Tag Archives: financials

Winterhalter eyes better gross margins and less low value business

Winterhalter UK bosses have turned their attention to gross margin improvement and curtailing low value business as they bid to ensure the operation returns to the black again. Accounts filed with Companies House last week revealed the business suffered a net loss of £818,000 for the 12 months to 31 December 2017. The deficit represents

Losses mount at MOD Pizza as chain bids to establish UK footprint

Directors of MOD Pizza UK insist like-for-like revenue growth remains their key performance indicator despite racking up losses of £11m linked to getting the business established. The chain was incorporated midway through 2015 and did £640,000 in turnover during 2016. Last year its revenue increased to £3.7m as it ended the period with five restaurants,

Mitchells & Butlers food sales back on par with drinks following seasonal swing

Mitchells & Butlers said yesterday that cost headwinds remain largely unchanged and it expects to see lower margins this year, but overall business has strengthened over the last two months. In the eight weeks to 22 September, like-for-like sales growth was 2.2% on a calendar basis, aligning dates to account for the impact of the

Catering firm cooks up sales of £30m as it admits ‘stars aligned’ for business last year

Contract catering provider Wilson Vale has grown its turnover to in excess of £30m for the first time in its history. Audited results for the year to December 2017 reveal the company’s sales grew 20% year-on-year after it added eight major contracts to its portfolio and extended several others. The company is one of the

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 &