Finance – Page 263
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News
Autogrill profits pick up after drop in 2013
Autogrill, the transport hub operator, said sales were starting to pick up this year as road traffic after reporting a 2.2% drop in revenue to €3.98bn in 2013
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NewsJDW: Ireland, property, World Cup, M40, analysts
M&C Report takes a closer look at the H1 results to 26 January for JD Wetherspoon and reports from a press briefing with chief executive John Hutson and finance director Kirk Davis
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NewsHarry Ramsden’s signs franchise deal for Scotland
Harry Ramsden’s, the iconic fish & chips brand, plans to open 50 sites in Scotland by 2019 after granting the franchise for Scotland to Sevenseas Ventures Limited
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NewsAction on pubcos this Parliament 'unlikely'
It’s “increasingly unlikely” that tenanted pub companies will be subject to legislation during this Parliament, according to leading analyst Nigel Parson
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News
Yummy reports February lfls up 15%
Yummy Pub Co, the four-strong pub operator, has reported like-for-like sales were up 15.6% across its sites in February
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NewsJDW H1 lfls rise 5.2%
JD Wetherspoon has reported a 5.2% rise in like-for-like sales in the 26 weeks to 26 January, with profits before tax and exceptionals up 8.5% to £37.8m
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NewsCaring to pick up warchest for further restaurants
Serial sector investor Richard Caring is set to gain a “warchest” for further restaurant and club acquisitions in London, after the sale of significant part of Camden Market and Wentworth golf club
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Analysis & InsightSector lfls flat in February
Like-for-like sales across 27 leading pub and restaurant groups were virtually flat in February, with growth of just 0.2%, against relatively difficult comparatives with the same month last year
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News
Imbiba secures £4m of new funding
Imbiba Partnership, the investment vehicle led by John Connell, has so far raised £4.1m out of the £6m it is looking to secure from its latest round of fundraising
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News
Roadchef 'up for sale'
Roadchef, the motorway services operator, is reportedly set to be put up for sale for c£350m
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News
Nichols FY PBT grows 10%
Nichols, the soft drinks supplier whose brands include Vimto, Sunkist and Panda, has reported a 10% rise in pre-tax profit (pre-exceptionals) to £22.5m in 2013, which it said was “another excellent year” for the company
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News
OFT: banks 'a barrier to alternative funding’
Banks may be hindering small and medium enterprises from accessing finance from alternative providers such as peer-to-peer lenders and on-line lending platforms, the Office of Fair Trading has warned
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NewsJack reiterates Buy for Spirit
Leading analyst Douglas Jack has reiterated his Buy recommendation for Spirit Pub Company ahead of its H1 trading statement next Tuesday (18 March), saying that the forecast risk for the group remains on the upside
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News
Eataly sells stake, eyes flotation
Eataly, the Italian food emporia and restaurants group that’s reportedly in talks with the family behind Selfridges about bringing the concept to London, has sold a 20% stake to Italian investment firm Tamburi Investment Partners (TIP) as part of a move to list on the stock exchange
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NewsMcDonald’s sales drop in February
McDonald’s has reported that global comparable sales decreased 0.3% in February, despite a 0.6% increase in Europe, aided by a continued strong performance in the UK
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NewsM&C20 flat but outperforms All Share index
Growth for the M&C20 slowed to a halt this week, although it still outperformed the FTSE All Share index, which fell by 0.5%
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News
Analyst corner
Leading analyst Mark Brumby at Langton Capital says that there have been several positive recent developments in terms of cost reduction for the pub and restaurant sector in the UK
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News
RBS aids Bannatyne refinancing
Bannatyne Fitness Limited, the national chain of health and fitness clubs, has secured a refinancing package of £35m through the Royal Bank of Scotland (RBS)
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NewsCollyer: JDW share price 'high enough for now'
Leading analyst Geof Collyer has reiterated his Hold recommendation for JD Wetherspoon ahead of its H1 results next Friday, saying that it’s share price “seems high enough for now”, and suggested that the market is “getting maybe a little ahead of itself” in terms of expected upgrades
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News
Burger Bear reaches funding target
Burger Bear has achieved its target of raising £30k through online-funding platform Kickstarter to open a permanent site in two stacked used cargo containers in Shoreditch