Finance – Page 259
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News
Hakkasan 'focused on long term growth' as losses widen
Hakkasan Group president Nick McCabe has said the international restaurant operator is focusing on long term growth rather than short term financial performance as it reports a widening of pre-tax losses from £4m to £31.9m in the year to 31 May 2013
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News
Hakkasan targets London for new JV
Hakkasan, the international restaurant group backed by Tasameem, a property arm of the Abu Dhabi Investment Authority, has formed a joint venture hotel management company with luxury resort operator MGM Resorts International, with London among its targets
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News
HSBC pledges £6bn for SMEs
HSBC has set up a £6bn lending fund for small and medium sized businesses in the UK in the form of 52 local funds as it predicts a turning point for British businesses in its latest market report titled Business of Growth
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NewsPunch: net income grows in core estate; restructure talks continuing
Punch Taverns has reported a 1.4% rise in like-for-like net income in its core estate in the 28 weeks to 1 March, with average profit per pub up 4% across the entire estate
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News
SSP appoints former Punch CEO Dyson to board
SSP, the travel concessions operator, has named former Punch Taverns chief executive Ian Dyson and Denis Hennequin, former European president and chief executive at McDonald’s Corporation, among three appointments to its board as it reportedly prepares for flotation
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NewsGondola reports 'strong performance'
Gondola Group says it has delivered “another strong performance” in the year, saying that the evolution of its Zizzi brand is “almost complete”, PizzaExpress has “strong positive momentum” and ASK Italian is “well on the way to realising its long term vision”.
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NewsSABMiller FY UK volumes grow 5%
SABMiller, the global brewer, has reported a 5% rise in volumes in its UK arm Miller Brands for the 12 months to 31 March, citing “strong performance throughout the year” from Peroni Nastro Azzurro
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News
Late Easter flattens March retail figures
Retail figures for March are down 1.7% on a like-for-like basis compared to 2013, which has been attributed to Easter falling in April not March causing a distortion in the data especially for the food and home categories
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NewsZolfo Cooper Profit Tracker - the results
M&C Report, in partnership with Zolfo Cooper, the leading financial advisory firm, has created the Profit Tracker to chart the growth of the most successful privately-owned operators within the vibrant pub, restaurant and quick-service sector
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OpinionQ1 trading overview
M&C Report talks to major pub, bar and restaurant groups about trading in the first quarter of 2014. The consensus is that Q1 was as good as or better than expected, and operators are largely optimistic about the year ahead
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NewsCharterhouse targets expansion as FY EBITDA grows 13.2%
Charterhouse Leisure, operator of the Coal Grill & Bar brand, has reported a 13.2% rise in company EBITDA to £727,000 for the year to the end of February and said it plans to grow from six to about 24 sites over the next three years
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NewsTGI Friday’s UK FY lfls rise 3.6%
TGI Friday’s UK has reported a 3.6% rise in like-for-like sales in the 52 weeks to 29 December 2013 and said its most recent openings are performing “in excess of expectations”
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News
West Cornwall Pasty Company sold in pre-pack deal
More than 200 jobs have been saved after Enact, the £7.5m SME fund launched by private equity house Endless, agreed to acquire 35 West Cornwall Pasty Company outlets and stores, together with the brand
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NewsM&C20 suffers record fall as leisure stocks slide
The M&C20 suffered the biggest fall of its 11 month history, as shares in leisure sector stocks plunged 3.6% this week
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NewsHarry Ramsden’s Q1 lfls up 6.2%; reports franchise progress
Harry Ramsden’s, the iconic fish & chip shop group, has reported a 6.2% rise in like-for-like sales in the first quarter of this calendar year, and said it now has franchise agreements in place for 100 new outlets within five years
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NewsOrchid to expand All Inns after division's lfls rise 23%
Orchid Group has reported a 23% rise in like-for-like sales at its All Inns family-friendly pub sites in the 12 months since the first conversions to the format, and revealed that a further 26 outlets are to join the division, adding to current 16
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News
Malik reveals target locations for Modern Asian Deli
Chef entrepreneur Angela Malik is targeting sites in central London and to the west and east of the capital for the third outlet under her Modern Asian Deli concept
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NewsPrezzo FY EBITDA up 13%; plans 25-30 openings this year
Prezzo, the Jonathan Kaye-led restaurant group, has reported a 13% rise in adjusted EBITDA to £28.9m in the year to 29 December on revenue up 15% to £166.5m, and said it planned to open 25-30 new sites by the end of this year
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NewsEAT to complete refurbs early; eyes acquisitions
EAT, the Lyceum Capital-backed chain, is due to complete its store refurbishment programme six months ahead of schedule in December and will target acquisitions from the start of 2015, chief executive Adrian Johnson has told M&C Report
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NewsJust Eat share price falls
Shares in Just Eat, the on-line takeaway platform, have fallen significantly since a spike on its first day of trading on the London Stock Exchange