News
The News section on Catering Today delivers the latest updates and developments across the UK hospitality and catering industry. Covering restaurants, pubs, quick service brands, and catering groups, it reports on company announcements, market performance, government policy, and sector-wide trends. With a focus on commercial and operational impact, Catering Today’s news coverage keeps hospitality professionals informed of the events and decisions shaping business conditions and strategic opportunities across the sector.
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Dec- 2023 -6 December
Today’s news in brief – 06/12/23
SSP reported a 38% rise in revenues to £3bn and doubled its EBITDA during FY23. This success was fueled by revenue growth and profit conversion, with a notable 25% H2 revenues increase on a constant currency basis. While North America, APAC, and EMEA regions contributed strongly, the UK and Europe…
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6 December
Drake and Morgan EBITDA slides amid ‘record’ xmas bookings
Drake and Morgan has seen its adjusted EBITDA fall to £4.1m for the year ended 26 March 2023, down from £5m in the same period last year. However, the company saw its turnover increase to £43.3m up from the £35.9m it posted last year. The company put the EBITDA fall…
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6 December
The Langham, London, to open Mimosa in 2024
Luxury hotel The Langham, London, will be opening French restaurant Mimosa in early 2024, bringing the “flavours and spirit” of the French Riviera to the Capital. Operators of Mimosa, Moma Group, first launched the restaurant in Paris in 2021. The London Mimosa restaurant will be the first international outpost and…
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6 December
EG Group to sell 218 KFC franchise restaurants
EG Group has announced that it has entered into a definitive agreement to sell all its 218 KFC franchise restaurants in the UK and Ireland to Yum! Brands’ KFC Division. The transaction agreed by EG Group – the largest KFC franchisee in the UK and Ireland – is an additional…
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6 December
SSP Group revenues hit £3bn in FY23
SSP Group revenues rose 38% to £3bn for the full year ended 30 September, as EBITDA doubled to £280m compared with last year. The group attributed its performance to strong revenue growth and profit conversion, with H2 revenues growing by 25% on a constant currency basis. While the group saw…
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5 December
Today’s news in brief – 05/12/23
Marston’s swung to a £30.7m loss despite revenues rising 9.1% to £872.3m, due to interest rate hikes and property valuations. Yet, with optimistic Christmas bookings, the pub chain noted encouraging revenue figures. Meanwhile, the group has appointed a new CEO, Justin Platt, effective 10 January. The group’s focus is on…
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5 December
Red Oak Taverns confirms debt refinancing
Red Oak Taverns, the independent pub company, has revealed it has refinanced its debt with Oaknorth Bank OakNorth previously financed the business for six years, ahead of Red Oak moving to Hayfin in March 2022. Red Oak Taverns was founded by Mark Grunnell and Aaron Brown in 2011 and has…
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5 December
Relais & Châteaux chefs pledge to stop serving eel
Relais and Châteaux’s World Culinary Council have voted to immediately remove eel from its own menus, as the fish is considered critically endangered and features on the International Union for Conservation of Nature’s (IUCN) red list of threatened species. The association has called on the rest of its 580 hotels…
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5 December
Labour shortages to worsen with new immigration plan, says UKH
Labour shortages in the hospitality sector are set to worsen as a result of the Government’s new immigration plans according to UKHospitality. While three quarters of the hospitality workforce are made up of UK nationals, around a quarter of the workforce is made up of overseas workers according to UKH.…
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5 December
Marston’s falls to £20.7m loss despite strong revenues
Pub chain Marston’s has fallen to a £20.7m loss despite reporting a 9.1% increase in revenues to £872.3m for the 52 weeks ending 30 September 2023. The loss comes in the face of a £163.4m profit a year earlier with the pub group attributing the performance to being hit by…
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