Financial articles

UK cost pressures drive down Pizza Express earnings in ‘resilient’ half year financials

Pizza Express described its half yearly UK performance as ‘resilient’ following the publication of its latest financial results. Group earnings before interest, tax, depreciation and amortisation were down 16.3% on last year, to £35.1m. Pizza Express put this down to industry wide cost pressures in the UK and lower operation margins internationally. Despite this, group

A Richoux restaurant in Piccadilly, unrelated to the news of the potential sale.

Richoux trading update shows plans to generate £1.35m from sale of London restaurant

Richoux Group, the owner and operator of 18 sites in the south, has provided a trading update for the half year period ended July 1, giving insight into the sale of a London-based restaurant. The group, which consists of the Richoux, Villagio, Friendly Phil’s and The Broadwick brands, has ‘remained focused’ on cost reduction and

London-based restaurant Villandry plunges into administration  

Villandry, which had restaurants in St James’ and Great Portland Street, has closed its doors following financial trouble. Villandry made the announcement via its website’s homepage, which reads ‘Sadly, we are now closed’. It also put out a short statement on the site which states: “Martha Thompson and Sarah Rayment of BDO LLP were appointed

“Business as usual” says Gaucho management

The Gaucho Group management team has confirmed that for the company’s 16 Gaucho restaurants, it’s ‘very much business as usual’. The announcement follows the news that Gaucho had begun to struggle financially and had deemed it necessary to appoint an administrator, after its sister brand CAU closed its branches. This week, rumoured takeover bids for

Wagamama sales growth up by 7.4% in strong financial year for the chain

Wagamama has released its financial report for the year, showing like-for-like sales growth of 7.4% year ending 29 April. Group turnover also increased by 13% and rose to £300.6m in 2017/18, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also went up. Rising to £45.7m from £45.5m, EBITDA showed an increase of 0.4%