Financial articles

Le Pain Quotidien generates £40m turnover from its 30 UK cafes

Le Pain Quotidien generates £40m turnover from its 30 UK cafes

Latest accounts from Le Pain Quotidien reveal the company achieved sales and profit growth last year as the chain more than held its own in the UK bakery and cafe market. Sales at the company increased 3.5% year-on-year to £39.5m for the 12 months to 2017, while pre-tax profits rose from £907,000 to £1.3m during

Grunwerg laments £700k drop in revenue as costs and competition bite

Professional kitchenware supplier I Grunwerg said “fluctuating costs” and “intense competition” were partly to blame for a decline in turnover of almost £700,000. Sales for the year to 30 April 2017 reached £9.06m, a reduction of around 7% on the previous year when it generated £9.76m, according to its latest accounts. The company, which is

Raymond Blanc’s restaurant chain in rude health after refinancing

Financial results released by Brasserie Bar Co this morning suggest the chain is weathering the Brexit storm, with both sales and profits increasing on the previous period. Turnover at the 36-strong group, which runs Brasserie Blanc and the White Brasserie Company, rose almost 14% to £46.8m for the 12 months to July 2017, an improvement

Sales tumble for owner of Frankie & Benny’s and Chiquito

Like-for-like sales at The Restaurant Group slipped 3% and almost 2% overall last year, the company revealed this morning. Given that it posted sales of £711m last year, the drop is equivalent to around £13m by FEJ’s calculations. Updating on its performance for the 52 weeks to 31 December 2017, the owner of Frankie &

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

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

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

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

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

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