Finance – Page 36
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NewsGreggs reports ‘continued strong trading’
Despite ongoing pressure on consumers, the company remains confident its “outstanding value proposition continues to be compelling”
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NewsLosses at Gordon Ramsay restaurants narrow sharply after Covid rules eased
Sales more than tripled in latest accounts but food and energy inflation kept group £1m in the red, The Guardian reports
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NewsGordon Ramsay Restaurants planning Bread Street expansion
The group reported strong sales in the year to August 2022 with a loss of £0.5m, with plans to expand its Bread Street Kitchen brand
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NewsPunch sees half year revenues up, but profits down
The group has reported an uplift in revenue to £158.1m for the 28 weeks to 26 February 2023, with a stronger performance in the second quarter compared to 2022
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NewsWendy’s focuses on drive-thrus to build UK footprint
Wendy’s first UK drive-thru is performing ahead of expectations, with the format being a key driver for its growth, according to CEO Todd Penegor
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NewsTRG’s largest shareholder ‘remains supportive’
Columbia Threadneedle Investments, which owns a c16.7% stake in The Restaurant Group, issued a short statement in support of the company after criticism from activist investors
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NewsComptoir Group posts strong recovery
Revenue was up nearly 50% to £31.7m, with the Lebanese restaurant chain continuing to focus on franchising in the UK and internationally
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NewsJDW reports record sales
The pubco has seen like-for-like sales up 9.1% in the 13 weeks to 30 April 2023, compared to pre-pandemic, along with its busiest ever Saturday in May
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NewsUrban Pubs & Bars confident it can ride out the storm
The group has seen strong like-for-like trading of +13% in FY22/23 and is actively looking for additional sites to add to its London-based pub, bar and restaurant estate
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NewsPub shares tipped for a royal boost from the Coronation
Analysts predict Fuller’s, Mitchells & Butlers, J.D. Wetherspoon and Fever Tree will do well out of the special Bank Holiday weekend
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NewsAnger over Hornby’s pay mounts
The activist investor seeking an overhaul at The Restaurant Group has won the backing of an influential shareholder advisory group in protesting at chief executive Andy Hornby’s pay package, The Times reports
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NewsSSP expands into US with Midfield deal
The acquisition will add $100m ((£79m) to the travel concession group’s top-line revenue
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NewsNQ64 secures £10m facility for share buyback and expansion
The arcade bar operator has secured support from alternative lender ThinCats to buyback Imbiba’s minority shareholding
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NewsDomino’s achieves strong like-for-like growth
The pizza delivery business reported like-for-like sales growth of 10.7% for Q1 2023, excluding the change in the VAT rate, with momentum continuing in the second quarter. On the back of continued confidence it has announced a new £20m share buyback programme.
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NewsKFC UK & Ireland grows share of sales
Yum! Brands’ UK KFC business now accounts for 7% of all systemwide KFC sales - up 5% in the first quarter ended 31 March 2023.
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NewsBlack Sheep Coffee planning 70 new openings over next year
The coffee shop business has been expanding its franchise business, with upcoming openings at UK airports and achieved positive adjusted-EBITDA for Q1 in 2023
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NewsRestaurant Brands International reports strong global sales growth
The Canadian-based restaurant group, which operates Burger King, Tim Hortons, Popeyes and Firehouse Subs, reported global like-for-like sales were up 10.3% in Q1 2023
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NewsBlack Sheep Brewery to appoint administrators
The North Yorkshire brewer and pub operator has been unable to secure new investment after being hit hard by the pandemic and rising costs
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NewsPrezzo braces for landlord showdown over restaurant closures
Prezzo’s restructuring plan will be voted on by creditors later this month after it announced the closure of a third of its 143 sites, Sky News reports
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InterviewsNick Mackenzie: We don’t need more acquisitions to improve food
The Greene King CEO hailed a solid financial performance against a very difficult backdrop, with profits up and customers returning to pubs