Finance – Page 48
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NewsJollibee to maintain UK openings programme
The Filipino fast food chain recorded a loss of £4m in the UK last year, with VP market head for Europe, Adam Parkinson recently stepping down from his role
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NewsBrewDog Retail reports revenue growth
The brewer and operator’s retail division reported turnover of £36.9m, up from £25.2m in 2020 but behind pre-pandemic levels
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NewsCity Pub launches share buyback programme
The 40-strong pub group has commenced a share buyback programme, in respect of its ordinary shares of 1p each, as referenced in its interim results last month
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NewsBurger & Lobster achieves 40% rise in revenue
The nine-strong London restaurant group achieved EBITDA of £1.8m in the year to 2 January 2022 and said it was actively looking for new sites in the UK and overseas
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NewsRare Restaurants’ owner turns around £11m loss
Parent company Lomo Topco has announced turnover for the group, which operates Gaucho and M Restaurants, of £53m for the 53 weeks to 2 January 2022, up from £29.6m in 2020
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Analysis & InsightFive Guys boosts UK profits
Five Guys has reported a 45% increase in revenue within its UK business, to £237.3m for the year to 31 December 2021,with profit after tax of £26.2m - up from £1.8m the prior year.
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NewsGreggs continues to trade well despite challenges
Like-for-like sales in company-managed shops rose by 9.7% when compared with the same period in 2021
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NewsRevenue up but pre-tax profit down at Tortilla
The fast-casual Mexican restaurant business reported strong like-for-like sales in the first half of FY21 and into the summer, despite the impact of the heatwave and rail strikes
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NewsBurger King UK to acquire 74 franchise restaurants
The business, which has secured £110m in fixed-term financing, is to indirectly acquire the sites from its second largest franchise partner, through the acquisition of the Karali Group.
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NewsMcDonald’s Restaurants see strong profit uplift
The UK business achieved profit after tax of £113m for the year to 31 December 2021, compared to a loss of £19m in 2020, with like-for-like sales up in 2022
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NewsPub and restaurant groups see share value plummet
Escalating energy costs combined with the impact on the economy from the government’s mini-budget has sent share prices tumbling further down
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NewsIncipio achieves ‘all-time high’ turnover
The bar group recorded turnover of £14.9m for the 52 weeks to 26 December 2021, compared to £6.3m in 2020, and remains commmited to expansion within Greater London
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NewsDowning acquires The Pub People Group
The investment manager has acquired the group and merged it with its existing investment in Autumn Pubs, with a view to expanding the combined business
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InterviewsDavid Campbell: PizzaExpress restructure ‘great for everyone’
The former CEO discussed the turnaround job at the casual dining chain at MCA’s Restaurant Conference
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NewsMitchells & Butlers: food sales continue to drive growth
Like-for-like sales rose significantly for food but dropped for drink, with an overall decline of 0.9% compared to 2019
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NewsIvy revenues surpass £200m
The restaurant group achieved a turnover of just over £200m, up on £198.7m in 2019, and plans to open seven new sites this year
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Analysis & InsightAlixPartners: ‘Underlying dynamics of hospitality remain strong for investors’
Despite short-term disruption, the sector should focus on the longer-term positive outlook, MD Graeme Smith told delegates at MCA’s Restaurant Conference
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NewsJust Eat expects earlier return to profit
Due to progress in improving profitability, the delivery platform expects to generate positive adjusted EBITDA in the second half of 2022
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NewsShepherd Neame reports return to profit
The 300-strong pub operator has announced it will seek investment and acquisition opportunities following significant revenue growth
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NewsArc Inspirations plans to double business
The premium bar operator announced plans to double the size of its business in the next three to five years, following strong sales in the year to 31 March 2022