Finance – Page 71
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OpinionThinking of expanding? It is a capital idea if you choose the right option
For the last 18 months, the key word in hospitality and leisure has been “survival”. But as we start to get back to some degree of normality, the sentiment has shifted to “opportunity”. We are seeing more and more activity in the sector, with operators now ready to take advantage of the possibilities the pandemic has created.
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NewsDeliveroo grows orders, narrows losses
Deliveroo’s losses narrowed to £104.8m as it continued to invest in growing the delivery company.
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Analysis & InsightThe growing appeal of IPOs
After a Covid-induced hiatus, there have been several IPO announcements this year, with companies such as TGI Fridays, Tortilla, Hawksmoor and Giggling Squid considering their options around going public. Meanwhile several more are believed to be weighing up a listing. How much of this is an opportunistic post-Covid trend? Does it represent a structural shift away from the private equity model? And what are the risks and rewards? Dominic Allport, insight editor, reports.
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NewsDomino’s reaches agreement on Swiss business
Domino’s Pizza Group has reached an agreement to sell its entire shareholding in Domino’s Pizza GmBH – its Swiss business – for a consideration of CHF 0.3m (approximately £0.2m).
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Analysis & InsightOverseas delivery trends are test case for future UK model
Changes to the delivery market in the US and Europe will make “a good test case” for what may happen in the UK, Douglas Jack, research analyst, travel & leisure at Peel Hunt, has suggested.
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NewsDomino’s: Collection and store openings to drive future growth
Domino’s has given more details on its strategic, operational and financial performance following the release of its first half results. While giving an update on the execution of its strategy the importance of driving its collection business was highlighted, something Domino’s sees as providing an incremental growth opportunity. Store openings will continue to be supported by changed franchisee incentives.
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NewsGreggs recovery ‘stronger than anticipated’
Greggs’ half year sales for 2021 were narrowly shy of those of 2019, reaching £546.2m.
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NewsDomino’s ‘strong’ first half sales supported by VAT cut
Domino’s has delivered a “strong” performance for the first half of 2021, aided by reduced VAT, the Euros, an increase in orders and the chain’s own marketing activity. In the 26 weeks to 27 June 2021, UK and Ireland system sales grew 19.6% to £752.3m. Like-for-like system sales, excluding splits were up 19.3% (18.4% including splits). The chain warned that second half growth would be lower due to scheduled VAT increases.
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NewsTriSpan acquires majority stake in Pho; new MD appointed
TriSpan has acquired a significant majority stake in Vietnamese restaurant chain Pho, for an undisclosed sum.
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NewsKFC, Pizza Hut and Taco Bell see sales recover
Yum! Brands – owner of KFC, Pizza Hut and Taco Bell - has reported strong Q2 growth, with KFC UK’s system sales rising 248% compared with the previous year, when many of its stores were shut due to the pandemic.
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NewsShepherd Neame ‘back on the path to recovery’
Shepherd Neame has reported an encouraging resumption of trade, generating cash and profits ahead of expectation.
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NewsMarston’s trading update is welcomed by analysts
Marston’s Q3 trading update has been welcomed by analysts, with Shore Capital describing it as an “encouraging update”, while Singer described it as “highly pleasing.” With limited impact from either cost inflation and pingdemic related labour issues analysts either maintained or upgraded to a buy recommendation.
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NewsMcDonald’s global sales rise during reopening
McDonald’s has experienced strong Q2 growth in global sales, with like-for-like growth in the UK said to be “strong” and “positive”. The fast-food chain is looking to continue the digital sales growth it has experienced during the pandemic and recently launched the MyMcDonald’s Rewards scheme in the US.
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NewsDomino’s set to announce strong financials, suggests analyst
Domino’s adjusted profit before tax is expected to be up 10% to £52.4m, analyst Peel Hunt has predicted.
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NewsMark Davies steps down as NewRiver CFO
Mark Davies is to step down from his position as NewRiver’s chief financial officer (CFO), and the company’s board, with immediate effect following the announcement earlier this week that NewRiver has reached an agreement to sell its pub business Hawthorn to Admiral Taverns.
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NewsMarston’s trading above expectations since indoor reopening
Marston’s has seen total food and drink sales at 92% of 2019 levels in the period from 17 May to 24 July 2021, with sales up 88% since 12 April, beating its expectations.
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NewsHospitality rent collection levels on the up
An increasing number of restaurants and cafes have been able to pay their rent over the three weeks following June quarter day, according to the latest data from property agency Colliers.
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NewsAdmiral Taverns to acquire Hawthorn in £222m deal
Admiral Taverns has reached an agreement to acquire community pub company Hawthorn from parent company NewRiver, for a cash consideration of approximately £222.3m.
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Analysis & InsightLoungers could up 25 new openings a year target
Loungers’ is exploring the possibility of moving beyond its target rate of 25 new site openings per year, according to analyst Berenberg.
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Analysis & InsightMarston’s described as ‘top value play’
Marston’s has been described as a ‘top value play’ by analyst Peel Hunt, in a note preceding the brewer and pub operator’s third quarter trading statement due out on 28 July.