M&B restarts the hunt for new Blood October 16, 2011 JEREMY Blood is planning to step down from the helm of Mitchells & Butlers following the aborted £940m takeover by billionaire Joe Lewis, it is understood. Blood was appointed as interim chief executive in March to replace Adam Fowle, who left “by mutual consent” after two years in the post. City A.M. understands the former [...]
THE TIPSTER October 30, 2011 TRICK or treat? Marstons – brewer of Hobgoblin beer and pub owner – has like the rest of the market, enjoyed a frightfully good October, with shares rallying close on 20 per cent. Although the market is becoming increasingly dominated by a handful of giants, earnings are expected to be in line with expectations when [...]
THE TIPSTER October 30, 2011 TRICK or treat? Marstons – brewer of Hobgoblin beer and pub owner – has like the rest of the market, enjoyed a frightfully good October, with shares rallying close on 20 per cent. Although the market is becoming increasingly dominated by a handful of giants, earnings are expected to be in line with expectations when [...]
Hangover dulls caffeine high September 6, 2011 WHITBREAD’s upbeat statement yesterday was a breath of fresh air to the markets, propping up the FTSE with a seven per cent jump as it promised yet more growth from its core Costa Coffee and Premier Inn brands. But there’s one albatross still hanging around the company neck – its underperforming pub restaurant business, where [...]
Mitchells & Butlers turns down new bid September 13, 2011 MITCHELLS & Butlers shareholder Standard Life Investments yesterday branded Piedmont’s 230p per share possible offer “insulting” and accused it of destabilising the company, as the firm rejected the approach. David Cummings, SLI’s head of UK equities, lashed out at Piedmont owner Joe Lewis, claiming his attempt to buy the pub group outright was “wholly unsatisfactory”. [...]
The gastropub kings with their sights set on the City August 17, 2011 IF you’re the sort of person who appreciates London’s classier pub offerings, the chances are you’ve been a customer of Tom and Ed Martin. The brothers, a pair of gangly good eggs who exude bonhomie and serious business ambition in equal measure, are the operators of an impressive number of the capital’s upper echelon public [...]
CITY MOVES | WHO’S SWITCHING JOBS October 30, 2011 Premier Cru Fine Wine Investments Serial entrepreneur Sir Eric Peacock has joined the board of Premier Cru Fine Wine Investments, the fine wine investment adviser, as a non-executive chairman. Sir Eric is a non-executive director of UKTI and the chairman of Baydonhill Fx, Buckley Jewellery, Halo Furniture and Stage Technologies. Earlier in his business career, [...]
BEST OF THE BROKERS October 10, 2011 MITCHELLS & BUTLERS Numis rates the pub group “hold” with a 250p target price due to M&B’s uncertain future with just a week to go before Joe Lewis’ investment vehicle Piedmont must submit a formal offer. Management has rejected his 230p per share bid, but it could be accepted if major investors Elpida and Smoothfield [...]
Whitbread beats target and hikes dividend October 18, 2011 Britain’s biggest hotel and coffee shop operator Whitbread reported higher-than-expected first-half pre-tax profits and ramped up its interim dividend by over 50 per cent. Whitbread, which operates the Premier Inn and Costa Coffee chains, said underlying pre-tax profits rose by 15.2 per cent to £174.9m in the six months to 1 September against a consensus [...]
Whitbread beats target and hikes dividend October 18, 2011 Britain’s biggest hotel and coffee shop operator Whitbread reported higher-than-expected first-half pre-tax profits and ramped up its interim dividend by over 50 per cent. Whitbread, which operates the Premier Inn and Costa Coffee chains, said underlying pre-tax profits rose by 15.2 per cent to £174.9m in the six months to 1 September against a consensus [...]