Finance – Page 251
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NewsStatutory code to have 'little practical difference' to pubcos
Government plans to introduce a statutory code in the tenanted sector should have a “small negative impact” on Enterprise Inns and Punch Taverns, but overall make “little practical difference” to quoted operators, according to leading analyst Douglas Jack
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NewsBarber raises £5m for Hush and Cabana
Jamie Barber, the restaurateur behind the Cabana and Hush Brasserie brands, has raised £5m of new equity to fund the expansion of both brands
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Stations attract millions of non-travellers
Tens of millions of people a year are visiting Britain’s biggest railway stations who aren’t travelling by rail to eat, drink and shop, new figures show
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NewsR&L Properties disposal completed
On the back of Hawthorn Leisure’s acquisition of 88 pubs from the former estate of Robert Tchenguiz, the sale process of the R&L Properties pubs portfolio have now been completed for a total sum of c£75m
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NewsCote completes Cobham deal
Cote, the French brasserie chain, has completed on a site in Cobham for an opening at the end of this year/start of next
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World Cup could generate £1.3bn for leisure and retail industry
England fans will spend up to £431m in pubs and restaurants if England makes it to the World Cup final this summer with each goal estimated to be worth £33.2m as fans celebrate, according to a report by VoucherCodes.co.uk
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NewsStatutory code has little effect on pubco share prices
Yesterday’s news that the Government is to introduce a statutory code and adjudicator into the pubco/tenant relationship had little impact on the movement of shares among listed pub groups that operate tenanted and leased outlets
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NewsRobinsons: tenancy innovation, operating profit grows 50.5%
Robinson’s, the Cheshire-based brewer and pub operator, is to introduce a more flexible tenancy agreement this year, which it hopes to rollout across most of its estate, joint managing director William Robinson has told M&C Report
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NewsJack upbeat on Spirit
Leading analyst Douglas Jack has predicted “strong” results for Spirit at its Q3 interim management statement next Tuesday, saying that trading for the pub group should be ahead
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Benugo FY PBT grows 46.5%
Benugo, the restaurant operator and caterer, has reported a 46.5% rise in pre-tax profits to £4.9m in the year to 27 December 2013 and said it forecasts “significant growth opportunities” for 2014
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Pub company share prices drop with England’s losses
The average share price of the UK’s top five listed pub chains is directly impacted by England’s performance in the World Cup, according to analysis of previous tournaments by registrar firm Equiniti
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Tesco refurbs 100 stores in Q1
Tesco, the supermarket group that owns eating out brands Giraffe, Decks and has invested in Harris + Hoole, has reported that it has refurbished more than 100 stores during the three months to 24 May
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NewsChop’d to secure new funding
Chop’d is in advanced talks to secure £2m of new funding from private equity group Calculus Capital, which could help the group triple its estate over the next five years
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NewsTragus to undergo restructuring
Tragus is to undergo a financial restructuring, which will include the launch of company voluntary arrangements (CVAs) for Café Rouge and Bella Italia, and the sale of Strada, to ensure a long-term sustainable future for the business
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NewsCollyer: Gov't intervention 'good news' for pubcos
Leading analyst Geof Collyer says the Government’s plans to intervene in the tenanted pub sector will be “good news in the long term” for Enterprise Inns, Marston’s and Greene King
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NewsSpirit plans Orchid leases deal
Spirit Pub Company is planning to acquire around a dozen leases currently operated by Orchid Pub Company on which it is guarantor before they are placed into administration
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NewsPunch agrees to sell five pubs for £9.7m
Punch Taverns has agreed to sell five freehold pubs in central London to Manica Properties Ltd, an Isle of Man-based company, for £9.7m
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NewsStonegate-operated package sold in £28m deal
OLIM Property, the property investment company led by former Liberal Democrat Treasury spokesman Matthew Oakeshott, has acquired 15 freehold pubs let to Stonegate Pub Company for £28.3m
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NewsOperators outline Responsibility Deal progress
Operators from the eating and drinking out sector have taken further steps to adhere to targets under the Public Health Responsibility Deal with the Government through means such as reducing salt and calorie content of foods and avoiding underage alcohol sales
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NewsM&C20 grows despite Punch equity jitters
The M&C20 index grew by 0.3% this week despite a dramatic 23% fall in the share price of Punch Taverns, which overshadowed the modest gains made by the majority of member companies, but was buoyed by a stunning stock market debut from Patisserie Valerie