Pubs enjoy boost from England win June 24, 2010 CITY pubs were celebrating a bumper day’s trading on Wednesday after England beat Slovenia to reach the knock-out stages of the World Cup. The streets of the Square Mile were packed from 3pm onwards as some took a half day of leave to watch the game and others chose to stay in the pub celebrating [...]
BEST OF THE BROKERS December 14, 2010 BARCLAYS BANK Deutsche Bank rates the bank “buy” with a target price of 372p. The researchers see potential for a restructuring programme under new management, or at least a stripping out of undervalued capital. However, the broker has cut its target price from 395p and earnings per share estimates by four to six per cent [...]
OUT OF OFFICE January 26, 2011 VALENTINE’S BURLESQUE AT PROUD Proud Cabaret, known for its evenings of seductive glamour, is pulling out the stops for Valentine’s Day. Expect a star line up of performers, with the BBC’s “Queen of Swing” Kai Hoffman as compere and hot young dancers in situ to bewitch with their own 1930s take on the genre. A [...]
Capital Pubs toasts boost from real ale June 23, 2010 CAPITAL Pub Company has seen a rise in profit – fuelled by real ale sales during the World Cup. The group – which has 28 pubs and has plans to own up to 50 within three years – yesterday reported a 32 per cent profit jump to £2.7m. Revenues rose by 11 per cent to [...]
ROCHESTER February 10, 2011 WHORNES PLACE, CUXTON Price: £850,000 A magical home with a unique blend of old and new qualities. This property is grade II listed and steeped in history. It even has a coat of arms inscribed above the front door. However, it has been renvovated to the highest standards of modern luxury. The walled garden is more [...]
Restaurant Group lifts profit target as it targets new openings to fuel growth January 12, 2011 RESTAURANT Group has forecast full-year profit just ahead of market estimates as better-than-expected trading at its new sites offset the impact of heavy snowfall in the UK. The company, which owns the Garfunkel’s and Frankie & Benny’s chains, said revenue for the 53 weeks to 2 January was seven per cent ahead of 2009, while [...]
Restaurant Group lifts profit target as it targets new openings to fuel growth January 12, 2011 RESTAURANT Group has forecast full-year profit just ahead of market estimates as better-than-expected trading at its new sites offset the impact of heavy snowfall in the UK. The company, which owns the Garfunkel’s and Frankie & Benny’s chains, said revenue for the 53 weeks to 2 January was seven per cent ahead of 2009, while [...]
Punch November 28, 2010 FEW sectors clawed their way out of the financial crisis with a worse hangover than the pub industry. Years of debt-fuelled expansion left the sector massively over-geared. At Friday’s close, Punch was worth just £380m while its debt pile is a staggering £3.1bn. Now that finance director Phil Dutton has left the business, boss Ian [...]
When it makes sense to shun the bigger banks February 7, 2011 WHEN BP announced its recent share swap with the Russian oil group Rosneft there was a sharp intake of breath amongst corporate financiers working for the likes of Credit Suisse, Goldman Sachs and Bank of America Merrill Lynch. None of the bulge bracket firms were named as advisers to BP on the deal. Instead the [...]
FTSE finishes in the red despite late rally March 2, 2011 The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St. The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions. Michael Hewson said the [...]