Finance – Page 254
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NewsM&C20 falls as hedge funds take profits
The M&C20 index suffered a steep fall this week as shares in the leisure sector slid 2.9%, leading to losses of £328m among the 21 constituent companies
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NewsTRG eyes more triple openings
The Restaurant Group (TRG) is likely to open sites at the top end of its 2014 openings target, with more units set to open that incorporate three TRG brands, chief executive Andrew Page has told M&C Report
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NewsMarston's: newbuilds, disposals, franchise, lodges
M&C Report takes a closer look at the H1 results for the 26 weeks to 5 April for Marston’s, speaks to chief executive Ralph Findlay and reports from a presentations featuring senior company directors
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NewsSt Austell FY EBITDA grows 7.4%
St Austell, the Cornish brewer and pub operator, has reported a 7.4% rise in EBITDA to £13.8m in the year to 28 December on turnover up 10% to £116.6m, with growth recorded in every division
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NewsTRG lfls grow 4%
The Restaurant Group saw like-for-like sales grow 4% for the first 19 weeks of its current financial year, and says it is on track for “a very satisfactory” H1
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NewsJack: Marston's 'well placed to drive growth'
Leading analyst Douglas Jack at Numis has reiterated his Buy recommendation for Marston’s following its H1 results this morning, saying that the company has “strong underlying trends” and that it’s “well placed to drive growth”
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NewsMarston's H1 PBT grows 9.4%
Marston’s, the brewer and pub operator, has reported a 9.4% rise in underlying profit before tax to £29m in what it called a “strong” half year (26 weeks to 5 April)
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NewsYO! signs deal for 50 US openings
YO! Sushi, the Quilvest-backed group, plans to open 50 restaurants in the US over the next six years after signing a new franchise agreement for the country
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CPL and BII agree £1m partnership deal
CPL Training Group has announced that it has entered into a strategic partnership with the BII to deliver all BIIAB qualifications across the UK for the next five years
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NewsEAT secures £40m refinancing
EAT, the Lyceum Capital-backed group, has secured a £40m refinancing, which includes a £12.5m capital expenditure tranche which will be used to fund plans for further store openings
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Compass: Conditions improving in Europe
Compass Group, the global contract caterer, has said that it is starting to see an improvement in economic conditions and new business growth in Europe
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NewsPatisserie Holdings valued at £170m
Patisserie Holdings has been valued at £170m on its conditional admission to AIM this morning, placing it at the lower end of its predicted range
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Analysis & InsightSector lfls grow 4.4% in April
Pub and restaurant groups experienced another strong period of trading in April, with like-for-like sales across 28 leading companies up 4.4% during the month
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Collyer upbeat on Enterprise
Leading analyst Geof Collyer has said he’s “very confident” of his full-year forecast for Enterprise Inns following its H1 results this morning, with the possibility that the company could report EPS growth for 2014
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Essenden undertakes debt for equity swap
Creditors of Essenden, the Nick Basing-led operator of the Tenpin bowling brand, have voted overwhelmingly in favour of its plan to undertake a debt for equity swap to prepare the business for acquisitions
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NewsTRG 'well placed amid strong trading'
Leading analyst Karl Burns has reiterated his Buy recommendation for The Restaurant Group (TRG) ahead of its trading update on Thursday, saying that he expects trading to have been strong in the period, with like-for-like sales growth of around 3-4%, and arguing that it’s well positioned to benefit from improved consumer spending
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NewsEnterprise lfl net income grows 1.1%
Enterprise Inns, the tenanted and leased pub operator, has reported a turnaround in like-for-like net income in the six months to 31 March, with growth of 1.1% against a decline of 4.3% in H1 2013
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NewsJack predicts lfl profit lift at M&B
Leading analyst Douglas Jack has forecast that Mitchells & Butlers (M&B) will report a 2% rise in H1 pre-tax profit and 1% rise in like-for-like sales at its interim results on 22 May
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NewsSuitors circle Orchid
Mitchells & Butlers (M&B), Greene King and Starwood Capital, are amongst six firms believed to be set to bid for all or part of Orchid Pub Company
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NewsJoseph Holt agrees £20m refinancing deal
Joseph Holt is set to embark on an expansion drive focused on food-led sites, after agreeing a £20m refinancing deal with the Royal Bank of Scotland