Finance – Page 245
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NewsTesco names new CEO; trading 'challenging'
Tesco, the supermarket giant that has been making further inroads into the eating-out sector, has announced the appointment of former Unilever chairman Dave Lewis as chief executive to replace Philip Clarke from 1 October
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NewsTGI Friday’s new owners to consider options for UK arm
Sentinel Capital and TriArtisan Partners, the new owners of TGI Friday’s are in the early stages of considering a sale of its British arm
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NewsSSP joins M&C20 in a week of modest recovery
The M&C20 Leisure Index staged something of a recovery following last week’s recent dramatic fall as it finished up six points at 1,160
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Analyst corner: Jamie Rollo on Enterprise Inns
Jamie Rollo of Morgan Stanley looks ahead to Enterprise Inns’ Q3 interim management statement on 7 August, saying he expects like for like net income to be up 1.5%, boosted by the Easter shift, the World Cup and good weather
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BGF in talks with Chaophraya
The Business Growth Fund (BGF) is in talks to invest in Chaophraya, the Thai restaurant group
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NewsEssenden H1 lfls grow 6.1%
Essenden, the tenpin bowling operator, has reported a 6.1% rise in like-for-like sales for the 26 weeks to 29 June, while growth has accelerated after England’s elimination from the football World Cup
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NewsFY pre-tax losses narrow at GBK
Gourmet Burger Kitchen (GBK), the Capricorn Ventures-backed group, reported a narrowing of pre-tax losses in the year to 23 February 2014, as it saw turnover increase 24% to £50.5m
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British Land footfall grows 2.5%
Footfall in shopping areas at premises operated by British Land Company has grown by 2.5% in the past year, the company has reported
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Crowdcube receives £3.8m investment
Balderton Capital, one of Europe’s largest venture investors, has invested £3.8m in crowdfunding platform Crowdcube, which is used by a number of operators in the eating and drinking out sector to raise money for expansion
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NewsYum! reports 6% rise in Q2 sales
Yum! Brands has reported a 6% rise in worldwide system sales for the quarter to 14 June 2014, aided by a 12% increase in sales across KFC UK
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TCR London returns to profit
TCR London has reported turnover of £12.1m for the year to 2 February 2014, up from £7.2m in the previous period, as it swung from a £190k pre-tax loss to a £19k profit
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Moorhouse’s: pub acquisitions are years away
David Grant, managing director of Lancashire brewer and pub operator Moorhouse’s, has told M&C Report that he doesn’t expect to restart pub acquisitions for another two or three years
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NewsSquare Pie lfls rise 22%
Square Pie, the gourmet pie shop chain, has reported strong trading for the first six months of 2014, with like-for-like sales up 22% across its five sites
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NewsJack: Marston’s trading be ahead despite slowdown
A leading analyst has said that even though like-for-like trading should have slowed at Marston’s due to much tougher comps in Q3, he expect the company to still be ahead after nine months
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NewsJack: Fuller’s trading to have remained ahead
A leading analyst has said that the World Cup should have provided a slight boost to both the managed and tenanted estates (positive for drink-led outlets; negative for wet-led outlets) of Fuller’s
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Bettys & Taylors PBT grows 10.1%
Bettys & Taylors, the Yorkshire cafe operator and bakery business that runs the Bettys Café Tea Rooms brand, saw pre-tax profits rise 10% to £10.1m in the year to 31 October 2013
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Greene King and AB InBev sign Goose Island supply deal
Greene King, the brewer and pub operator and drinks distributor AB InBev UK, have formed a partnership to distribute and sell US craft beer Goose Island in the UK from October
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Alcuin invests in Salt Yard Group
Alcuin Capital Partners has taken a stake in the Salt Yard Group, the London-based restaurant company that includes Salt Yard and Opera Tavern in its portfolio
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NewsEx-Land Securities exec sets up leisure property fund
Ashley Blake, who previously ran Land Securities’ £4bn retail and leisure portfolio, has created a leisure sector-focused property investment company that’s looking to raise c£200m to buy freeholds and long leaseholds let to leisure operators, M&C Report has learnt
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NewsJack: Domino’s H1 UK trading to have remained strong
A leading analyst has forecast that PBT for Domino’s will be up 10% to £24.5m in H1