Finance – Page 292
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NewsIntertain FY EBITDA grows 7.9%
The Walkabout operator has reported a 60% rise in pre-exceptional operating profit in the year to 2 February, with EBITDA up 7.9% to £5.3m, as it saw the benefit of its estate investment programme and surrender of leases on unprofitable sites
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NewsBrakspear: Results, appointment, managed, disposals
Brakspear has an intention to expand its fledgling managed estate and has appointed former tenanted BDM Matt Aket to oversee the company-run pubs, CEO Tom Davies has told M&C Report as it announces a rise in full-year profit and turnover
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Euro 2012 comps hit Carlsberg
Carlsberg has reported a 5% fall in organic beer volume across Western Europe in the six months to 30 June, citing tough comparisons with last year’s Euro 2012 football tournament
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Aqua secures new funding
Aqua Italia, the premium Italian restaurant chain, has opened its fifth site in Portishead after securing new bank funding
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Elysium Group eyes rollout
Elysium Group, the Essex-based restaurant and bar operator, is looking at opportunities in London, after securing new funding from Natwest and securing its sixth site
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Heineken H1 organic volumes fall 1%
Heineken, the global brewer, has reported a 1% decline in organic volumes in H1 and said it does not expected underlying trading conditions to change despite benefiting from better weather across Western Europe in July
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Cineworld may have to sell cinemas
Cineworld may be forced to sell cinemas in three areas of the country after the Competition Commission provisionally concluded that its acquisition of City Screen would mean higher prices for customers
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NewsJimmy’s World Grill explores options
East and West Restaurants is in talks with advisers as it explores options for its expanding Jimmy’s World Grill & Bar chain, after receiving private equity approaches, M&C Report understands
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NewsYO! seeing consistently strong lfls
Trading across YO! Sushi, the Quilvest-backed, Robin Rowland-led chain, this year has been a strong improvement on a “flat 2012”
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OpinionFrench raises Spirit TP
Leading sector analyst Simon French has “strongly reiterated” his Buy recommendation for Spirit Pub Company and raised his Target Price for the firm from 93p to 110p
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NewsCote deal on-going
Cote remains in discussions with private equity group Bridgepoint regarding a c£100m sale, despite speculation that the deal has been “parked” until later this year
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Aston Manor reports strong profit and sales growth
Aston Manor Brewery, the Birmingham-based cider maker, saw pre-tax profits rise from £1.6m to £2.7m in 2012 as it reported a sixth successive year of double-digit growth
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Jack: TRG will be weaker in H2
Leading analyst Douglas Jack has predicted that H1 results for The Restaurant Group (TRG) will be stronger than in the second half, which would have been hit by the good weather and tough comparatives
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NewsRollo: Costa performance to be weaker
A leading analyst has said that he expects Whitbread to report a 3% increase in like-for-like sales growth in its second quarter
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Rollo: Enterprise share price can double
A leading analyst has said that if improving pub trends, growing financing availability for its non-core pub disposals, and a robust economy combine to drive increased market confidence in Enterprise Inns’ asset value, the company could see its share price double
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NewsAnalyst corner
Jamie Rollo at Morgan Stanley looks ahead to the full-year results update from JD Wetherspoon, which is due on 13 September. He says that he is encouraged by signs of operating margin stabilisation but thinks the share price fully reflects JDW’s position for now
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NewsM&C20 underperforms against the FTSE
The M&C20 underperformed against the FTSE All Share this week as both lists experienced a decline. The FTSE All Share was down just under 15 points, or 1.5%, to 1,000.78 this week, while the M&C20 fell by 24 points, or 2.1%, from 1,157 to 1,123.
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Cineworld H1 PBT up 24.1%
Cineworld, the UK’s largest cinema operator by market share, has reported a 24.1% increase in pre-tax profit rose 24.1% for the 26 weeks to 27 June rose to £16.5m
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Fulham Shore confident in the year ahead
Fulham Shore, the new restaurant venture from ex-Clapham House Group chairman David Page, has reported a loss of £125.2k for the year to March 2013
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Gross margins fall 14.3 pps since 2007
Leading analyst Simon French estimated that theoretical gross margins for operators have fallen by 14.3 percentage points since 2007, with food inflation cited as a reason