Finance – Page 246
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News
Vianet: Pub sector trading has remained flat
Vianet has said that the first quarter of the current year has started largely as anticipated with trading in the pub sector remaining flat ahead
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OpinionQ2 trading update
M&C Report talks to pub, bar and restaurant groups about trading in the second quarter of 2014, with reflections on the first six months of the calendar year. The consensus is that the strong first quarter had broadly continued in Q2, aided to some extent by the weather and sporting fixtures, and operators are largely optimistic about the year ahead
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NewsJack: Spirit offering attractive growth
A leading analyst has said that in his view Spirit’s shares offer attractive growth and re-rating potential
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NewsHony Capital acquires PizzaExpress
Hony Capital, one of China’s largest private equity firms, has completed the acquisition of PizzaExpress, in a deal that values the Cinven-backed chain at c£900m
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NewsM&C20 hits seven-month low
The M&C20 Leisure Index has reached its lowest point since December with values sliding 3.5% to 1,154
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NewsAnalyst corner: Jamie Rollo on JDW
Jamie Rollo of Morgan Stanley takes a look back at this week’s Q4 update from JD Wetherspoon and says that for the full year he now expects total revenue growth of 9.7% and an EBIT margin of 8.1%
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News
San Carlo operator reports rise in FY PBT
The parent company of the San Carlo and Cicchetti restaurant brands has reported a 16.2% rise in turnover to £34.9m for the year to 30 September 2013
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NewsHolts names new chair as PBT falls
Joseph Holt, the Manchester-based brewer and pub operator, saw its pre-tax profit fall to £2.8m from £3.5m in the year to 31 December 2013 and announced that chairman David Tully is to step down
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NewsSSP valued at almost £1bn
An offer price of 210p has been set for SSP’s IPO, which values the company at c£997m
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NewsAnalysts reiterate JDW margin concerns
Leading analysts have held their recommendations for JD Wetherspoon following its quarterly results yesterday, with concerns about its margins again highlighted
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News
Booker lfls up 3.8% for Q1
Booker Group, the food wholesaler, reported like-for-like sales growth of 3.8% for the 12 weeks to 20 June 2014 and said it is “on course” to meet full-year expectations
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News
Losses widen at BCI but trade finally recovers
British Country Inns (BCI), the freehold pub operator, saw losses widen across its four Enterprise Investment Scheme (EIS) companies in the year to 1 February 2014 mainly due to “heavy impairment and depreciation charges” after an estate review
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NewsFitch upgrades outlook for Marston's
The revised outlook reflects “the on-going strong performance of the managed pub division” and ”gradual improvement in both tenanted estate quality and operating performance”, in addition to ”prepayment-led deleveraging”
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NewsYoung's lfls accelerate over summer
Young’s, the London-based pub operator, saw like-for-like sales accelerate slightly over the latter part of its most recent 13-week trading period, chief executive Stephen Goodyear has told M&C Report
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NewsJDW lfls rise 4.9%; operating margins stabilise
JD Wetherspoon has reported a a 4.9% rise in like-for-like sales for the 10 weeks to 6 July, with operating margins stabilising
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News
Rileys shareholders consider options for group
Shareholders of Rileys, the operator of 60 sports bars across the country, have appointed advisors to oversee options for the group, Sky News reports
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News
Santander commits £100m to Scottish leisure sector
Santander has committed another £70m to the Scottish hotel and leisure sectors for 2014 after already lending £30m since the beginning of the year
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News
Nectar Taverns placed on the market
Nectar Taverns, the north west-based pub group, has been placed on the market with a price tag of c£10m
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News
Food sales drive M&S growth
Marks & Spencer has reported “great quarter on food sales”, up 4% overall and 1.7% on a like-for-like basis in the 13 weeks to 28 June
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NewsYoung's managed lfls grow 7.3%; confirms new sites
Young’s, the London-based pub operator, has reported a 7.3% rise in like-for-like sales in its managed arm for the first 13 weeks of its current financial year (since 31 March), and also confirmed that it has bought another pub and exchanged contracts on two others