Finance – Page 53
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NewsTen Entertainment sees sales +50%
The bowling and family entertainment centre group achieved a 52.6% increase in total sales for the 26 weeks to 26 June 2022, compared to 2019 figures
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NewsOakman trading up 11% in June
However as a result of challenges with staffing and restricted trading, the pub group estimates it has lost around a further 2-3% of growth
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NewsYoung’s reports excellent trading as Dardis steps down
The premium managed pub company reported trading was up 34.9% on a like-for-like basis in the first 13 weeks of the year
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NewsGusto Italian reports ‘resilient results’
The premium casual dining group reported a resilient performance in the year to September 2021, with a turnover of £12.3m
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NewsPret reports H1 revenue up 230% on 2021
The food to go brand said regional sales had outstripped growth in the capital on a like-for-like and total revenue basis, with the group returning to profit in March
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NewsStonegate places 75 pubs on the market
The package of former Ei Group freehold pubs has been valued at up to £100m, with the sites located across England and Wales
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NewsCut to VAT proposed by No 10
The suggestion to temporarily reduce the level from 20% is said to have come from the prime minister’s chief of staff Steve Barclay, but it’s understood the Treasury is “not buying it”
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NewsHeavitree performance on par with 2019
The Exeter-based pub company has returned to profit, after an “intensively difficult” trading environment during the pandemic
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NewsShepherd Neame sees strong like-for-like trading
The family brewer and pub operator said it had performed well with encouraging demand. Like-for-like sales in its pubs and hotels division were up 13% in the six weeks to 25 June 2022, but its central London pubs are yet to make a full recovery
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NewsBrewDog eyes blockchain
The craft beer company is working with digital finance platform Globecap on controversial options for investors to “tokenise” their equity
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NewsUK economy at risk of going into recession
Soaring inflation could tip the UK economy into a “mild recession” next year, according to KPMG, with GDP forecast to more than halve in 2022
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NewsPatisserie Valerie ex-chairman in line for payout
Luke Johnson set to benefit as Grant Thornton settles £200m court case over coffee chain’s collapse, reports The Telegraph
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NewsTasty repays bank loan early
The Wildwood operator has done away with its £1.25m facility with Barclays, and believes it is in a strong position to open five to six new sites in 2022, with one currently under offer
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NewsCosta franchisee acquires 17 sites
Altrincham-based Sim Trava, which now has 57 Costa sites, made the additions to its portfolio with the support of a £7m funding package from HSBC
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NewsVarious Eateries reports ‘resilient trading’
The Coppa Club operator reported half year group revenue of £17.8m, with a loss after tax of £2.6m
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NewsMegan’s to handout £5m staff bonus
Megan’s has set aside the bonus to reward staff members for their hard work and contribution to its Retailers’ Retailer Award win earlier this year.
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NewsInterest rates set to reach 3%
The Bank of England’s interest rate could reach as high as 3% by the end of the year, as measures are ramped up to fight inflation.
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NewsPunch shows interest in Amber Taverns acquisition
Punch Pubs & Co is exploring a potential takeover of Blackpool-based pub company Amber Taverns, alongside interest from several other pub companies, Sky News has reported.
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NewsMcMullens turns a profit despite challenges
In the current financial year, the family brewer has opened new pubs in Whitehall, Cambridge, Milton Keynes and is currently developing a new site in St Albans.
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NewsCapco and Shaftesbury agree to merge
The combined portfolio, located in some of the most “iconic” areas of London’s West End, will be valued at around £5bn, with just over a third of this in hospitlaity and leisure