Greene King enjoys strong profits boost December 1, 2011 GREENE King, the pub owner and brewer, yesterday reported higher half-year profits, after benefiting from an upturn in trading as consumers continued to eat out in their local pubs. The 212-year-old firm, which runs 2,410 pubs and restaurants including the Loch Fyne seafood chain, said the consumer environment remained tough, with cost inflation rising ahead [...]
Greene King toasts profits rise December 1, 2011 British pubs and brewery group Greene King reported a higher first-half pre-tax profits, benefiting from an upturn in trading as consumers struggling to cope with economic pressures sought solace in their local pub. The 212-year-old Suffolk based firm, which has 2,410 pubs, said the consumer environment remained challenging with cost inflation rising ahead of wage [...]
Shaftesbury gets boost from booming West End November 30, 2011 THE WEST END property company Shaftesbury has hailed it most “prosperous” era despite the economic gloom, as it posted a 12 per cent rise in full year net asset value. Shaftesbury owns a prized portfolio of 500 properties in London’s popular tourist spots including Carnaby Street, China Town and Covent Garden. Brian Bickell, Shaftesbury’s former [...]
Marston’s to create 1,000 new pub jobs November 30, 2011 BREWER and pub chain Marston’s announced it will create another 1,000 jobs next year through its continued expansion, as the group reported a 9.4 per cent rise in full year pre-tax profits. Chief executive Ralph Findlay told City AM that the government needed to be “constructive” and “make the link” between its taxation policy, particularly [...]
QUAFFER’S CORNER November 28, 2011 Wine marketing is a tricky game I was asked for my opinion the other day about iPad wine-lists. For what it’s worth I’m not really in favour for a variety of more or less abstruse reasons. But I want to use it to expand on the larger issue of marketing led decisions, especially where they [...]
RAPID RESPONSES November 27, 2011 From bad to wurst In Friday’s City A.M., Allister Heath quoted economic research concluding that if a restaurant bill is split equally among diners it is on average 36 per cent more expensive than if people paid individually only for what they ordered, pointing out by extension the obvious moral hazard of Eurozone pooled debts, [...]
LORD MAYOR STEPS UP SECURITY FOR AMBASSADORS’ RECEPTIONS November 24, 2011 IT HAD to be the Queen. “No-one else has that level of police presence,” said one City observer when he noted a convoy of four police motorbikes and two impressive cars making its way towards the Walbrook Building in stately fashion. But no – it was Lord Mayor David Wootton, who had stepped up his [...]
I’m dreaming of a blue and green Christmas November 24, 2011 The colour of TV commercial Christmas is snowy-white, accented by the waxy green and red of bows of holly. The Christmas of real life tends to be a slushy brown, accented by car-fumes and accompanied by a complete breakdown of the transport system. While most of us will just slog through it as usual, for [...]
M&B expects to overcome tough conditions November 22, 2011 Restaurant and pub group Mitchells & Butlers has said it is confident it could overcome the tough consumer environment in 2012 after making a good start to its new financial year, helped by mild weather. The company, which rejected two bid approaches from billionaire currency trader Joe Lewis earlier this year, posted full-year adjusted pre-tax [...]
THE WEEK AHEAD November 20, 2011 COMPANY NEWS ● Mitie Group announces its half-year results today. The facilities management company offers a range of building and support services, from industrial painting and engineering, to catering and cleaning. ● Mitchells & Butlers announces its final results and De La Rue announces its interim results tomorrow. M&B runs about 2,000 pubs and restaurants [...]