All Greene King articles – Page 19
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Analysis & InsightM&A market back with a boom
Two potential deals are keeping City gossip hot at the moment, but they are very different types of bid. One company is categorically saying no to an offer while silence rules the other tender, Dominic Walsh tells all
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NewsGreene King 'can justify expected price for Spirit'
Greene King is likely to have to offer between 110p and 120p per share for Spirit Pub Company, an amount that can be justified from a multiple of earnings perspective, according to leading analyst Nick Batram
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NewsJDW’s Davis to become Greene King CFO
Kirk Davis, the current finance director at JD Wetherspoon, is to join rival Greene King from the start of next year as its new chief financial officer.
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NewsAnalyst corner: Rollo on Spirit/Greene King
Jamie Rollo at Morgan Stanley looks at Greene King’s offer for Spirit, and says that integration could drive material synergies of around £50m
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Analysis & InsightUK leisure spend grows 2% year-on-year
The average British household spent 2% (£5) more on leisure in August than in the same month last year, driven by growth in eating out (+11% to £98.09) and mitigated by a 2% fall in drinking out spend (to £50.35)
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OpinionDeal of the decade?
What lies behind Greene King’s approach for Spirit Pub Company, what complications does it bring and what does it tell us about the current state of the pub market? John Harrington speaks to the experts
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News
Spirit: Greene King offer 'undervalued' the company
Spirit Pub Company has said Greene King’s 100p-per-share offer for the firm “undervalued” the group, with Spirit’s board saying it “remains fully confident in the ongoing execution of Spirit’s strategy as an independent company”
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NewsGreene King confirms approach for Spirit
Greene King has confirmed that it has approached the board of Spirit Pub Company about a potential “combination” of the two groups
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NewsAnalyst corner - Sahill Shan on Greene King
Sahill Shan of N1 Singer upgrades Greene King from Sell to Hold, saying he does not believe that its “disappointing” AGM update this week is a “fundamental setback” for the brewer and pub operator
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News
Jack moves Greene King from Buy to Add
Leading analyst Douglas Jack has downgraded his recommendation for Greene King from Buy to Add and cut forecasts by 3% as the brewer reduces its reliance on tenanted pubs in what Jack called a year of “limited growth”
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NewsGreene King Retail lfls rise 0.4%
Greene King, the brewer and pub operator, has reported a 0.4% rise in like-for-like sales in its managed Retail arm in the 18 weeks to 7 September, with “tough comparatives” from last year’s “excellent” summer, “compounded by a disappointing World Cup”
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OpinionFyne dining
Liz Williams, the woman at the helm of the UK’s biggest seafood restaurant group Loch Fyne, talks discounting, the competition and chasing the grey pound
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NewsTough comps 'to hit Greene King'
Leading analyst Geof Collyer has issued a Buy recommendation for Greene King but said tough comparatives over summer may hold back its short term performance
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NewsGreene King exceeds charity target
Greene King has exceeded its £1m charity fundraising target and raised £1.2m for charity partner Macmillan Cancer, eight months ahead of schedule
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NewsJack upgrades Greene King to Buy
Leading analyst Douglas Jack has upgraded his recommendation for Greene King to Buy to reflect faster expansion and progress with the company’s repositioning towards food-led managed pubs
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Analysis & Insight
Scots spend more on eating and drinking out
Households in Scotland are “slightly more sociable” than their counterparts elsewhere in Britain, spending on average 3% more on leisure activities in the six months to July, the Greene King Leisure Spend Tracker reports
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Analysis & InsightHousehold leisure spend grows 12% in July
Household spending on leisure grew 12% to £202 in July, with the good weather causing the amount spent on drinking out to grow 14% to £45.84 while eating out spend rose 5% to £75.71, according to the Greene King Leisure Spend Tracker
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News
Belhaven to introduce MatchPint
Belhaven, the Greene King-owned brewer and pub operator, is to introduce the football and rugby-linked consumer giveaway app MatchPint at its pubs in Aberdeen, Glasgow, Edinburgh and Stirling
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NewsGreene King appeals tax avoidance case
Greene King, the brewer and pub operator, is appealing the ruling against the legality of an alleged tax avoidance scheme following defeat in two tax lower courts and criticism by MPs including a Treasury minister, The Guardian reports
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Diary
Diary: Cafe Rouge, Greene King, Leon and Adnams
This week’s Diary includes another incarnation of Café Rouge, Adnams’ award-winning spirits, Greene King’s remuneration and Leon considers television. Another new take on Rouge The Café Rouge at Villiers Street, near Charing Cross Station, was the final attempt at evolving the brand launched under the stewardship of Graham Turner. ...