Finance – Page 258
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News
Jack reiterates Buy for Spirit
Leading analyst Douglas Jack has reiterated his Buy recommendation for Spirit Pub Company following its H1 results this morning, and said forecast risk for Spirit is “on the upside”
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NewsSpirit H1 PBT grows 11%; managed lfls up 4.8%
Spirit Pub Company has reported an 11% rise in pre-exceptional pre-tax profits to £22m in the 28 weeks to 1 March, with like-for-like sales up 4.8% in its managed sites and like for like net income up 2.6% in the leased business
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NewsPatisserie Holdings sets outs growth strategy
As part of its intention to float on AIM, Patisserie Holdings gave an update on its future growth strategy and said it had identified over 250 further potential sites in the UK with similar characteristics to those currently trading under its brands
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NewsUK helps lift McDonald's in Q1
Positive sales in the UK helped to lift McDonalds’ comparable sales in Europe by 1.4% in the first three months of 2014
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NewsPatisserie Holdings plans IPO
Patisserie Holdings, the parent company of the Patisserie Valerie chain, has announces plans to proceed with an initial public offering and said it has identified a further 250 potential new UK sites
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NewsJack expects 'strong update' from Greene King
Leading analyst Douglas Jack says he expects a “strong update” from Greene King next week, with a “good chance of upgrades”
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NewsBurns reiterates Buy for TRG
Leading analyst Karl Burns has reiterated his Buy recommendation for The Restaurant Group (TRG) after the company announced the disposal of its stake in Living Ventures’ Gusto business
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OpinionTo invest or not to invest...
Private equity has provided the finance for most growth concepts on the UK’s pubs and restaurants scene. So what makes a great private-equity investment? Electra Partners’ Bill Priestley gives his view
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NewsHarveys profits rise after cost savings
Harveys, the East Sussex brewer and pub operator, saw operating profits grow 13% to £295,405 in 2013 after it achieved savings in “various areas of expenditure”
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News
Essenden reveals debt for equity swap details
Essenden, the Nick Basing-led operator of the Tenpin bowling brand, has issued details of its plan to undertake a debt for equity swap to prepare the business for acquisitions
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NewsM&C20 stabilises as household confidence returns
M&C20 stabilised (up 4 points to 1,250) this week after recent heavy losses caused by market jitters and profit taking. The leisure index outperformed the All Share index, which slipped 1 point to 1,027
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NewsBatram issues Buy for Spirit
Leading analyst Nicholas Batram has issued a Buy recommendation for Spirit ahead of its H1 results on Thursday (24 April)
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News
Chipotle Q1 sales up 13.4%
Chipotle has reported a 13.4% increase in comparable restaurant sales for the first quarter of this year, with revenue up 24.4% to $904.2m
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News
Analyst French swaps Panmure for Cenkos
Leading sector analyst Simon French has left Panmure Gordon after five years to join Cenkos
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NewsAnalyst corner
Beaufort Securities has reiterated its Hold recommendation for Punch Taverns following the pub company’s interim results for the 28 weeks to 1 March
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News
Liberis allocates £30m in lending for sector
Alternative finance provider Liberis, which is chaired by former Punch Taverns COO Adrian Fawcett, is allocating £30m of new lending for the hospitality sector
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NewsDiageo returns to growth in Western Europe
Diageo saw sales return to growth in the three months to 31 March across Western Europe, outperforming the group as a whole
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News
Deep Blue Restaurants reports full-year loss
Deep Blue Restaurants, the Surrey-based restaurant and takeaway operator, has reported a pre-tax loss of £468,058 in the year to 24 September 2013 against a pre-tax profit of £1.6m in the previous year
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News
Jockey Club reports record turnover
The Jockey Club, the operator of 15 UK racecourses, has reported record turnover in 2013, with growth of 11% to £166.9m
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Analysis & InsightSector lfls grew 4.6% in March
Like-for-like sales grew 4.6% in March across 27 leading pub and restaurant groups compared to the same period last year and ending a year of positive growth