Finance – Page 38
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NewsJust Eat makes progress on profitability
The delivery company’s Q1 2023 update saw a decline in orders and gross transaction value, attributed to a year-on-year comparative with the pandemic
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InterviewsCity Pub Group gears up for economic uptick
The premium pub company sees “good opportunities” in the market for pub acquisitions, but is primarily focussed on organic growth within the existing estate, CFO Holly Elliott tells MCA
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NewsHakkasan and Yauatcha owner acquired for $550m
Investment group Mohari Hospitality has bought Madison Square Garden Entertainment’s majority share in Tao Group
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NewsCity Pub Group confident in coming year
Like-for-like sales were up 3% in FY2022 and 13% in Q1 FY2023, with the 43-strong pub operator focusing on premiumisation and increasing its investment in Mosaic
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NewsP.F. Chang’s UK acquired by Pizza Hut franchise
Zaf Holdings has acquired the P.F. Chang’s flagship UK site in Leicester Square and the master franchise rights in the UK
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NewsBidders vie to snap up Subway for $10bn
Bain Capital, TPG Capital, EG Group and the owner of Dunkin’ are among the firms linked to the sandwich franchise
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NewsSubway deal value see $3bn fall
The sale price of the global sandwich chain could be cut from $10bn to $7bn as a lack of interest from prospective buyers has forced it to push back bidding deadlines, it has been reported.
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NewsBlack Sheep Brewery considers potential sale
The Masham-based brewer and pub operator has appointed a financial adviser to assess its options, including the potential sale of the business.
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NewsBrasserie Bar Co has strong pipeline of freeholds
The group, which achieved ‘record-breaking’ sales in the year to 26 June 2022, has since acquired three new freeholds with a big pipeline of further sites on the horizon
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NewsState of Play posts £11.2m loss
During the period to March 2022, the experiential leisure group secured £27m in new funding, plus a subsequent £8.5m, to finance its expansion
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NewsSushiDog secures growth capital
The sushi roll QSR concept has secured £500,000 from Middleton Enterprises to further expand in the capital
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Analysis & InsightFulham Shore: ‘Too tempting an offer to refuse’
The cash offer on the table may not price in Fulham Shore’s full potential, but the acquisition by Toridoll represents a good deal at a time when the restaurant sector is not yet back to full strength
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NewsFulham Shore announces record revenue
Fulham Shore has provided a trading update ahead of its results for the year ended 26 March 2023, with a record revenue of £100m driven by new openings
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NewsWahaca focused on recovering restaurant volumes
The Mexican restaurant group recorded net profit before tax of £3m in the year to 26 June 2022 and said love for the brand remained strong.
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NewsParogon Group to accelerate expansion
The 10-strong pub and restaurant operator, which plans to open 10 new sites by 2025, has reported a £23.8m turnover for the year to June 2022
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NewsOakman benefiting from Chef Academy
The group said it now has the necessary employee resources to continue its growth plans thanks to the development of its Academy, with a Level 2 course due to launch later this spring.
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NewsPrezzo posts significant loss despite strong H2 performance
The Italian restaurant brand recorded a total statutory loss for the year to 2 January 2022 of £22.4m, but said that it had returned to profitability in the second half of the period
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NewsMegan’s reports strong trading ahead of 20th opening
Megan’s is on track to deliver sales growth of 70% in its current financial year, according to finance director Gill Clements.
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NewsOakman Group: ‘Concerns about inflation and taxation persist’
When adjusted for VAT, total sales were 17% up and lfl sales 6.9% up in the first 38 weeks of FY2022/23, with work commencing on two new sites
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NewsRunning a pub ‘is worse now than it was during COVID’
A potential 82% rise in energy bills could mean last orders for many pubs struggling to survive, Sky News reports