Tag Archives: financials

Victor counter

Component cost hikes so high they ‘could not be absorbed by the industry’, says Victor

Component cost hikes so high they ‘could not be absorbed by the industry’, says Victor

Bosses at Victor Manufacturing have described how it was simply impossible for catering equipment manufacturers to absorb increases in raw material costs in the wake of last year’s Brexit vote. The past 18 months have seen hikes across the board as manufacturers and importers have tweaked their price lists in response to dramatic currency fluctuations.

Fuller's kitchen

Fuller’s overcomes ‘unprecedented influences’ as sales skip by 6%

Fuller’s has battled through what it said were ‘strong headwinds’ in the first half of its financial year, turning over £209m in the 26 weeks ended 30 September 2017, up from £198m in the previous period. The group’s chief executive, Simon Emeny, noted a tough period of trading and “unprecedented influences” on the business, especially

Alex restaurant

Mitchells & Butlers turned off by retail and leisure park restaurants

Mitchells & Butlers could look to reduce its exposure to retail and leisure park locations in future after admitting they pose the biggest challenges from a profitability point of view. The pub and restaurant giant has spent this year completing a review focusing on the challenges around sites not currently generating an economic return. Its

Middleby UK showroom 3

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

Paternoster Chophouse

Owner of ‘First Dates’ restaurant comes back to earth with a bump after posting record revenues

Restaurant group D&D has bucked the trend of operators blaming Brexit for softening financial results by recording the highest turnover in its history, but warned that it has found the last few months tough. The group, which operates a string of restaurants in London, Leeds, Paris, New York and Tokyo, posted sales of £125m for

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

MIAMI, FL - APRIL 27:  Chipotle restaurant workers fill orders for customers on the day that the company announced it will only use non-GMO ingredients in its food on April 27, 2015 in Miami, Florida.  The company announced, that the Denver-based chain would not use the GMO's, which is an organism whose genome has been altered via genetic engineering in the food served at Chipotle Mexican Grills.  (Photo by Joe Raedle/Getty Images)

Chipotle’s UK profitability ‘impacted’ by illness incidents that rocked US business

Chipotle Mexican Grill has conceded for the first time that an E.coli outbreak which rocked its US operations “adversely impacted” the sales and profitability of its UK operations last year. Accounts logged with Companies House last week reveal that UK sales fell 5% to £7.8m for the year to 31 December 2016, while gross losses

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M&B nets £46m from sale of 79 sites that don’t fit with strategy

Mitchells & Butlers has raised £46m from offloading 79 sites in the last few months, it revealed this morning. The pub and restaurant chain sold 73 of the properties to property investment company Aprirose in a package deal and it will now run them under the Milton Pubs and Taverns brand. A further six sites

Tim Martin, JD Wetherspoon

Suppliers have more to fear from protracted Brexit talks than us, warns JDW boss

JD Wetherspoon chairman Tim Martin warned this morning that its suppliers have most to fear from Brexit negotiations as he once again used the company’s latest financial update to outline his views on the EU.   Mr Martin, a staunch Leave campaigner, said that the current “posturing and threats” from EU negotiators would inevitably drive

Yo! Sushi

YO! Sushi tops £88m sales as it plans more UK restaurants

Japanese kaiten conveyor belt restaurant chain YO! Sushi turned over £88.4m last year as it implemented a series of strategic changes to its portfolio in a bid to drive growth in 2017. The chain recorded adjusted EBITDA of £10.7m in the UK for the 12 months to 27 November 2016, equivalent to around 12% of