Finance – Page 55
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NewsFoodsteps raises $4.1m to grow platform
The seed round will fund the expansion of the food tech startup, which allows businesses to measure and improve on sustainability
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NewsSSP sees ‘significant rebound’ in travel sector
In the UK, sales are back to around 82% of pre Covid-19 levels, with the air sector boosted by strong leisure demand, and the rail business helped by the return of commuters in increasing numbers
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NewsTRG sees robust trading at Wagamama and Pubs
The group believes the performance and recovery at Concessions will offset the impact of inflationary pressures
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NewsChilango acquired for £2.75m
Tortilla intends to retain and continue to operate the Chilango brand at certain locations and via delivery in a number of Tortilla sites
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NewsL&G turns up the heat on McDonald’s over antibiotics
The asset manager is piling pressure on McDonald’s over its use of antibiotics in industrial farming, the Mail on Sunday reports
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NewsOutgoing Dardis toasts strong Young’s results
The premium managed pub operator is “firmly back in business” with profit before tax of £41.8m
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NewsFood props up sliding drink sales at M&B
Mitchells & Butlers reported like-for-like growth of 1% in the 28 weeks to 9 April 2022, versus FY19, with encouraging signs of sales recovery in its city centre sites
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NewsC&C sells stake in Admiral Taverns
The Bulmers supplier disposed of its minority interest in the pub company for £55m to Proprium Capital Partners
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NewsBank of England warns of ‘apocalyptic’ food price rises
Prices are rising at the fastest rate in 30 years, with a risk of double-digit inflation before the end of the year, Bank of England governer Andrew Bailey told MPs
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Analysis & InsightNumber of PE deals double in leisure space
UK-only businesses have been trading at a discount to their international peers, so have become particularly attractive to PE funds, global law firm Mayer Brown reports
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NewsGreggs achieves 27% lfl rise
The food to go retailer said sales in larger cities and office locations continued to lag behind the rest of the estate but that transport hubs had shown a marked increase in activity in recent weeks
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NewsWendy’s UK achieves ‘solid results’ in Q1
CFO Gunther Plosch reiterated plans to reach 50 to 60 restaurants in the UK by the end of this year, with the growth coming from a combination of company restaurants and delivery kitchens
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NewsSt Austell Brewery returns to profit
CEO Kevin Georgel said the business experienced “unprecedented levels of demand” following lockdown, achieving underlying operating profit of £11.3m for the 52 weeks to 1 January 2022
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Analysis & InsightDelivery fees could provide respite for Domino’s
The majority of franchisees are now charging fees ranging from 99p to £2.50 but it is unlikely to have a major impact on demand, analyst Berenberg believes
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NewsWingstop: ‘UK market is blueprint for success’
President and CEO Michael Skipworth has said its success in the UK was a “clear demonstration of the power of our international growth strategy”, with 15 UK openings slated for 2022
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NewsKFC UK & Ireland sees sales up 7%
Parent company Yum! Brands said sales within its KFC UK & Ireland division made up 8% of the global fast food chain’s overall revenue in the first quarter ended 31 March 2022
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NewsCreams CEO to step down as Pistachio Holdings increases share
The reshuffle in ownership structure will see Adam Mani take up the role of chief innovation officer, while Balal Aqil will become an advisor
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NewsWetherspoon faces ‘considerable pressure on costs’
The pub company reported like-for-like sales in Q3 were down 4%, though said sales were improving
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NewsGreene King returns to being cash generative
Group revenue at the pub company and brewer rose by 41.6% to £1.34bn for the 52 weeks to 2 January 2022, however it recorded an overall loss before tax of £113m for the period.
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NewsBillionaire Asda owners in talks to sell £13bn forecourt empire
Zuber and Mohsin Issa in discussions with Canada’s Couche-Tard about EG Group merger