Finance – Page 281
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NewsCollyer raises JDW lfl forecast, warns on margin
Leading analyst Geof Collyer has raised his FY like-for-like forecast for JD Wetherspoon from 2% to 3% but accused the managed operator of “yet again chasing sales at the expense of margin”, with “little if any underlying profit growth”
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NewsBrewDog extends latest fundraising after “epic” response
BrewDog, the Scottish brewer and pub operator, has extended the limit set for its crowdfunding scheme, Equity for Punks, after an “epic response” to thefundraising so far
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NewsRollo: Costa’s international business not proven
A leading analyst has said that Costa is nearing critical mass in the UK with Starbucks’ US density suggesting 2,000 outlets might be the chain’s natural UK limit
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Darwin & Wallace closes in on second site
Imbiba Partnership, the investment vehicle led by John Connell, is closing on a second site for its fledgling Darwin & Wallace (D&W) format, as it gears up to launch its third round of fundraising
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C2 reports FY PBT loss
A co-founder of C2 Investment, which owns 76% of Lancaster Brewing Company, has criticised the “madness” of progressive beer duty (PBD) as the business sees its pre-tax profit turn into a pre-tax loss in the year to 31 January
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NewsFrench raises Whitbread TP but says it's 'still overvalued'
Leading analyst Simon French has raised his Target Price for Whitbread but said the leisure group is “still overvalued”
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NewsFrench holds JDW forecast
Leading analyst Simon French has reiterated his Buy recommendation and 806p Target Price for JD Wetherspoon following the managed operator’s Q1 results yesterday
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NewsJDW secures £100m expansion fund
JD Wetherspoon has secured an extra £100m facility for its expansion plan, chairman Tim Martin has told M&C Report
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Ideal launches new build Boat House Cafe
Ideal Collection is opening its seventh site in Chichester, West Sussex next week (15 November)
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NewsJDW raises openings target; Q1 lfls rise 3.7%
JD Wetherspoon, the managed pub operator, has increased its full-year openings target to between 40 to 50 as it reported a 3.7% rise in like-for-like sales in the 13 weeks to 27 October, with a slight dip in operating margin
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NewsThwaites H1 PBT grows 24.5%
Daniel Thwaites, the Lancashire brewer and pub operator, saw pre-tax profits rise 24.5% to £4.9m in the six months to 30 September and said it has witnessed an improvement in consumer confidence
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NewsCollyer: Muted lfl growth at JDW expected
A leading analyst has said that he expects JD Wetherspoon to report muted like-for-like growth when it updates on first quarter trading tomorrow and that he continued to believe the key for the company is to deliver margin improvements and grow the FCF and dividends
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NewsPunch gears up for restructuring
Punch Taverns has said it will announce a revised restructuring proposal during the first week of December 2013 with the broadest level of support achievable at that time and will then formally launch the implementation of that restructuring proposal shortly thereafter
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NewsSpirit completes refinancing
Spirit Pub Company has announced the results of its debt re-profiling, achieving its desired target of securing participating levels of 70% for A1 bondholders and 50% for A3 bondholders, which should free up c£53m of cash for expansion
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Tokyo Group targets acquisitions
Tokyo Group, the bar and nightclub operator led by Aaron Mellor, says it’s targeting further acquisitions during the current financial year
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3Sixty ends sale talks
3Sixty Restaurants, the group led by James Horler and backed by Luke Johnson, has terminated sale talks because it did not believe that the figures put forward reflected its current performance
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NewsFrench: Extension of opening hours at JDW will be a success
A leading analyst has said that JD Wetherspoon’s decision to extend is food serving hours to 11pm will prove another successful strategic move at a time of “ongoing flux amongst the competition”
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NewsAnalyst corner
Jamie Rollo at Morgan Stanley looks to ahead to the full year results from Enterprise Inns, which are due on 19 November
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Friska receives funding boost
Friska, the Bristol-based healthy fast-casual restaurant chain, plans to open an additional three sites over the next two years, after securing new funding
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NewsM&C20 underperforms against FTSE
The M&C20 suffered a decline this week, down 1.2% to 1,149.95 - a fall that wiped £127m off the value of the 20 companies represented in the index