Interest Rates
Coverage examines how changes in interest rates affect the UK hospitality and foodservice sector, including impacts on borrowing costs, business investment, consumer confidence, and property finance. Reporting provides context and analysis to help restaurant groups, pub operators, and catering businesses understand the financial environment and make informed strategic decisions.
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Feb- 2025 -6 FebruaryBusiness
BoE cuts interest rates to 4.5%
The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been “weaker than expected”. At its meeting this week, the bank’s monetary policy committee voted by a majority of 7–2 to reduce the…
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Jan- 2025 -14 JanuaryRestaurants
Comptoir sees revenues rise 9.5% to £34.5m
Comptoir Group, the owner and operator of Lebanese, Middle Eastern and North African inspired restaurants has reported a 9.5% increase in revenues to £34.5m for FY24 (FY23: £31.5m). The group’s restaurant sales also recorded a positive increase, with like for like sales in the second half year of +2.9% and…
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Dec- 2024 -20 DecemberNews-In-Brief
Today’s news in brief – 20/12/24
Drake and Morgan reported that turnover rose 5% to £45.5m for the year to 31 March. Alongside this, the company’s adjusted EBITDA rose to £4.4m, up from £4.1m the previous year. It comes as the company has stated that Christmas bookings are set to eclipse last year’s record across its…
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20 DecemberTrade Associations
UKH disappointed in BoE decision to hold interest rates
UKHospitality has expressed disappointment in the Bank of England’s decision to hold interest rates at 4.75%, which came after a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three…
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19 DecemberBusiness
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three members voted to reduce interest…
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18 DecemberGovernment
Inflation hits eight-month high of 2.6% in November
Inflation has risen for the second month in a row, rising to 2.6% in November, up from 2.3% the previous month, marking the highest level of inflation in eight months. According to the Office for National Statistics, the main drivers behind the rise were fuel and clothing, where prices rose this…
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Nov- 2024 -8 NovemberTrade Associations
UKH welcomes ‘short-term’ fix of interest rates cut
UKHospitality has welcomed the Bank of England’s interest rates cut from 5% to 4.75%, saying it is “positive news in the short-term”, particularly those still struggling with pandemic debt repayments, and consumer confidence. However, the trade body said it believes the benefits of this cut is overshadowed by the looming…
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7 NovemberNews-In-Brief
Today’s news in brief – 07/11/24
Wetherspoon boss Tim Martin has warned of rising prices following the autumn budget, though the pub group intends to “make every attempt to stay as competitive as possible”. It comes as Wetherspoon has reported that LFL sales in Q1 were 5.9% higher than the same period last year, as bar…
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7 NovemberNews
Bank of England cuts interest rates to 4.75%
The Bank of England has cut interest rates for the second time this year, with rates now cut to 4.75%. The bank voted by a majority of 8–1 to reduce Bank Rate by 0.25 percentage points to 4.75%. One member preferred to maintain the previous rate of 5%. It had…
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Sep- 2024 -25 SeptemberPubs and Bars
Drinks sales drop 5%
Drinks sales in the UK’s managed venues have dropped 5% for the week ended 14 September 2024, far less than the 12% decrease seen the week before. Trading was negative on all seven days of the week, though Saturday fared slightly better than the rest with a decrease of just…
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