Finance – Page 229
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News
Ponti’s reports FY PBT loss; seeks equity
The Ponti Group reported a pre-tax loss of £1.7m in the year to 26 January 2014, against a pre-tax profit of £358,000 the year before
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OpinionHabit forming
As the UK economy continues to recover from the post-financial crisis recession, consumer confidence has picked up, supporting discretionary spending on leisure activities, including dining out, says Rupesh Patel of Grant Thornton UK LLP, which has published new report called Come Dine With Us. Alongside this cyclical trend, structural changes in consumers’ eating habits are also reshaping the bars, restaurants and casual dining industry and are driving sector transaction activity.
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WSTA honours George Osborne for duty cuts
The Wine & Spirits Trade Association (WSTA) has formally thanked Chancellor of the Exchequer George Osborne and chief secretary to the Treasury Danny Alexander for their support in abolishing the alcohol duty escalator in the 2014 Budget.
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News
C&C H1 EBITDA down 2.2%; reiterates Spirit bid rationale
C&C Group, the drinks firm behind Magners and Tennents, has reported a 2.2% decline in EBITDA to Eu81m (£63.9m) for the six months to 31 August
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NewsAnalyst corner: Brumby on Spirit bid(s) in 60 seconds
Mark Brumby at Langton Capital takes a quick look at the current state of bidding for Spirit Pub Company and the possible fall out”
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NewsJack: JDW to maintain momentum
Leading analyst Douglas Jack expects Q1 like-for-like sales at JD Wetherspoon to be up at least 5%, maintaining the momentum the company generated during the first seven weeks
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News
Scottish firms unite to create ‘hospitality legacy’
Scottish hospitality businesses have pledged to create job opportunities and help build a legacy for the sector.
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NewsRollo: Further income growth expected at ETI
Leading analyst Jamie Rollo at Morgan Stanley has said that he expects Enterprise Inns to report a fifth consecutive quarter of like-for-like net income growth
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News
BGF circles Comptoir Libanais
The Business Growth Fund (BGF) is believed to have re-entered talks to invest in Comptoir Libanais, the Lebanese fast-casual restaurant concept
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NewsBid activity drives M&C20 outperformance
Driven by bid activity, the M&C20 again outperformed the market this week, rising 4.2% to 1,197 points, against a 2.2% rise in the FTSE All-share to 997 points
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NewsAnalyst corner: Mark Brumby on the Spirit bid situation
Mark Brumby of Langton Capital looks at the bid situation surrounding Spirit Pub Company and says that a deal with Greene King now looks likely
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News
Batram: GK offer for Spirit no knock-out
Nick Batram at Peel Hunt says that his interpretation of events surrounding the approaches for Spirit Pub Company is that Greene King’s offer is reasonable but clearly no knock-out
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News
L&G purchases Piccadilly Gardens for £23m
Legal & General Property has acquired 19/31 Piccadilly Gardens in Manchester, which includes units let to Zizzi’s and Nando’s, for £23.1m
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Simmonds seeks funding for London restaurant
Chef Adam Simmonds is seeking to raise £1.1m through the Enterprise Investment Scheme (EIS) to open his first solo restaurant in central London
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Cozy Pubs close to deal with Marco Pierre White over Suffolk site
Cozy Pubs, the Essex-based pub operator, is thought to be close to taking on the lease of the Angel in Lavenham in Suffolk from Marco Pierre White.
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News
Grub Club raises more than £100k through Crowdcube
Grub Club, the service that hosts supper clubs and dining concepts at pop-up locations, has raised 41% of its £250,000 investment target, from 89 investors via Crowdcube
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News
Honest Burgers strengthens pipeline
Honest Burgers has received approaches from up to 15 investment firms, regarding funding its next stage of development
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News
C&C sets out rationale for Spirit approach
C&C Group, the drinks group behind Magners, has set out the rationale behind its approach for Spirit Pub Compan
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Singha Corporation to enter UK restaurant market
Singha Corporation plans to build a UK restaurant business after agreeing to acquire the four-strong Oriental Restaurant Group
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NewsSpirit rejects C&C approach
Spirit Pub Company has announced it has rejected an approach from C&C Group, the drinks group behind Magners