Finance – Page 24
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NewsEG Group: Foodservice represents significant growth opportunity
The group’s foodservice gross profit increased by 24% to £174.1m in Q3 2023, boosted by improved margins across the UK and Ireland
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NewsTRG shareholders approve sale to Apollo
In total, 93.53% TRG shareholders voted to approve the deal, which will see the Wagamama and Brunning & Price operator taken private
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NewsLoungers: Not all doom and gloom in the hospitality sector
The cafe-bar group is “living proof” that strong businesses are still capable of thriving, as it reports half year revenue up 22% to £150m
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NewsJoe & the Juice surpasses £45m turnover
Revenue for 2022 grew 66% compared to £27m the prior year, and is expected to grow by another 20-30% in 2023
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NewsPho continues expansion amid sales growth
The Vietnamese restaurant group reported turnover of £58.3m for the year ended February 2023, with an “extensive pipeline” of new sites being progressed
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NewsNightcap counts cost of rail strikes
CEO Sarah Willingham railed against the “ruthless continuation” of the industrial action, which is estimated to have cost the company £2.9m in lost revenue, and seen like-for-like revenues decline by 12.5%
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NewsMcDonald’s ups stake in China business
The acquisition of investment firm Carlyle’s 28% holding in the burger chain’s China business will allow the corporation to “further benefit from our fastest growing market’s long-term potential”
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Hawksmoor drives turnover with strong recovery
Revenue rebounded strongly in 2022 for the steakhouse group, with turnover up 107% to £73.9m, attributed to both maturing restaurant growth and new openings
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NewsDrinks and accommodation drive growth at Young’s
The pub company reported interim results with revenue of £196.5m and room revenue termed the “standout performance” during the period
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NewsFuller’s: Market outperformance driven by growth across areas
The pub operator reported revenue of £188.8m for the half-year to 30 September, with double-digit like-for-like growth across food, drink, and accommodation
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NewsSoho House reports continued membership growth
The members’ club now has a total of 110,333 UK members across its Soho House, Soho Friends, and Soho Works concepts
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NewsJoe & The Juice acquired by General Atlantic
The investment will further accelerate growth across international markets, including the US, Middle East and UK, and reduce debt on the company’s balance sheet
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NewsDaniel Thwaites reports ‘solid’ half year performance
Pubs and inns traded well in the six months to 30 September, driven by intervals of good weather and an improved staycation market
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NewsDiageo updates medium term guidance
While growth continues to be strong in Europe, Diageo cited a weaker performance outlook in Latin America and the Caribbean
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NewsKrispy Kreme: UK pricing and cost control drives EBITDA
Krispy Kreme has reported Q3 2023 results, with international adjusted EBITDA margin expansion in part driven by initiatives in its UK estate
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NewsDomino’s sees continued sales growth
The pizza business reported Q3 total system sales up 5.5%, driven by an acceleration in new store openings
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NewsAdmiral Taverns reports resilient trading
The c1,500 strong pub group said that its continued investment in pubs and licensees was driving growth in a “volatile external environment”
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NewsWetherspoon sees continued ‘gradual improvement’ in trading
Like-for-like sales were ahead of the market and up 9.5% in the first 14 weeks of the year, with inflationary pressures easing
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NewsGlenshire Group acquires 16 Pizza Hut sites
The Scottish family-owned conglomerate also operates 21 Greens Retail convenience stores and sees “significant synergies” betwween the combined businesses
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NewsOakman to issue £10m loan note
The pub operator is looking to refinance £5m of third-party debt and develop new sites, such as Bush Hall in Old Hatfield, the Beech House in Epsom and Batchwood Hall in St Albans