Finance – Page 231
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News
Golfrate acquires 11-strong pub portfolio
Golfrate, the London-based property management company, has acquired an 11-strong package of pubs, the majority of which are owned by Punch Taverns, in a deal funded by a new £20m loan
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NewsYoung’s completes 580 Group deal
Young’s has completed the acquisition of 580 Limited, the operator of four pubs in prime London locations, for £10.4m
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NewsSpirit to sell Earls Court pub for c£15m
Spirit Pub Company is close to completing the sale of its Prince of Wales pub to Capital & Counties Properties PLC (Capco), in a deal valued at c£15m
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NewsFrench: Renewed opportunity for M&B and TRG merger
Leading analyst Simon French at Cenkos has said he sees renewed opportunity for a nil premium, all-share merger between TRG and M&B
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Jack: Sector blowing hot and cold
Leading analyst Douglas Jack has said that in his view the outlook for the sector is mixed
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NewsEllis: Whitbread on track for another good year
Leading analyst Wynn Ellis at Numis has said he believes that Whitbread remains on track for another good year
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NewsDiageo in line with expectations
Diageo has reported that its performance in the three months to 30 September 2014 was in line with expectations
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Scottish hospitality companies pledge jobs for 16-24 year olds
Representatives from more than 75 Scottish hospitality and tourism businesses are meeting to pledge job opportunities, apprenticeships and work placements for 16 – 24 year olds
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Caffe Nero FY lfls up 2.7%
Caffé Nero has reported rise of 8.8% in revenue to £222.4m with like-for-like sales up 2.7% for the year ending 31 May 2014, as it eyes a UK estate of 750
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Booker H1 lfls up 2.4%
Booker saw total sales for the 24 weeks to 12 September climb 1.9% to £2.3bn, while like-for-like sales (excluding Makro) increased 2.4%
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Whitbread extends bank facilities
Whitbread has extended the maturity of its bank facilities until November 2019
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NewsYoung’s in talks to acquire 580 Group
Young’s is believed to be in advanced talks to acquire the 580 Group, the four-strong, London-based pub operator, in a deal valued at c£11m
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Analyst Corner: Mark Brumby - Pub Costs in 60 Seconds
Mark Brumby at Langton Capital says that excluding the national minimum wage (rising at 3%), the cost environment is better than it has been for years
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NewsTown & Country in £6.9m sale & leaseback deal
Town & Country Inns has sold a trio of leisure investments in the West Midlands to Kames Capital for £6.9m
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Responsibility Deal should be tuned into law
The Government’s Responsibility Deal should be turned into law and licensing should be introduced for fast food outlets
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NPR in H1 up 11% for SABMiller in the UK
SABMiller has reported an 11% rise in net producer revenue (NPR) in the UK in the six months to 30 September 2014
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News
Harwood: Transformational programme at Essenden a success
A leading analyst has said that the strong progress made by Essenden in the current year demonstrates the success of the group’s transformation programme
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NewsAnalyst corner: Jamie Rollo on JDW
Jamie Rollo at Morgan Stanley says he expects Q1 like for like sales growth of c. 5-6% for JD Wetherspoon, in-line with the first six weeks of the quarter.
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NewsKFC UK Q3 sales up 9%
KFC UK & Ireland experienced a 9% increase in sales in the three months to 6 September, while sales climbed 11% in the year to the same date
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Analysis & InsightM&A market back with a boom
Two potential deals are keeping City gossip hot at the moment, but they are very different types of bid. One company is categorically saying no to an offer while silence rules the other tender, Dominic Walsh tells all