Finance – Page 88
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NewsGhetto Golf operator secures £5m from Imbiba
Big Fang Collective, which operates Ghetto Golf, Golf Fang and Birdies Bar brands, will use the funding to continue its UK expansion which includes seven new sites over the next two years
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NewsTortilla to accelerate expansion on the back of significant revenue growth
The fast-casual Mexican brand, which listed on AIM in October, achieved revenue growth of +79.5% in the full year to 2 January 2022, with its strong trading momentum continuing post year-end
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NewsMcDonald’s takes ownership of largest UK franchisee
Founded by Athul Pathak, Appt Corporation operated 43 sites, with McDonald’s Restaurants Limited acquiring 100% of his shares
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NewsNeyba looks to raise £15m to fuel London expansion
The kitchen and grocery store concept, launched by Burger & Lobster founder Misha Zelman, and former Harrods marketing lead Ben Hedley, is targeting 14 sites in the capital within a year
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NewsBrasserie Bar Co ready to exploit opportunities
The White Brasserie and Brasserie Blanc operator is now “exceptionally well capitalised” following its sale to Alchemy
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NewsFulham Shore expecting profit to exceed expectations
The group, which operates Franco Manca and The Real Greek restaurants, is forecasting revenue and EBITDA above pre-Covid levels with 18 new sites planned for this year
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NewsStarbucks turnover up 35%
The UK business, which reported profits of £7.9m in 2021, said its recovery had been driven by strong drive thru and delivery sales
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Analysis & InsightDeliveroo CEO disappointed with share price since listing
In its first annual report since the delivery company listed last year, founder and CEO Will Shu admitted share price performance had been “poor”
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NewsTrading growing steadily at Barkby
Barkby Pubs saw strong trading between July and September 2021, with record revenue and profits for that quarter, and is looking for further acquisition opportunities
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NewsShepherd Neame achieves ‘strong rebound’ in sales
The brewer and pub operator, which announced the issue of its first dividend since October 2019, said most of its London pubs were now trading at near normal levels
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Analysis & InsightBerenberg: ‘TRG’s growth outlook is best-in-class’
The analyst said that despite facing significant cost inflation this year, it thinks TRG can still outperform consensus earnings expectations
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NewsDrake & Morgan sees strong return to trading
The bar and restaurant group has seen a strong return to trading levels since the removal of Plan B restrictions at the end of January, as it recovers from a tough FY21 financial year.
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NewsBrighton Pier Group reports ‘very strong’ H1 performance
The family entertainment group’s bar division traded ahead of expectations, achieving revenue of £6m, vs. £0.7m in 2020
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NewsStonegate to press ahead with capex programme
Chief executive Simon Longbottom said the group is “in great shape” and that its conversions to its managed estate are delivering promising results
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NewsTasty ‘cautiously optimistic’ about estate expansion
The operator of Wildwood and dim t restaurants said it expects to open around five to six new units this year, in a “measured expansion plan”, following a profit turnaround last year
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NewsCity Pub Group sells pub package to Portobello Starboard
The five pubs on the South Coast of England, including three in Brighton, were sold for £16.2m
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NewsMowgli reports ‘extremely strong trading’
The Nisha Katona-led restaurant group said like-for-likes remained materially above pre-Covid levels across all segments of the business, since the full lifting of restrictions last July
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NewsWetherspoon reports ‘more normal trading patterns’
Chairman Tim Martin said after a traumatic two years, sales had improved in recent weeks, and were down just 2.6% in the three-week period to 13 March 2022 compared to 2019
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NewsSoho House accelerates expansion
Founder Nick Jones said “unprecedented demand” had given the group confidence to increase its openings to eight-ten new sites per year
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NewsMinor International prepares action against Jeremy King
Sky News reports Thai-based Minor is bringing two legal cases in the battle for control over Corbin & King