Research and development (R&D) spending in the hospitality industry fell 21% in the Q1 of 2022, according to the latest Office of National Statistics (ONS) data analysed by funding specialist Catax. The ONS published its Q1 2022 statistics for R&D spending on 30 June, Catax states that “spending on R&D…
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The latest news and updates on the business of foodservice, from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
Hospitality businesses across Scotland could lose an estimated £50m due to the impact of industrial action taking place on the railways this week, industry bosses say. Leon Thompson, executive director of UKHospitality Scotland, said: “Members of the organisation have been reporting bookings being cancelled by customers as strike action by…
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Capital and Counties Properties PLC (Capco) and Shaftesbury have announced they have reached an agreement for an all-share merger, valuing the combined group’s portfolio at £5bn with annualised gross income of approximately £165.5m. Under the terms of the agreement, the Capco Group will own 100% of the issued and to…
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Compass Group UK and Ireland has announced the appointment of Karl Atkins as the new managing director for Foodbuy, the procurement service provider. Atkins has been with Foodbuy for the past three years in the chief operating officer role – where his focus has been supporting the growth of Foodbuy’s…
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Whitbread has revealed that it expects to increase its total costs by £20m – £30m in FY23 due to targeted pay increases and the labour supply remaining “tight” across the hospitality sector. The Premier Inn operator will also bring forward its investment in refurbishments and maintenance projects, as well as…
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Pret A Manger has reached an agreement with the Ibersol Group to launch the Pret brand and products across Spain and Portugal. Under the terms of the agreement, Ibersol Group will bring Pret’s food and organic coffee to the two countries. The agreement comes as Pret steps up its global…
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Revolution Bars Group plc has reported confidence in delivering adjusted EBITDA after rental charges “slightly ahead” of market expectations for the financial year to date, ahead of the group’s 2 July 2022 year end, currently standing at £10m. This follows “positive” trading over the Jubilee Bank Holiday, and the business…
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Hospitality workers are among the least likely to receive a pay rise from their employers in order to help them through the cost of living crisis, according to a new survey. The study, from personal finance experts Forbes Advisors, surveyed over 5,100 UK adults and found that lowest of all…
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The Liberation Group has reported its underlying EBITDA hit £9.53m, compared to a loss of £795m in 2021 for the 52 week period ended 29 January 2022, despite another year of disruption due to Covid. Group operating profit also increased from a loss of £9.38m to £2.52m, with group turnover…
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Approximately half (48%) of businesses currently trading have reported that the prices of materials, goods, or services bought in April 2022 had increased from March 2022, while 23% reported that prices sold had increased across the same period. According to the Office for National Statistics (ONS), 12% of businesses that…
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