Finance – Page 248
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NewsShan: Mixed start to year anticipated for GK
A leading analyst has said that he does not anticipate Greene King reporting a particularly strong start to the year given a solid +3.1% LFL comp
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Heartstone raises further equity
Heartstone Inns, the Enterprise Investment Scheme (EIS)-backed freehold pub operator, has raised a further £1m of equity as it looks to further add to its nine-strong estate
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Analyst corner
Douglas Jack at Numis examines yesterday’s announcement on Punch Taverns’ debt restructure and the pub company’s trading update
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NewsWadworth seeks new MD; FY PBT grows 16%
Wadworth, the Wiltshire brewer and pub operator, has announced that Charles Bartholomew is to stand down from his role of managing director and chairman in 2015 to become non-executive chairman
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NewsCalculus confirms Chop’d investment
Private equity fund manager Calculus Capital has confirmed it has invested £2m in Chop’d, the London-based salad bar chain
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Deliveroo raises £2.75m to expand business
Deliveroo, the London-based food delivery platform, has raised £2.75m of new funding to further strengthen its logistics technologies and delivery platform
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Gastropub group launches Crowdcude fundraising bid
A new gastropub group is looking to raise £150,000 for expansion by selling a 7.5% stake in their business on the crowdfunding website Crowdcude
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River Cottage Canteen raises £1m in under 36 hours
River Cottage Canteen, the restaurant and deli concept led by high profile chef Hugh Fearnley-Whittingstall, has reached its £1m fundraising target via the crowd-funding website Crowdcube in under 36 hours
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Analysis & InsightLeisure spending for May at 10-month low
Household leisure spending was down 11% in May compared with April reaching the lowest spend on eating and drinking out since January, according to the Greene King Leisure Spend Tracker
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NewsHansen: pub sector enters 'active M&A period'
The pub sector is entering an “active period of M&A activity”, according to Peter Hansen, founder of Sapient Corporate Finance
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NewsJack upgrades Greene King to Hold
Leading analyst Douglas Jack has upgraded Greene King from Add to Hold following “recent weakness”
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NewsThwaites secures new brewery site as FY PBT grows
Daniel Thwaites, the Lancashire brewer and pub operator, saw profits before tax and exceptionals grow from £6m to £7.8m in the year to 31 March following the culmination of a three-year restructure process at the company, and said it expects to complete on the purchase of a new brewery and head office towards the end of the year
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NewsCollyer: Greene King a long term winner
Greene King’s 2020 strategy for growth should see it generate above the long term market average growth rate, whilst also continuing to grow dividends in line with earnings, according to leading analyst Geof Collyer
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Imbiba completes latest round of fundraising
Imbiba has completed its latest round of fundraising, raising £6m to invest across its two concepts Darwin & Wallace and Camm & Hooper.
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PBR creditors likely to lose more than £7m
Four sites formerly operated by PBR Leisure, which was placed in administration last November, have been sold for a total of £4.2m, although creditors of the company are likely to lose more than £7m from PBR’s collapse
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Oracle confirms $5.3bn Micros deal
Oracle has confirmed it has agreed to acquire hospitality and retail technology vendor Micros Systems for $5.3bn
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NewsM&C20 hits six-month low
The M&C20 Leisure Index fell to its lowest point since December this week, sliding 35 points to 1,178 – just 118 points ahead of the All Share Index, which was down 7 points at 1,059
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NewsMcMullen's managed lfls accelerate to 6.7%
Like-for-like managed sales growth for McMullen’s, the Hertfordshire-based brewer and pub operator, has accelerated to 6.7% in the six months to the end of March 2014 after growing by 4.2% in the year to 28 September 2013
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Soho Coffee Co signs Total Fitness deal
Soho Coffee Co has signed a deal with health club chain Total Fitness to operate concessions across its 16-strong estate
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Timothy Taylor pre-exceptional operating profit grows 3.2%
Timothy Taylor, the West Yorkshire brewer and pub operator, saw pre-exceptional operating profits rise 3.2% to £2.1m in the year to 30 September