Tag Archives: financials

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

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

JD Wetherspoon commits to 10 new kitchen projects this financial year

JD Wetherspoon will continue to open new pubs this year, the company said this week. The chain, which numbers 900 properties, confirmed that its intention is to open “approximately” 10 pubs in the current financial year, which ends in June. Three pubs have already opened within the last six months, with 10 sites sold during

ITW transacted £1.5 billion worth of kitchen hardware last year

ITW’s global catering equipment business is still worth a colossal $2.12 billion (£1.5 billion) in sales annually after it succeeded in marginally surpassing the previous year’s figure in 2017. The company is one of the largest suppliers of commercial kitchen equipment in the world and owns a number of key foodservice equipment brands, including Hobart,

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 &

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 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

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 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

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

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

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