Wetherspoon costs increase January 16, 2013 JD WETHERSPOON outpaced rival operators during Christmas, the pub chain reported yesterday, with like-for-like sales rising eight per cent over the festive period. However, a surprising hit to profit margins spooked City investors. The company, which runs over 800 pubs, said margins were around 8.2 per cent, which is 1.1 percentage points lower than last year, due [...]
Best of the Brokers February 14, 2013 SPIRIT PUB COMPANY Broker Numis has reiterated its “buy” rating on the pub stock after it said the company’s growth prospects were “undervalued”. Analysts said there were concerns about the firm’s bond amortisation schedule in 2015 but that it should be resolved by refinancing. The firm’s net debt to earnings ratio should also fall in [...]
Hungary enough to eat a horse February 26, 2013 A watchdog has now found horse masquerading as beef in Hungary, as near daily revelations start to give a picture of the scale of this continent-wide mislabelling scandal. Data from Kantar today showed that sales of frozen burgers in the UK are down 43 per cent in the four weeks to February 17, and frozen [...]
Taxpayers’ Alliance campaign calls time on excessive beer duty February 26, 2013 Today the TaxPayers' Alliance calls on chancellor George Osborne to reduce the UK's punishing beer duty with their new campaign, Mash Beer Tax. Their website notes that: High taxes make your drinks more expensive, with tax often constituting a third of the price of a pint. In the last 4 years, 5,800 pubs have [...]
Christmas cheer raises spirits at Greene King January 14, 2013 RECORD numbers of people flocked to Greene King pubs over Christmas as the company ramped up efforts to bring in festive diners. The pub owner and brewer revealed yesterday that like-for-like trading in its establishments was up 2.8 per cent in the six weeks to 6 January, while pub sales were up 6.8 per cent [...]
Fuller’s improves at Christmas after watered-down summer January 24, 2013 CUSTOMERS flocked to Fuller’s pubs over Christmas, as the landlord and brewer reported a 4.5 per cent like-for-like sales rise during the festive period in its core business. After declining sales for much of the year, improved trading in the nine weeks to 19 January has pushed Fuller’s to a 2.6 per cent rise in [...]
Greene King enjoys record Christmas trading January 14, 2013 Pub group Greene King hailed a strong festive period this morning, as it posted record sales through Christmas and the New Year. Over the past six weeks, like for like sales growth came in at 2.8 per cent, and Greene King said it enjoyed record Christmas Day sales of £2.7m, up 6.8 per cent year [...]
Snow hits Enterprise Inns and M&B January 31, 2013 PUB chains Mitchells & Butlers and Enterprise Inns both blamed the heavy snow during January for poor trading over the past few weeks. The companies, which own around 7,600 establishments between them, said that despite strong Christmas sales, a dismal January meant performances over recent weeks have been down year-on-year.
May trading picks up for pubs June 20, 2012 Trading for pubs and restaurants across the UK improved in May, boosted by warm weather at the end of the month, a study released yesterday showed. The Coffer Peach Business Tracker reported that comparable sales in May rose 2.6 per cent on the year, following a fall of two per cent in April.
Best of the Brokers January 13, 2013 AGA RANGEMASTER GROUP Numis has the iconic cooker maker “under review” following last week’s trading update. According to the broker, the firm will continue to generate earnings and revenue growth this year. However, Numis has lowered it outer profit before tax forecast for 2013 from £8m to £7.5m. Profit before tax for 2012 is set [...]