Finance – Page 272
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News
Cineworld to double estate with £503m Polish acquisition
Cineworld, the UK’s largest cinema operator, is to double its estate to 201 sites with the acquisition of Cinema City International (CCI), which runs 99 cinemas in East Europe and Israel, for £503m
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NewsTRG: Trading, expansion, economy
M&C Report talks to The Restaurant Group (TRG) chief executive Andrew Page about the trading environment, its 2014 openings pipeline, the performance of Coast to Coast and the current economic climate. We also round-up the response of the leading analysts to the group’s pre-close trading update
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News
FY EBITDA up 5% at Gusto and Blackhouse
Gusto and Blackhouse, the Living Ventures-owned restaurant brands, reported a 5% rise in EBITDA for the year to 31 March 2013 to £2.4m, as turnover climbed 7% to £27.3m
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NewsD&M turnover up 2.4%
Drake & Morgan has reported a 2.4% rise in turnover on a like-for-like basis to £4.1m for the three months to the end of June
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News
Cerberus to acquire further pub portfolio
Cerberus Capital Management is understood to be in advanced talks to acquire a 134-strong portfolio of pubs in a deal valued at £200m
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NewsCollyer: Expects buoyant trading updates
A leading analyst has said that private company performances over the festive season underpin trading expectations for listed companies and that he is expecting a “collection of buoyant trading updates”
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NewsEQT plans SSP listing
EQT Partners, the private equity firm behind SSP, is accessing its options for the leading travel concessions operator, with the group tipped for a flotation on the London Stock Exchange toward the second half of this year
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News
NatWest/RBS launch £250m storm fund
NatWest and RBS have launched a £250m UK Storm Business Fund to provide short term, interest free financing to speed recovery for businesses affected by recent floods and gales
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NewsGreggs could make 410 redundancies
Greggs says it could make 410 redundancies by decommissioning in-store bakeries and restructuring its management and support teams, which it says could save the company £6m per year from 2015
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NewsBarburrito founder steps down
Barburrito has said that co-founder Paul Kilpatrick has stepped down from the company to pursue other interests, as it reported a 16% rise in turnover to £4.6m for the year to 31 March 2013
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NewsBrown moves Domino's from Sell to Hold
Leading analyst Wayne Brown has upgraded Domino’s Pizza from Sell to Hold and raised his Target Price for the company following its Q4 results yesterday where it reported a 10.9% rise in UK like-for-like sales for the 13 weeks to 29 December
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NewsFY lfls up 3.5% at TRG
The Restaurant Group (TRG), the operator of Chiquito and Frankie & Benny’s, has said that its like-for-like sales were ahead by 3.5% in the 52 weeks to 29 December 2013, with turnover 9% ahead of the previous year
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News
Pre-tax losses widen for A to Z Restaurants
A to Z Restaurants, the trading name of the four-strong London Fine Dining Group, saw pre-tax losses widen from £874,000 to £1.1m in the year to 31 March 2013
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Losses narrow for IRC parent
The parent company of Individual Restaurant Company (IRC), the operator behind the Piccolino and Restaurant Bar & Grill formats, saw losses narrow in the year to 31 March 2013 as turnover grew 31.7% to £55.3m
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News
Ministry of Sound noise deal 'sets precedent'
The boss of the Ministry of Sound nightclub has welcomed a landmark agreement over noise in relation to a new property development, stating it will “set a precedent” for how new housing and existing businesses can live together
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NewsArkell's profits fall in 'challenging' year
Arkell’s, the Wiltshire-based brewer and pub operator, saw profits before exceptional items and tax fall 21% to £1.4m in the year to 31 March 2013
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News
Lfls up in excess of 8.5% at Rex Restaurants
Rex Restaurants, the company led by Jeremy King and Chris Corbin, saw like-for-like sales increase in excess of 8.5% in the nine months to December 2013, driven by a combination of increases in covers and average spend
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NewsFestive trading update part 2
La Tasca, ETM Group and Tortilla are the latest companies to talk to M&C Report about their performance over the festive season.
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News
Butcombe PBT falls 58.5%
Butcombe Brewery has reported a sharp fall in full-year profits and says it’s taking action against its legal advisors in relation to costs incurred to enact a break clause on a pub lease
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News
Jack: Spirit’s outperformance to have continued
A leading analyst has said that he expects Spirit Pub Company’s outperformance against the sector to have continued over the last 12 weeks