Punch Taverns warns that it is in talks for debt restructuring October 24, 2012 TROUBLED pub chain Punch Taverns yesterday warned that it would have to restructure its massive debt as the company said sales at its 3,000 pubs had declined by six per cent in the last year. Although Punch Taverns remains profitable, it is saddled with £2.4bn of debt, and has seen pre-tax profit decline to £64m [...]
Ban Azarenka for her irresponsible ambush marketing January 27, 2013 ANDY played well. Novak played better. Just. The feather and the blister, which sounds like a Melbourne pub, may have been a factor, but equally may not. Without over-accentuating the positive, Murray was more at home in a grand slam final than he has ever appeared and he’ll undoubtedly be in a few more as [...]
Greene King boosted by diners December 4, 2012 Brewer Greene King today announced strong sales growth for the 24 weeks to 14 October 2012, largely thanks to strong sales at the pubs it controls. Total revenue was £566.2m, up from £527.5m for the same period last year, leaving operating profits of £122.7m. “Our team has delivered another strong trading performance driven by 17 [...]
UK consumer price index is forecast higher January 13, 2013 UTILITY prices are expected to have lifted the UK’s consumer price index (CPI), the household spending index due out tomorrow along with a swathe of housing and retail data. “We expect CPI inflation to have edged up to 2.8 per cent year on year in December from 2.7 per cent, and retail price index (RPI) [...]
Phil Vickery is pulling pints at the Pink Lion November 1, 2012 THE Golden Lion pub in Mayfair has been transformed this week by Thomas Pink, the official outfitters of the British & Irish Lion’s 125th anniversary tour to Australia. The newly-named Pink Lion has not only had a rosy-coloured makeover for the week, but is displaying the official tour stash. Not your typical rugby shirts and [...]
Phil Vickery is pulling pints at the Pink Lion November 1, 2012 THE Golden Lion pub in Mayfair has been transformed this week by Thomas Pink, the official outfitters of the British & Irish Lion’s 125th anniversary tour to Australia. The newly-named Pink Lion has not only had a rosy-coloured makeover for the week, but is displaying the official tour stash. Not your typical rugby shirts and [...]
Profits rise at All Bar One owner November 27, 2012 Pub and restaurant chain Mitchells & Butlers has announced better-than-expected full-year profits, boosted by improved food sales. The company operates brands including All Bar One, O’Neills and Toby Carvery, serving 130m meals and 420m drinks each year. Adjusted pre-tax profits for the year to 22 September rose to £162m from £156m, while like-for-like sales were [...]
Earnings slump at Punch as it continues to close down pubs April 12, 2012 PUNCH Taverns’ profits fell by 20 per cent in the first half of the year, it said yesterday, but reassured it was on track to meet its full-year profit expectations despite weak consumer market conditions. The tenanted-pubs business, which demerged its better-performing managed pubs division Spirit last year, said its pre-tax profit in the 28 [...]
Marston’s proves its pedigree with resilient summer sales October 3, 2012 RAIN over the summer and difficult economic conditions did not dent brewer and pub operator Marston’s. The firm said yesterday it had beaten many of its industry rivals, and expects a 2.2 per cent rise in pub sales for the last 12 months. The maker of Pedigree and Bass ales, which operates more than 2,000 [...]
Marston’s proves its pedigree with resilient summer sales October 3, 2012 RAIN over the summer and difficult economic conditions did not dent brewer and pub operator Marston’s. The firm said yesterday it had beaten many of its industry rivals, and expects a 2.2 per cent rise in pub sales for the last 12 months. The maker of Pedigree and Bass ales, which operates more than 2,000 [...]