The Co-op boss who is on a mission to rejuvenate an iconic organisation September 19, 2010 IT IS EASY to see why Co-operative Group chief executive Peter Marks is so excited about the new £180m head office that will open on a 20-acre site in the centre of Manchester in 2012. The current 1960s 13-storey building across the road seems to be made almost entirely of linoleum and plywood. I have [...]
BEST OF THE BROKERS May 12, 2010 ENTERPRISE INNS Citi retains its “sell” rating on Enterprise Inns. Its negative view comes despite recent interim results which it concedes put the pub company slightly ahead of its expectations. But despite a positive market reaction, Citi warns that consensus numbers are likely to fall modestly to reflect higher interest costs. TUI TRAVEL Credit Suisse [...]
Cider proves bad apple of Darling’s eye March 24, 2010 CIDER drinkers will bear the brunt of the chancellor’s latest “sin” tax swoop, after Alistair Darling yesterday said the drink had enjoyed a disproportionately lengthy tax holiday. From midnight on Sunday, cider will face a tax increase of 10 per cent above inflation, a move the chancellor said would address a “long-standing anomaly which has [...]
The ascent of prime London’s new hotspot July 15, 2010 FITZROVIA, the area around the BT Tower, bordered by Oxford Street, Tottenham Court Road, Great Portland Street and Euston Road, should be Londoners’ idea of property heaven. The West End is on your doorstep, as is Regent’s Park. The ever-more exciting restaurant and bar scene of Goodge and Charlotte Streets, and the more established prettiness [...]
SABMiller in flat sales but Peroni fizzes May 20, 2010 BREWING giant SABMiller expects consumer spending to recover at the end of 2010 – with only a slight lift in beer sales at the World Cup in South Africa. The world’s second biggest brewer – which earns over 85 per cent of its profit from emerging markets – posted a 17 per cent rise in [...]
SABMiller in flat sales but Peroni fizzes May 20, 2010 BREWING giant SABMiller expects consumer spending to recover at the end of 2010 – with only a slight lift in beer sales at the World Cup in South Africa. The world’s second biggest brewer – which earns over 85 per cent of its profit from emerging markets – posted a 17 per cent rise in [...]
Capital Pub Company says it sees signs of early recovery at its London outlets November 18, 2009 CAPITAL Pub Company yesterday reported a 20 per cent increase in profits yesterday in the half year to the end of September, raising hopes it would restart its dividend. Capital Pub, which operates 27 pubs throughout London, also saw a nine per cent increase in sales to £11.1m from £10.1m in 2008. Its adjusted pre-tax [...]
C&C pins hopes on new Magners ads May 25, 2010 C&C Group hopes a series of new ad campaigns and acquisitions will help to arrest declining sales in its Magners brand. The UK cider market has been growing around five per cent a year but Magners has seen a reversal in fortunes. Chief executive John Dunsmore said: “Magners has lost substantial market share in the [...]
Punch Taverns chief resigns March 30, 2010 BRITAIN’S biggest pubs firm Punch Taverns said yesterday chief executive Giles Thorley is to stand down from the board after seven years at the helm during which the company’s debt rose to record levels. Punch, which has over 7,500 pubs across Britain, said it was well advanced in the process of appointing a successor as [...]
Mitchell’s & Butlers shifts focus to food March 24, 2010 PUBS group Mitchells & Butlers said yesterday it planned to transform into a food-led business. The group has pledged to expand its Harvester, Toby Carvery, Crown Carveries, Sizzling Pub Co, Premium Country Dining and Vintage Inns. These brands currently trade from 913 outlets but the company believes there is potential for up to 1,900 outlets. [...]