Finance – Page 40
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NewsEG Group’s foodservice business makes ‘good progress’
The Leon owner said the ongoing growth of its foodservice business was supported by an increase in outlets globally
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NewsChopstix acquires Chozen Noodle
The Asian QSR brand has acquired competitor Chozen Noodle for an undisclosed sum, including all 27 of its sites in Motorway Service Areas
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InterviewsAndy Hornby: ‘Pressure from Oasis has no bearing on TRG’s strategic plan’
CEO Andy Hornby tells MCA the strategic plans announced yesterday were “entirely grown from within” and not in response to shareholder disquiet
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NewsDomino’s gains share of takeaway market
The pizza company hailed the reset of its relationship with franchise partners in 2021 as underpinning a strong performance in 2022
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NewsStarbucks boosts sales but sees profits slide
The coffee shop brand saw UK sales exceed pre-pandemic levels, but wage and cost inflation led to a dip in profits
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NewsTRG to offload 35 sites from Leisure division
The Restaurant Group reported a statutory loss before tax of £86.8m, as its leisure division was hit by cost-of-living and inflationary pressures
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NewsGreggs sees opportunity for more than 3,000 sites
The food-to-go operator has reported robust like-for-like trading, with total sales of £1,513m in 2022, and looks to grow through both new openings and channels
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NewsRevolution Bars faces headwinds
The group announced £76m in sales for H1 FY23, with transport strikes, declining consumer confidence, record hot weather, and cost inflation impacting profitability
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NewsThorley Taverns sees revenue double
The Kent-based hospitality company saw turnover increase from £6.7m in 2021, to £13.4m for the full year to 30 June 2022.
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NewsTRG expected to put forward ‘cogent strategic plan’
Analyst Singer has said that while it expects the plan to address the rebuilding of shareholder value and profitability, it does not anticipate radical action
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NewsStarbucks ends speculation about UK sale with £30m investment
The coffee shop chain as ended speculation about a potential sale of its British business, announcing plans to invest millions in the refurbishment of its existing sites and open 100 new coffee shops in the UK.
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NewsEl Mexicana saved in pre-pack deal
John Coverley and Paul Stagg, who founded and operated the brand under the Elmex Group, have acquired parts of the business under Cholco Consulting
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NewsRumours circulate about TRG pub sale
There is speculation that The Restaurant Group could be weighing up a potential sale of its pubs business Brunning & Price following pressure by activist investor Oasis
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NewsPizza GoGo maintains strong trading
The 100-strong pizza chain reported a turnover of £37.3m for the year ended May 2022 and looks to open further locations across the UK
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NewsPho posts return to profit
The Vietnamese chain has posted its first results since the pandemic for the year ended February 2022, with turnover increasing 109.1% to £43.7m
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NewsWendy’s targeting 45 UK restaurants this year
The burger chain intends to “lean in on our strong start” in the UK and Europe, by continuing to grow the UK market alongside traditional franchisees
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NewsCapco sees positive momentum in Covent Garden
The landowner, which is due to merger with Shaftesbury later this month, said F&B was among its highest performing categories in terms of leasing demand
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NewsJust Eat sees some of largest gains in UK & Ireland
Revenue for the UK and Ireland was up 6% to €1.3bn., with adjusted EBITDA “improving significantly” from -€107m in 2021, to +€23m in 2022
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NewsVarious Eateries makes progress amid challenging backdrop
The Coppa Club operator grew revenues to £40.7m but made a loss of £7.2m in 2022 as it invested in new sites
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NewsCornish Bakery lines up new openings
The 51-strong bakery chain has reported a turnover of £20.9m for the year ended May 2022 and aims to maintain its current rate of expansion