Finance – Page 273
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News
Tynemill reports steep fall in FY profits
Tynemill, the East Midlands brewer and pub operator that trades as Castle Rock Brewery, saw pre-tax profits fall from £314,700 to £75,000 in the year to 31 March, a period the group called “particularly challenging”.
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Jack upgrades Domino's UK forecast, expects German losses to mount
Leading analyst Douglas Jack has upgrading his UK forecast for Domino’s Pizza after the company reported a 10.9% rise in like-for-like sales in the country in Q4, although he increased his 2013 losses forecast for Germany from £6m to £7.8m
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NewsDomino's UK lfls grow 10.9%
Domino’s Pizza has reported a 10.9% rise in like-for-like system sales in UK mature stores on the 13 weeks to 29 December - “partly driven by increased digital marketing activity and more favourable timing of the Christmas break compared to last year” - and said it will transfer 13 of its 15 corporate stores in Germany to franchises
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Chinese group secures Ram Brewery
Chinese group Greenland has made its first investment in the UK after securing the Ram Brewery in Wandsworth from Minerva for a total investment of £600m
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Original Bowling Co FY EBITDA grows 7%; festive lfls rise 8.4%
The Original Bowling Company (TOBC), the 44-strong Hollywood Bowl operator, has reported a 7% rise in EBITDA after central costs in the year to 30 September and saw an acceleration in like-for-like sales growth over the festive period
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Former Buddha Bar site to become events space
The former Buddha Bar at London’s Victoria Embankment has been acquired by to One Embankment Ltd for £3.9m and will be operated by Hammer Holdings alongside its One Mayfair and One Marylebone locations
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NewsOakman FY lfls rise 14.5%; losses widen
Oakman Inns and Restaurants, the Hertfordshire-based group led by Peter Borg-Neal, has reported a 14.5% rise in like-for-like sales in the year to 31 March as turnover grew 18.8% to £9m
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All Our Bars Christmas lfls rise 2.4%
All Our Bars, the Kent-based multiple pub operator led by Paul Wigham, has reported a 2.4% rise in like-for-like sales over Christmas but said it could have been better if the weather had been more favourable
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NewsRollo: Spirit one to avoid
A leading analyst has chosen Spirit Pub Company as one of his four stocks to avoid in 2014
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NewsCaffe Nero announces refinancing
Caffè Nero, the Gerry Ford-led Italian coffee chain, has announced that it had agreed a new debt financing package to support its “strong growth objectives”
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French upbeat on Domino's, TRG and Greggs
Leading analyst Simon French has reiterated his Buy recommendations for Domino’s Pizza, Greggs and The Restaurant Group (TRG), which all report trading updates this week
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News
Trust Inns PBT grows 6.8% in 'satisfactory' year
Trust Inns, the tenanted pub operator, saw pre-tax profits grow 6.8% to £2.3m in the year to 31 March.
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NewsLoungers eyes Cosy Club expansion; December lfls rise 8.6%
Loungers, the Piper-backed cafe bar operator, says its Cosy Club concept has the potential to expand to at least 70 sites, on top of at least 250 potential Lounge outlets
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FY PBT increases at Pieminister
Pieminister has reported a near 40% increase in pre-tax profit for the year to 31 March 2013, up from £385k to £634k, while turnover climbed from £8.3m to £8.9m
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News
Greek investor acquires Camden Barfly
A private Greek investor has acquired the freehold of iconic London music venue, the Camden Barfly, from property company Solitaire Group for £3.8m – a 5.5% yield
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Analyst corner
Leading analyst Nicholas Batram of Peel Hunt looks ahead to forthcoming trading updates from Domino’s, The Restaurant Group (TRG), Spirit Pub Company, JD Wetherspoon, Mitchells & Butlers (M&B) and Cineworld
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NewsM&C20 outperforms FTSE as majority provide returns
There was little movement in share prices over the new year across the M&C20 Index as it again outperformed the FTSE All Share Index, though Domino’s staged a mini-recovery (up 3.6% to 514p) and Essenden enjoyed quite a leap (up 9.1% to 36p)
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NewsJack: TRG capable of sustaining double-digit growth
Ahead of its full-year trading update next week (9 January), a leading analyst has said that The Restaurant Group (TRG) should be capable of sustaining double-digit earnings growth over the medium-term, whilst paying off almost all its debt
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News
Palmers PBT falls 19.4%
Palmers, the Dorset-based brewer and pub operator, has reported a drop in profits and turnover in the year to 31 March 2013 as it suffered from poor weather and the Olympic “stay away factor”
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NewsVarsity Bars targets growth
Varsity Bars, a new company that last month secured 18 former Bramwell Pub Company venues, is targeting an estate of 30 sites and will look to diversify the retail offer, operations/area manager Christian Kent has told M&C Report