Spirit in the sky: City Pub Group sees profits jump after bumper World Cup summer September 20, 2018 Aim-listed pub landlord City Pub Group has posted a 73 per cent rise in pre-tax profit on the back of a bumper summer of good weather and a successful World Cup run. Profits before tax rose to £1.6m in the first six months of 2018, rising from £0.9m compared with the same period last year, [...]
Not what the doctor ordered: Spire suffers profit hit amid drop in NHS referrals September 18, 2018 UK private healthcare provider Spire was diagnosed with falling profits in the first six months of 2018, as a drop in referrals from the NHS ate away at the company’s projected core earnings. Spire Healthcare Group’s share price tumbled more than six per cent in early morning trading, after the firm predicted full-year expected earnings [...]
Greene King strikes £50m deal with Scottish Widows to cover pension liabilities September 17, 2018 Pub chain Greene King today announced it had struck a £50m deal with Scottish Widows to cover some of its pension liabilities. The company's first so called bulk annuity transfer will see Scottish Widows cover Greene King's responsibilities to pensioners in its final salary Spirit Pension Scheme. There may also be future moves to secure further annuities in [...]
Spirits in the sky: JD Wetherspoon axes Jägermeister and French brandy in post-Brexit plan September 12, 2018 JD Wetherspoon is ditching European spirits such as Jägermeister for non-EU equivalents in a bid to lower prices across its 880 UK pubs. Replacing the ousted continental brands, which also include French brandies Courvoisier VS and Hennessy Fine de Cognac, will be US drink E&J Brandy, Australia’s Black Bottle and Strika, a herbal liqueur produced [...]
Greene King toasts record revenue as retail growth outperforms market July 1, 2015 The figures Pub group Greene King enjoyed record revenue of £1.3bn in the year to the end of March, yet investors were warned not get too carried away as profit before tax fell 2.7 per cent to £168.5m. Read more: Popped corks as Greene King-Spirit pub partnership gets green light The FTSE 250-listed company's retail revenue [...]
Popped corks as Greene King-Spirit pub partnership gets green light June 22, 2015 Pub operator Greene King yesterday toasted the competition watchdog’s approval of its £774m takeover of Spirit. The Competition and Markets Authority (CMA) said it was satisfied the proposed sale of 16 pubs by the combined group would fix concerns raised by the company’s acquisition of Spirit Pub Company, and would not be referring the [...]
Greene King leaps last hurdle in Spirit merger June 11, 2015 Greene King moved within touching distance of completing its takeover of Spirit Pub Company yesterday after announcing the acquisition was no longer subject to regulatory approval. The announcement that the company had waived approval from the Competition and Markets Authority (CMA) means the acquisition is expected to take place within weeks. Last [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]
Greene King and Spirit deal gets amber light from market regulator May 11, 2015 The Competition and Markets authority (CMA) yesterday gave pub company Greene King and Spirit a week to sort out hurdles that could halt their planned £774m merger. The authority said the current proposal would “substantially” lessen competition in the pubs sector. However, it pointed to difficulties in only 16 locations, which is small considering that [...]
Greene King hit by drink-driving rules in Scotland May 5, 2015 Pub and restaurant group Greene King yesterday blamed recently tightened drink-driving laws in Scotland for flat sales. The company, whose brands include Old Speckled Hen and Abbot Ale, plus the Hungry Horse and Loch Fyne chains, reported just a 0.4 per cent increase in sales for the 51 weeks to 26 April, but said sales [...]