The EG Group has reported that its revenues surged 25.1% year-on-year from $5.52bn (£4.4bn) to $6.91bn (£5.5bn) in the three months ending 21 March 2022 (Q1), driven by growth in its foodservice business. Foodservice operations saw a 54% rise in gross profits to $175m (£139.7m), compared to $114m (£91m) in…
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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.
The SSP Group has reported its revenues surged 212.9% year-on-year to £803.2m for the six month period ended 31 March 2022 (H2), recovering “strongly” with 64% growth compared to pre-Covid levels as the travel sector rebounds. SSP operates brands such as Upper Crust and Ritazza, as well as franchises for…
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McDonald’s has announced it has initiated a process to sell its Russian business, having entered into a sale and purchase agreement with its existing licensee, Alexander Govor. Last week (16 May), Mcdonald’s announced that it will exit the Russian market after more than 30 years of operations in the country.…
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McDonald’s Corporation has announced it will permanently exit the Russian market after more than 30 years of operations in the country, and it has initiated a process to sell its Russian business. McDonald’s said the humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, had…
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The Compass Group has reported that its revenues increased 37.9% year-on-year from £8.4bn to £11.6bn in the six months ending 31 March 2022 (H1), meaning revenues are at 99% of 2019 figures with its run rate now above pre-Covid levels. Operating profits also surged 134.5% from to £673m, compared to…
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Seasoned, the catering and events firm, has beaten the competition to become an official partner for Sea Life Brighton, expanding on its presence in the seaside resort. The organisation celebrated the contract with a soft launch, inviting local industry colleagues and dignitaries including Brighton and Hove mayor Alan Robins to…
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More councils should follow the lead of Kensington and Chelsea by introducing policies that encourage outdoor eating and dining culture, legal experts say. The West London borough is the first in the UK to commit to encouraging al fresco dining as an ongoing feature of its high streets. A new…
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Hospitality, leisure and retail businesses in England are facing a “dangerous cost of doing business crisis”, according to real estate adviser Altus Group, as the government presses ahead with its £3.1bn business rates rise on 1 April. Analysis by Altus Group, following yesterday’s (23 March) Spring Statement, shows councils in…
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Caterer Seasoned has won the contract to provide on-site services for more than 850 students and 150 members of staff at Coventry University’s Scarborough campus, along with the hospitality for events such as open days. CU Scarborough, which is part of the Coventry University Group, is set to expand its…
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The sushi chain Yo!’s parent company, Snowfox Group, has reportedly picked further advisers for a potential £750m listing. According to Sky News, the Snowfox Group is working with Barclays, Jefferies and Peel Hunt on a prospective initial public offering (IPO). Mayfair Equity Partners, the company’s controlling shareholder, is said to…
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