Finance – Page 34
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NewsBusaba swings to a loss
The Thai restaurant business said trading over the year to 18 September 2022 was strong, with 2% like-for-like sales growth, but increased costs saw it record a post-tax loss of just over £3m.
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NewsBritain forecast to avoid recession this year
KPMG no longer expects a recession in 2023, instead forecasting that GDP will increase by 0.3%, but economists have said both businesses and consumers will still be in for a tough year.
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NewsPizzaExpress claims it’s on surer financial footing
The restaurant chain has said its debt levels have significantly improved in recent years and are now half of what they were under the previous ownership.
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NewsFulham Shore takeover deal voted through
Toridoll’s £93.4m acquisition of the Franco Manca and The Real Greek operator was approved by Fulham Shore’s shareholders at a Court Meeting and General Meeting, held on Friday.
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NewsNightcap acquires Dirty Martini in £4.65m deal
The late-night bar operator has entered into an asset purchase agreement to acquire Dirty Martini’s 10 bars, as well as Tuttons Brasserie in a pre-pack deal
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NewsBrewDog bars help drive 20% sales growth in 2022
Its new flagship Waterloo and Las Vegas sites have performed above expectations and offer a clear example of how it sees its bar estate evolving, CEO James Watt said.
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InterviewsImbiba ‘obsessed’ with the longevity of experiential leisure
Managing partner Darrel Connell tells MCA that, like casual dining, experiential leisure concepts must update and evolve to remain relevant to consumers
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NewsJames Watt invests in Clean Kitchen Club
The BrewDog CEO and co-founder has revealed he is an investor in the plant-based QSR concept, which has plans to open several larger format central London sites this year.
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NewsAdnams reports £1.2m operating loss for FY22
Despite significant pressure on its underlying cost base, the business reported a £7m rise in revenue to £64.2m, and a positive EBITDA of £2.7m for the period.
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NewsComptoir Group: ‘We have an extremely strong base from which to leverage growth’
The Lebanese restaurant group is close to completing on a site in greater London, and is in discussions with new franchise partners to open up access to other travel hub and leisure locations
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NewsHostmore sees further fall in like-for-likes
In a trading statement to accompany the group’s AGM today, the TGI Fridays operator reported a 3% decline in like-for-like sales for the 22 weeks to 4 June 2023 – down from -1% in the first 16 weeks.
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NewsCity Pub achieves 20% sales uplift; secures majority shareholding in Mosaic
The group reported a like-for-like sales increase of 13% for the first 23 weeks ended 4 June 2023, which it said would have been higher had it not been for the impact of the rail strikes.
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NewsPapa John’s takes 91 UK sites in-house
Establishing a corporate-owned restaurant portfolio is part of a strategy by the pizza group to reposition its UK portfolio and drive “above average” growth in the market
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NewsDomino’s completes sale of German associate
The pizza group received proceeds of £79.9m, which will be flowed through its capital allocation framework
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NewsYard Sale Pizza explores options
The brand has appointed Will Baxter and Payam Keyghobadi of Dow Schofield Watts, who advised the transactions of Banana Tree, Rosa’s Thai, Mowgli and Giggling Squid
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NewsBillionaire Issa brothers use Asda’s assets to fund petrol station takeover
The brothers are using the supermarket chain’s assets to slash the debts in their forecourts business, The Sunday Times reports
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![Sky Garden Rhubarb[86]](https://d36hgjhwuw81py.cloudfront.net/Pictures/100x67/3/2/5/295325_skygardenrhubarb86_224731.jpg)
NewsRhubarb acquired by Oak View Group
The deal for the high-end restaurant, bar and catering company is aimed at transforming the F&B at Oak View’s arenas, stadiums, and live entertainment venues in the UK and around the world
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Analysis & InsightM&A deals fall to seven-year low
The total value of mergers and acquisitions involving UK companies more than halved in the first five months of this year, to $89bn, according to the London Stock Exchange Group
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NewsPizza Union looks to expand
The Bobby Hashemi-led Roman pizza bar is negotiating on new sites in central London, with sales up 43% year-on-year
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NewsKokoro sees profits down
The c70-strong Korean-Japanese QSR concept has cut back on its openings programme amid inflationary pressures but continues to expand, albeit at a slower rate