Finance – Page 239
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NewsSpirit to 'lose trading momentum' in Q4
Trading momentum for Spirit Pub Company could “lose pace” in the fourth quarter of 2014, although full-year like-for-like sales growth should be “upbeat”, according to a leading analyst
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NewsTesco to reduce capex
Tesco has announced that capital expenditure for its current financial year is to be lower than initially planned, with a total spend expected to be £2.1bn, c£400m lower than anticipated and c£600m below last year
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NewsCollyer cuts JDW TP
Leading analyst Geof Collyer has reduced his Target Price for JD Wetherspoon from 785p to 745p ahead of its full-year results on 12 September, predicting “good top line growth” for the managed operator but an erosion of margin for the fifth straight year
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NewsTRG H1 lfls up 2.5%
The Restaurant Group (TRG) saw like-for-like sales grow 2.5% for the 26 weeks to 29 June and said it remained on track to double in size over the next eight to ten years
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NewsFuller’s agrees new £180m bank facility
Fuller’s, the London brewer and pub operator, has announced that it has successfully arranged new £180m bank loan facilities
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News
Pernod Ricard FY Europe sales up 2%
Pernod Ricard, the world’s second-biggest spirits group, saw full-year sales decline 7% to €7.95bn
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News
Accountancy firm eyes pub growth after toasting takeover
An accountancy firm that serves more than 300 publicans and pub companies says it is targeting growth as it celebrates a takeover deal
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NewsUpham raises further £2.6m; buys two pubs
Hampshire-based Upham Pub Company has continued its expansion and fundraising drive, raising a further £2.6m and buying two pubs, M&C Report has learnt
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NewsJack: Momentum strong at Spirit
A leading analyst said he expects tougher LFL comps (Q4: 4.1% / Q1-3: 0.7%) for Spirit Pub Company, which should reduce LFL sales to c.2% in Q4
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NewsChilango raises more than £2m
Chilango, the Mexican restaurant group, has generated more than double its original £1m fundraising target
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News
Tim Hortons overseas opportunities 'immense'
The opportunities for launching Tim Hortons in established Burger King markets including the UK are “immense” following the merger of the two companies, Burger King chief executive Daniel Schwartz has said
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NewsBurger King/Tim Hortons merger confirmed
The merger of Burger King and Canadian coffee giant Tim Hortons has been confirmed, creating the world’s third biggest quick service restaurant company generating c$23bn in system sales across 18,000 sites in 100 countries
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NewsJack upgrades Greene King to Buy
Leading analyst Douglas Jack has upgraded his recommendation for Greene King to Buy to reflect faster expansion and progress with the company’s repositioning towards food-led managed pubs
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NewsBurger King in talks to merge with Tim Hortons
Burger King and Tim Hortons are in discussions regarding a potential merger which would create a business with a combined market value of c$18bn (£10.9bn).
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Pub People Co reports pre-tax loss
The parent company of Midlands-based Pub People Company saw its pre-tax profit turn into a pre-tax loss in the year to 31 March 2014 after incurring significantly higher interest charges, and said it would continue to exit “underperforming” pubs
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NewsM&C20 experiences slight uptick
The M&C20 Leisure Index witnessed a slight uptick this week after the previous week’s impressive performance
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News
Analyst corner - Essenden
Jeffrey Harwood at Oriel Securities and Andrew Blain of Cenkos have both issued Buy recommendations for Essenden, the ten-pin bowling operator, pointing to the turnaround of the business in recent years in addition to strong trading momentum and scope for significant growth
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Analysis & Insight
Food spend falls
The amount spent on food has fallen for the first time since record began 25 years ago, as prices continued to outstrip wage growth
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NewsBrakspear reports a year of ‘positive change’
J T Davies & Sons, the parent company for Henley-based pub operator Brakspear, has reported a year of “positive of change”
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NewsBatemans has seven-figure acquisitions fund
Batemans, the Lincolnshire brewer and pub operator, has a seven-figure sum available for acquisitions over the coming three years and also plans to dispose of nine pubs during 2014 and 2015, managing director Stuart Bateman has told M&C Report