Finance – Page 277
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Greene King sets out Retail success factors
Greene King said that the continued success across its Retail division was driven by seven key factors
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NewsAB InBev UK swings into profit
AB InBev UK turned around a loss to report a pre-tax profit of £13.4m in the year to 29 December 2012 and revealed that retail sales of its Stella Artois Cidre Apple brand reached £59.9m in the period
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Bathams PBT falls 4.8%
Daniel Batham & Son, the West Midlands brewer and pub operator, saw pre-tax profits fall 4.8% to £1.3m in the year to 30 June 2013
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NewsFrench predicts robust H1 for Greene King
Leading analyst Simon French has reiterated his Hold recommendation and 750p Target Price for Greene King ahead of its half-year results on 3 December, predicting a “robust” performance for the brewer and pub operator
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NewsAnalyst corner
Douglas Jack at Numis says Marston’s is a buying opportunity following its full-year results yesterday, with medium-long term growth prospects “significantly enhanced”
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Liberation sees profit boots from transfers
Channel Islands operator Liberation Group saw a profit boost of £1m after transferring a portion of its managed pubs estate to tenancy
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NewsPing Pong FY losses narrow
Ping Pong, the London-based dim sum chain led by Art Sagiryan, has reported a narrowing of losses in the year to 31 March after it closed three restaurants in the period, which also removed all bank debt
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NewsFrench raises Enterprise Target Price
Leading analyst Simon French has increased his Target Price for Enterprise Inns from 123p to 133p following its full-year results last week
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NewsMarston's: Package disposal, estate plan, menus, lodges
M&C Report takes a closer look at the full-year results for 5 October for Marston’s and talks to Peter Dalzell, managing director of Marston’s Inns and Taverns
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FY lfls up 2.2% across Marston’s P&D estate
Marston’s has this morning reported that total like-for-like sales were up 2.2% across its premium & destination estate for the year to 5 October against the previous year, with growth in the second half year of 4.1%
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NewsMarston's sells £90m portfolio for alternative uses
Marston’s, the brewer and pub operator, has announced that it has disposed of 202 pubs for £90m to NewRiver Retail Limited, a specialist REIT focused on the UK food and value retail sector, which intends to convert the portfolio to alternative uses
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Jack: Marston's disposals mean long term earnings growth
Leading analyst Douglas Jack says he believes Marston’s repositioning of its pub estate should allow it to generate double-digit earnings growth over the long-term, although increased disposal activity led him to cut his pre-tax profit forecast for 2014 and 2015
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NewsMarston's sells 202 pubs for £90m
Marston’s, the brewer and pub operator, has announced that it has disposed of 202 pubs for £90m to NewRiver Retail Limited, a specialist REIT focused on the UK food and value retail sector
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Punch reiterates Sell and TP for Punch
Leading analyst Simon French has reiterated his Sell recommendation and 7p Target Price for Punch Taverns after its “slightly better than expected” trading update
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NewsFrench raises M&B Target Price
Leading analyst Simon French has reiterated his Sell recommendation for Mitchell’s & Butlers (M&B) but increased his target price from 301p to 365p, saying the company is “potentially a compelling turnaround story”
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VAT and loss making sites impact West Cornwall
West Cornwall Pasty Company, the Gresham-backed retailer, has reported a decline in full-year turnover and a widening in pre-tax losses
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Shaftesbury reports 'unprecedented' demand from F&B operators
Shaftesbury says there has been an “unprecedented demand” in its properties from for food and beverage operators, which now account for one third of its income
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Jack issues Hold for Punch after Q1 IMS
Leading analyst Douglas Jack has issued a Hold recommendation for Punch Taverns following its Q1 trading update this morning, saying he expects that the valuation gap to its peers should narrow on successful bond restructuring
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NewsPunch posts 1.4% rise in lfl core estate net income
Punch Taverns, the tenanted and leased pub operator, has reported a 1.4% rise in like-for-like net income in its core estate in the 12 weeks to 9 November, and maintained its view that it intends to announce restructuring proposals in December
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NewsCollyer reiterates Buy for Greene King
Leading analyst Geof Collyer has reiterated his Buy recommendation for Greene King ahead of its half-year results next Tuesday (3 December), saying that the company remains his favourite in the sector