Financial articles

Middleby UK showroom 3

Middleby UK turnover up 32% for 2016 as move to new premises brings extra scale

Middleby UK turnover up 32% for 2016 as move to new premises brings extra scale

Middleby UK’s turnover rose a healthy 32% in 2016 as its customer base expanded significantly in the wake of a move to new premises and warehouse facilities, but the growth was dampened by a full-year loss for the business. Sales at the firm, which manages brands such as Houno, Pitco and Blodgett in the UK, increased

Richoux Piccadilly

Restaurant operator Richoux restructures estate during loss-making first half

Restaurant group Richoux has restructured its estate with a view to improving its performance after reporting half-year losses of £1.1m on sales down 20% to £5.6m. The group currently has 17 operating restaurants, which trade under the Richoux, Friendly Phil’s and Villagio brands. During the first half, added focus has been put on improving its

Jack Taylor/Getty Images

Cost pressures put a dent in Pizza Express’ profitability

Pizza Express today revealed that its first-half earnings had taken a hit on the back of what it termed “sector-wide cost pressures” affecting the UK restaurant industry. EBITDA for the 26 weeks to July 2 decreased by 14% to £40.6m, with the chain citing business rates, pay rates and food inflation among the challenges threatening

BRISTOL, UNITED KINGDOM - NOVEMBER 27:  In this photo illustration pound coins are stacked in front of a twenty pound note on November 27 2008 in Bristol, England. Many UK consumers are feeling the pinch as the financial crisis and economic downturn makes borrowing harder and more expensive and the recession starts to bite.  (Photo by Matt Cardy/Getty Images)

Councils ‘sitting on money’ allocated to pub and restaurant operators

Many pubs and restaurants have still not received millions of pounds worth of promised business rates relief after it was promised in the Spring Budget. The promised package of support included £1,000 in relief for pubs with a rateable value of £100,000 or below and a £300 million discretionary fund for local authorities. It has

Commercial Kitchen Show 2016 Day One 16

Rational smashes its own forecasts to record £300m in first-half sales

Rational insists its latest financials show it does not rest on its laurels after first-half sales soared an impressive 17% year-on-year and customers responded “positively” to its push into compact combis and internet-enabled appliances. Management said that its revenue growth had even exceeded its own expectations, as it booked sales of €331m (£299m) for the

A Wetherspoon banner is shown after it was announced that adults with children are only allowed two alcoholic drinks at JD Wetherspoon pubs in order to limit their stay, 3rd January 2008. A spokesman for the company said it was "uncomfortable" with children being on the premises for long periods because of a lack of play facilities. AFP PHOTO/LEON NEAL (Photo credit should read Leon Neal/AFP/Getty Images)

JD Wetherspoon to spend chunk of £65m budget upgrading older pub kitchens

JD Wetherspoon has ring-fenced £65m for upgrading older pubs in its estate this year, including new investments in kitchens and catering equipment. The chain, which numbers 900 sites, said this morning that it is increasing capital expenditure in the current year to bring some of its more established sites up to date. As well as

Wagamama

Wagamama sanctions 10 more kitchen projects to maintain UK sales growth

Wagamama said yesterday it will open another 10 restaurants in the UK over the next 12 months after reporting a record financial turnover of £266m. The pan-Asian inspired noodle chain, which now numbers 172 restaurants worldwide, grew sales an impressive 16% for the year to April 2017, primarily due to the continued expansion of its

Rational combi ovens

Rational UK is a £50m business again as it unlocks private sector growth

Rational’s UK business has crossed the £50m mark again for the first time in two years, its latest financial accounts show. The company registered a turnover of £50.4m for the 12 months to 31 December 2016, an increase of 3% on the £49.5m it made in 2015, according to its annual report published on Companies

Nisbets Exeter 1

Nisbets turnover swells to £321m as it brushes off Brexit fears

Catering equipment supplier Nisbets’ turnover has reached record levels on the back of a string of acquisitions last year, with the company posting sales of £321m in 2016. Ahead of the publication of its latest annual accounts with Companies House, FEJ can also reveal that the Bristol-based outfit achieved a pre-tax profit of £34m. The

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