewsPonti's trims estate to reduce losses
The Ponti Group, operator of Ponti’s Italian Kitchen and Caffe Italia, has confirmed it has reduced its operating losses following estate consolidation and refurbishing its sites
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NewsLeon secures £11.5m funding for growth
Healthy fast-food concept Leon has secured a funding package worth £11.5m from new banking partner, HSBC.
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BK and Tim Horton parent co returns to profit
Burger King and Tim Horton’s parent company, Restaurant Brands International, has reported net income of $182.9m in the third quarter, after a loss of $23.5m for the same period last year
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C&C sees H1 profit fall, monitors acquisition targets
Magners producer C&C Group has reported operating profit down 9.5% in the six months to 31 August, reflecting a ‘challenging period in core markets’.
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SABMiller requests more time for talks with ABInBev
The board of SABMiller has asked for an extension to the deadline for talks over ABInBev’s proposed £68bn takeover of the brewer.
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Heineken beer volumes up 5.4% in Q3
Heineken has reported consolidated beer volume up 5.4% in Q3 with volume growth in the UK in ‘mid-single digits’, driven by the off-trade.
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NewsElectra reports asset value up £308m in 2015
Private equity group Electra Partners has said the valuation of TGI Fridays has increased by 17% and Original Bowling Company by 103% since its investments in the companies.
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NewsPho on track to post FY turnover of c£20m
Pho, the Vietnamese restaurant group, is on track to post turnover of c£20m in its current financial year
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NewsFamous Brands UK performance “satisfactory”
Famous Brands has said that its UK operation, which includes its 90-strong Wimpy estate, delivered a “satisfactory” performance in the six months to the end of August
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Draco Pub Co secures £4m funding
Rob Greacen, managing director of Draco Pub Co, has told M&C the company’s £4m refinancing deal will allow it to ramp up its expansion plans – with a deal close on its fourth site.
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Rollo: Expect strong trading for Enterprise Q4
Leading analyst Jamie Rollo, of Morgan Stanley, has said he expects Q4 trading for Enterprise Inns to have been ‘solid’ but has warned that its strategic plan will lead to significant overheads.