Earnings
Our Earnings coverage delivers detailed reporting on the financial results of key players in the UK foodservice and hospitality sector, including restaurant groups, pub chains, catering firms, and supplier brands. We analyse revenue performance, profit trends, cost pressures, and investor outlooks, helping operators benchmark against industry peers and assess commercial resilience, market dynamics, and growth opportunities across the trade.
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Nov- 2023 -28 NovemberNews
Today’s news in brief – 28/11/23
Shareholders backed TRG’s £506m sale to Apollo Global, privatising the company that operates Wagamama among others. Each share’s value of 65p signifies an enterprise worth of £701m. TRG’s strategies led to two earnings upgrades and £5m in cost savings, aligning with Apollo’s belief in TRG’s market prominence. Apollo’s reassurances about…
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28 NovemberNews
TRG shareholders approve £506m Apollo deal
The Restaurant Group shareholders have formally voted in favour of the company sale to US-based private equity company Apollo Global Management for £506m. During a general meeting held yesterday (27 November), 93.5% of shareholders voted in favour of the cash acquisition of the group, which includes Wagamama and the pub…
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Oct- 2023 -11 OctoberNews
Today’s news in brief – 11/10/23
Marston’s saw total retail sales rise by 11.2% during FY23, ended 30 September, with like-for-like sales rising by 10.1% compared with FY22. Sales for the 10-week period from 23 July to 30 September increased by 7.7% year-on-year. This included an upturn in the last five weeks, where like-for-like sales saw…
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11 OctoberRestaurants
Former GBK owner Famous Brands warns on profits
The board of directors of Famous Brands has issued a profit warning stating that its basic earnings per share (BEPS) may be 20% lower than expected for the six months ended 31 August 2023. The company stated that the reported BEPS is expected to be between 225 cents and 174…
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2 OctoberTrade Associations
UKH calls for no Christmas strikes amid ongoing rail dispute
Hospitality businesses such as Wasabi, Greene King and Fuller’s have signed an open letter alongside UKH to the Transport Secretary, RMT, ASLEF and Rail Delivery Group, urging them to resolve the ongoing disputes to avoid strikes over the Christmas period. It comes as fresh rail strikes, which began on Saturday…
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Sep- 2023 -26 SeptemberNews
Today’s news in brief – 26/09/23
Brighton Pier Group reported a decrease in total revenues, falling from £17.3m to £16.2m in H1, primarily due to declining sales in its bar division. Ongoing inflationary pressures impacted operating margins, resulting in lower earnings compared to the previous year. EBITDA dropped from £3m to £1.4m, with a loss before…
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26 SeptemberPubs and Bars
Brighton Pier revenues fall in H1 amid declining bar sales
The Brighton Pier Group has revealed that total revenues were down from £17.3m to £16.2m in H1, following a decline in sales from the group’s bar division. Following “exceptionally” strong trading from a post-pandemic surge in demand in the first half of 2022, ongoing inflationary pressures – in particular to…
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Aug- 2023 -1 AugustFood and Drink
Greggs profits jump 14.2% to £63.7m in H1
Bakery retailer Greggs has revealed that its underlying profit before tax excluding exceptional items increased 14.2% to £63.7m in the 26 weeks ended 1 July. This comes as the group’s total first-half sales increased 21.5%, with company-managed shops experiencing a like-for-like increase of 16%. Meanwhile, an underlying earnings growth of…
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Jul- 2023 -31 JulyFood and Drink
McDonald’s sales rise 11.7% in Q2
McDonald’s has revealed that its global comparable sales increased by 11.7% for the second quarter ended 30 June, with double-digit growth reported across each segment. The fast food giant’s digital Systemwide sales in its top six markets were also over $8bn (£6.2bn) for Q2, which represents nearly 40% of its…
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25 JulyNews
Brighton Pier Group reports ‘widespread decline’ in Q2
Brighton Pier Group has announced that total sales for the six months ending 25 June 2023 are expected to be in the region of £16.2m. The group said that the second quarter “has proved more difficult”, with sales remaining behind 2022. It added that the current macroeconomic environment is leading…
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