Finance – Page 236
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NewsRed's eyes 20 within three years
Red’s True Barbecue, the fast-growing smokehouse concept, plans to open four sites in 2015 and 20 within three years, the Daily Telegraph reports
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Analysts upgrade Greggs
Two leading analysts have upgraded their expectations for Greggs following upbeat interim management statement for the third quarter from the high street bakery group
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Chapel Down secures more land for growing grapes
Chapel Down Group, the Kent-based winemaker and brewer, has secured the lease on a 145-acre piece of land, the first of four planned land purchases following its successful fundraising scheme
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NewsSABMiller 'now in play'
SABMiller could now be considered “in play”, with ABInBev a potential buyer, after it was knocked back in its attempt to buy Heineken, a leading analyst has argued
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NewsHeineken: sale to SABMiller is “non-actionable”
Heineken has dismissed the prospect of being acquired by SABMiller, describing the latter’s takeover proposal as “non-actionable”.
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Chapel Down raises further £440k
Chapel Down, the Kent-based winemaker and brewer has raised an additional £440,000 through a new share placing, to go alongside its crowdfunding scheme, taking the total sum raised to £2.4m
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NewsGreggs FY profits 'to exceed expectations' as lfls rise
Greggs, the bakery chain headed by Roger Whiteside, has reported a significant improvement in recent trading with like-for-like sales up 5.4% for the 11 weeks to 13 September, and said it expects full-year profits to be “materially ahead of our previous expectation”.
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NewsPing Pong FY lfls grow 3.9%; losses widen
Ping Pong, the London-based dim sum chain, saw like-for-like sales rise 3.9% in the year to 30 March 2014 although pre-tax losses widened from £295,606 to £1.5m
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NewsScottish independence fears hit M&C20
The threat of Scottish independence rattled the markets this week as the FTSE All Share fell 0.8% (down some 9 points to 1,057) and the M&C20 suffered a fall of 1.7% (down 21 points to 1,198). Friday has seen the UK markets recover somewhat as fears of a ‘Yes’ vote subside as more poll data is released
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NewsRollo raises Whitbread EPS forecast
Leading analyst Jamie Rollo has increased his earnings per share (EPS) forecast for Whitbread by 1-2% following “another strong trading update” on Tuesday
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NewsImbiba launches Brooklyn inspired bar group
Imbiba Partnership, the investment company behind Drake & Morgan and Hamilton & Bond, is launching a new concept called Ruth & Robinson to roll out seven bars inspired by Brooklyn, New York, M&C Report has learnt
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NewsAnalyst corner - Sahill Shan on Greene King
Sahill Shan of N1 Singer upgrades Greene King from Sell to Hold, saying he does not believe that its “disappointing” AGM update this week is a “fundamental setback” for the brewer and pub operator
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NewsPeach secures further funding from Molson Coors
Peach Pub Company, the Midlands-based multiple operator, has secured a further £500,000 in funding from brewer Molson Coors to expand its operations, M&C Report has learnt
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Chapel Down exceeds fundraising target
Chapel Down, the Kent-based wine maker and brewer chaired by former Scottish & Newcastle chief executive John Dunsmore, has exceeded its £1.67m fundraising target just four days after launching it via the Seedrs crowdfunding platform
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NewsJDW FY PBT grows 3.1%, operating margins dip
JD Wetherspoon has reported a 5.5% rise in like-for-like sales in the year to 27 July, with profit before tax and exceptionals up +3.1% to £79.4m, although pre-exceptional operating margin declined
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Analysts upbeat on Prezzo
Two leading analysts have given an upbeat assessment of Prezzo following the company’s H1 results yesterday
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NewsPrezzo reports 'strong' H1
Prezzo, the restaurant group headed by Jonathan Kaye, has reported a “strong” start to the year with a 17% rise in adjusted EBITDA to £14.6m in the 26 weeks to 29 June, and said it expects to have opened 25 new restaurants by its year end
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Jack moves Greene King from Buy to Add
Leading analyst Douglas Jack has downgraded his recommendation for Greene King from Buy to Add and cut forecasts by 3% as the brewer reduces its reliance on tenanted pubs in what Jack called a year of “limited growth”
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NewsGaucho lines up Far East opening
Gaucho Holdings will open its first Asian outpost in the heart of Hong Kong in mid-October
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NewsMcDonald's: UK 'positive' amid global decline
McDonald’s says a “positive” performance in the UK helped to offset weakness in Russia, as comparable sales across Europe fell 0.7% in August