Finance – Page 264
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NewsSheps: investments, services, coffee, state of trade
M&C Report takes a closer look at the H1 results to 28 December for Shepherd Neame, and speaks to chief executive Jonathan Neame about the company’s approach to investments; which of its additional services are proving most popular with tenants; plus insights into acquisitions, disposals and coffee
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Cineworld revenues grow 13.2%; openings planned
Cineworld has reported a 13.2% rise in group revenue to £406.1m in the year to 26 December despite total box office revenues falling 0.3%, and said it plans to open three new Cineworld Cinemas and two new Picturehouse sites in 2014
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Just Eat acquires rival Meal2Go
Just Eat has acquired rival Birmingham-based business Meal2Go to improve the electronic point of sale (EPOS) technology it can offer its thousands of partner restaurants
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NewsJack: JDW PBT to grow 6%
Leading analyst Douglas Jack has forecast that JD Wetherspoon will report a 6% rise in pre-tax profit to £37m, with earnings up 9%, at its interim results next Friday (14 March)
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NewsSheps growth accelerates
Shepherd Neame, the Kent-based brewer and pub operator, saw growth accelerate across its tenanted and managed pubs, its hotels and core brands in the 26 weeks ended 28 December, with managed like-for-likes up 7.5% in the period
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NewsPatisserie Holdings acquires Philpotts chain
Patisserie Holdings, the Risk Capital Partners-backed group and operator of the Patisserie Valerie chain, has acquired Philpotts Ltd, the independent premium sandwich and salad retailer with 23 shops in the UK, for an undisclosed sum.
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NewsCarlson in talks to sell TGI Friday’s
Carlson, the US-based parent company of TGI Friday’s, is in advanced talks to sell the casual-dining brand to buyout firm TriArtisan Capital Partners in a deal believed to be valued at around $850m
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NewsGrowth slows for M&C20
The M&C20 Index once again outperformed the FTSE All Share this week, although growth slowed to 0.5%, against +1.6% last week, following a sluggish performance by some major pub groups in particular
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Analyst corner
Pub and restaurant operators will be able to manage the expected 3% rise in the national minimum wage (NMW) “without risk to margins”, according to leading analyst Douglas Jack
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NewsKings Park eyes overseas franchise for Abokado and Fuel
The potential to take Abokado and Fuel Juice Bars overseas via franchise is being examined, according to Jason Katz, founding partner at their backer Kings Park Capital
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NewsFY lfls drop 1.6% at Tragus
Tragus, the Café Rouge, Bella Italia and Strada operator, saw like-for-like sale decline by 1.6% in the year to 2 June 2013
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FY EBITDA up at Food & Fuel
Food & Fuel, the operator of London-based gastropubs and bars headed by former Spirit boss Karen Jones, saw EBITDA climb 2.8% to £655k in the year to 2 June 2013
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NewsDomino’s UK FY lfls up 7%
Domino’s Pizza Group has this morning reported like-for-like sales growth of 7% across its 670 UK mature stores during 2013 and announced it had entered into an agreement to purchase the minority shareholding in relation to its German business
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NewsWhitbread Q4 lfls accelerate to 6.8%
Whitbread has reported a 4% rise in like-for-like sales for the 50 weeks to 13 February, accelerating to +6.8% in Q4 driven by a “particularly good Christmas” and “to a lesser extent” favourable weather comparatives in January
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NewsWelcome Break to invest in estate overhaul
Welcome Break is to invest in excess of £15m over the next two years converting 14 or 15 of its service stations to an airport-style model, writes The Times
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NewsGreggs FY lfls fall 0.8% in 'transitional' year
Greggs, the high street bakery chain led by Roger Whiteside, a reported a 0.8% fall in like-for-like sales in what it called a “year of transition” in the 52 weeks to 28 December
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NewsABInBev FY UK volumes fall 3%
ABInBev saw UK volumes fall 3% in 2013, with a decline of 2.9% in the fourth quarter, although the country outperformed Western Europe as a whole
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BT and Carlsberg UK agree sports discount deal
Freetrade outlets that stock Carlsberg UK products and those that sign up to BT Sport will be entitled to a 50% discount on a BT Sport subscription under a new deal agreed between the companies
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NewsTRG lfls up 3.5%
The Restaurant Group (TRG) has this morning reported strong current trading, with total sales up 10% and like-for-like sales at 3.5% for the eight weeks to 23 February 2014, and said that the search for a new chief executive is “well underway”
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Cineworld FY PBT to be c£45m
A leading analyst has forecast that full year pre-tax profit at Cineworld will be up 17% to £45.5m, driven by the acquisition of Picturehouse and a 4% increase in like-for-like box office (vs. the market’s -0.3%)