Finance – Page 253
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News
Iberica sets out growth strategy
Ibérica Food & Culture has announced plans to open seven sites over the next three years as it aims to have 10 restaurants operational by the end of 2016
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NewsLfls up 6.1% at Essenden
Essenden, the ten pin bowling operator, has said trading remains slightly ahead of expectations, with like-for-like sales up 6.1% in the 20 weeks to 18 May
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Max Property sees 13.3% uplift across pubs portfolio
Max Property Group has reported a 13.3% (£5.4m) increase in the valuation of the portfolio in the year to 31 March 2014
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NewsMiller Brands outperforms UK beer market
Miller Brands UK (MBUK), a subsidiary of SABMiller, outperformed the UK beer market for the year ending 31 March 2014, as domestic lager volumes grew by 5% compared to the overall beer market in the UK which declined by less than 1%
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Compass wins five-year Homebase deal
Global catering company Compass Group’s Instore division has secured a multi-million pound deal with DIY retailer Homebase to open 30 coffee shops across its chain of stores over the next five years
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Booker FY PBT grows 25% after Makro acquisition
Booker, the food and drink wholesaler, has reported a 2.1% rise in like-for-like sales (excluding its Makro business) in the year to 28 March as it saw profits before tax and exceptionals rise 25% to £118.7m following its acquisition of Makro
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NewsH1 lfls up 1.1% at M&B
Mitchells & Butlers (M&B) has this morning reported a 1.1% increase in like-for-like sales for the 28 weeks to 12 April 2014 and said that its performance had been underpinned by a turnaround in volume performance
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NewsYoung's to rebrand tenanted arm; FY adjusted PBT up 17%
Young’s, the London-based pub operator, has reported a 17% rise in adjusted pretax profit to £27.2m in the year to 31 March, with like-for-like sales in its managed arm up 6.7%, as it announced plans to rebrand its tenanted arm as the Ram Pub Company by the end of the summer
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NewsLuminar FY EBITDA grows 34%
Luminar has reported a 34% rise in EBITDA (pre non-recurring costs) to £9.7m in the year to 22 February and said it’s investment programme is starting to deliver results, with returns on investment at recent refurbishments exceeding 40%
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NewsBurns reiterates Buy for TRG despite share underperformance
Leading analyst Karl Burns has reiterated his Buy recommendation for The Restaurant Group (TRG) despite the fact it underperformed the FTSE All Share by 11% over the last month, saying it deserves to trade at a premium to its pub and restaurant peer group
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End of recession breeds optimism in consumers
Consumer spending is beginning to grow in areas that have been neglected during recent years, such as healthy food and exercise as well as home finances and family, according to the British Lifestyles report by Mintel
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NewsBritvic GB revenues grow 5%
Britvic saw revenues from its GB carbonates business grow 6.8% to £284.6m in the 28 weeks to 13 April, with still GB revenues up 2.3% to £167.4m despite a volume fall in that segment driven by Robinsons and J20
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NewsTGI Friday's sold
Carlson has announced that an agreement has been reached to sell TGI Friday’s, the casual dining chain, to Sentinel Capital Partners and TriArtisan Capital Partners for an undisclosed sum
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Matthew Clark buys stake in marketing agency
Matthew Clark, the drinks wholesaler part-owned by Punch Taverns, has bought a 51% stake in London-based marketing agency Elastic for an undisclosed sum
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Famous Brands: UK operation record one of its “best results”
Famous Brands has reported that its UK operations recorded one of its best-ever results in the year to 28 February, and announced plans to open more sites under its Steers brand here
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C&C FY EBITDA up 10.6%; Magners volumes fall 10%
C&C, the manufacturer of cider, beer and wine, sees double-digit operating profit growth from four of its five segments and EBITDA up by 10.6% year-on-year to £122.8m, despite Magners brand volume declining 10%
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NewsSheps simplifies share structure to attract investors
Shepherd Neame has said the simplification of its shareholder structure is to make the company more appealing to investors, to enable its continued improvement strategy
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NewsAnalyst corner
Nicholas Batram at Peel Hunt looks ahead to Mitchells & Butlers’ (M&B) half-year results on Thursday 22 May
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News
Losses narrow at For Your Eyes Only
For Your Eyes Only, the operator of lap dancing bars, has reported a narrowing of losses in the year to 31 October from £1.2m to £883,265 and said it continues to be in discussions about potential funding options for growth
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Westfield Group: UK rent grows 5.1% in a year
Westfield Group, the Australia-based shopping centre operator, has reported that average speciality rent at its two UK sites grew 5.1% in the year to 31 March to £88.69 per sq ft