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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Sep- 2023 -21 September
Today’s news in brief – 21/09/23
SSP revenues are anticipated to reach £3bn for the year, spelling a 37% year-on-year increase and an EBITDA of £280m. This was due to recovery in passenger numbers, along with a stronger customer offer and digital presence. North America remains a key driver, while the UK and Ireland are expected…
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21 September
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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21 September
Buzzworks unveils expansion plans amid ‘strong’ trading results
One of Scotland’s independent bar and restaurant operators, Buzzworks Holdings, has announced its plans for expansion after reporting “strong” trading results across its entire portfolio of 20 venues. The confidence for expansion follows the opening of its flagship new restaurant, Scotts in Greenock, which saw a record number of visitors…
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21 September
Chopstix launches two learning programmes
Chopstix has launched two new learning programmes, the Chopstix Degree programme and ‘Pick ‘n’ Mix Diploma’. The Chopstix Degree programme launches this year, in partnership with Arden University, with the business expecting 50 Chopstix colleagues to register for the programme in the first year. The three-year course designed and delivered…
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21 September
SSP expects revenues of £3bn amid strong trading
SSP Group has upped its guidance and is expecting revenues to be at 116% of 2019 levels for the 16 weeks between June and September. For the full year, group revenues are expected to be £3bn compared to £2.2bn in the prior year, representing growth of 37% year-on-year. EBITDA is…
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21 September
Adnams operating losses widen to £2.4m in H1
Adnams has revealed that sales in the first half of 2023 were level with last year’s total of £30m, as input costs continued to climb and contributed to operating losses widening to £2.4m. The pub operator attributed its performance to Q1’s subdued sales, as inflation peaked. However, lighter evenings and…
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20 September
Today’s news in brief – 20/09/23
Food hall operator Market Halls reported a remarkable 155% revenue increase to £22m in the year ending July 2023 due to a 40% like-for-like sales growth. EBITDA before company costs reached £2.6m, as sales at their London sites exceeded pre-Covid levels. As a result, the company plans to open two…
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20 September
Arc Inspirations sales jump 7.5% amid expanded estate
Bar group Arc Inspirations has announced an annual sales growth of 7.5% up to £40.8m for the year ended 26 March 2023. Alongside this the company posted an adjusted EBITDA of £3.84m, overcoming economy-wide inflationary and staffing pressures. Company EBITDA for the year was lower than the previous period, which…
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20 September
UK delivery and takeaway sales rise 6%, says CGA
Britain’s top managed restaurant groups secured a third successive month of year-on-year growth in delivery and takeaway sales in August, according to the CGA. The latest CGA by NIQ’s hospitality at home tracker shows revenue from orders was 6% higher than in August 2022. The news extends a run of…
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20 September
Sexy Fish to open new Manchester site in October
Sexy Fish has announced its new Manchester site is set to open its doors on 12 October 2023 and has opened reservations today (20 September) ahead of the launch. The new restaurant will be open daily for lunch and dinner in the former Armani building facing onto Deansgate in Manchester.…
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