News
The latest industry news 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.
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Oct- 2023 -30 October
Poor weather sees drinks sales fall despite England rugby games
Year-on-year average drink sales in managed venues fell marginally by 0.2% in the week to 21 October, according to data from CGA. Bad weather as a result of Storm Babet offset the benefits of two England rugby world cup games causing a decline in sales after eight weeks of growth…
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30 October
Demand for sweet treats in hospitality grows, says CGA
New research from CGA by NIQ and Mademoiselle Desserts points to an ongoing appetite for treats despite the cost of living crisis, making mini desserts a good solution for menus in 2024. The joint ‘Desserts and Sweet Bakery’ report reveals fewer than one in five (18%) consumers are cutting down…
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30 October
Red Oak Taverns acquires 17 pubs from St Austell Brewery
Red Oak Taverns has announced that it will complete the purchase of 17 pubs from St Austell Brewery’s leased and tenanted estate on 31 October 2023. The deal includes sites across Cornwall, Devon and Somerset such as the Rolle Quay (Barnstaple), the White Hart (Launceston) and the Four Lords (Par).…
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30 October
UK licensed premises drop below 100k for first time in 20 years
The number of Britain’s licensed premises has fallen by nearly a third in the last two decades to below 100,000 for the first time in 20 years, according to new figures from UKH in partnership with CGA by NIQ. At the end of this September, the total number of licensed…
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27 October
Today’s news in brief – 27/10/23
Punch Pubs reported total revenues of £313.5m for FY23, up from £284.4m in FY22. Management Partnership division’s revenues also increased by 24% to £139.8m over 52 weeks. All three divisions, including leased and tenanted, management partnership, and Laine, achieved like-for-like sales growth. EBITDA for the period was £79.1m, a decrease…
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27 October
Boxpark posts £3.9m PBT
Boxpark has announced that it has posted a profit before tax of £3.9m for the year ended 30 April 2023, up from the £3.5m it posted in the previous year. Alongside this the company posted a gross profit of £8.8m for the full year compared with £8.5m last year. The…
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27 October
Star Pubs and Bars opens The Unicorn in Cardiff
Star Pubs and Bars has launched The Unicorn pub in Cardiff following a £1.4m upgrade. The pub group stated that with the new opening, it has completed its “biggest single investment” in the UK this year. Closed for five years, the pub has been transformed into a Just Add Talent…
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27 October
Punch Pubs revenues increase to £313.5m in FY23
Punch Pubs has today (27 October) announced total revenues of £313.5m for FY23, up from £284.4m in FY22. Over the 52 week period Management Partnership revenue has increased 24% from £112.8m to £139.8m. All three divisions for the group – leased and tenanted, management partnership and laine – delivered like-for-like…
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27 October
JKS Restaurants turnover doubles in FY22
The operator of Gymkhana, Hoppers, Sabor and Kitchen Table, JKS Restaurants, has revealed that turnover has almost doubled to £50m during FY22 ended 1 January 2023. The company, which is part of the group headed by Yum Midco Limited, also reported that for the period EBITDA reached £5.5m from £1m…
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26 October
Today’s news in brief – 26/10/23
TRG has confirmed it received a request from Wheel Topco, the owner of Pizza Express, to evaluate a possible takeover offer for the company. However, TRG clarified that no formal proposal, including terms, price, or consideration, has been made by Wheel Topco. This follows reports that Pizza Express is considering…
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