WHAT THE OTHER PAPERS SAY THIS MORNING September 19, 2010 THE SUNDAYS The Sunday Telegraph CHEYNE CAPITAL SHUTS EQUITY FUND AFTER POOR PERFORMANCE London-based hedge fund Cheyne Capital has closed a much-heralded equities fund only a year after it opened. The fund, which it is believed was equivalent to around 1 per cent of the approximate £5bn Cheyne has under management, closed after a dissapointing [...]
M&B pub sale brings profit September 19, 2010 PUB and restaurant group Mitchells & Butlers (M&B) will release its fourth quarter results on Thursday, a week after the firm started spending the fruits of its £500m asset sale. M&B, which owns Harvester and All Bar One, is expected to post a profit after more than a year of volatile results. The firm announced [...]
BEST OF THE BROKERS September 19, 2010 BLUEBAY Singer Research rates the asset manager a “buy” with an upgraded target price of 400p. The broker sees a second leg of growth available in the emerging markets, and views performance in this region as already ahead of rivals. Overall operating margins should improve from 36 per cent to 40 per cent this year. [...]
Mitchells and Butlers in £19.5m deal for Ha Ha’s September 17, 2010 The Bay Restaurant Group has sold the ha ha bar & grill chain to Mitchells and Butlers for £19.5m. Under the deal Mitchells and Butlers will take over all 22 restaurants on 3 October. Following the sale, Bay will be solely focused on La Tasca, its 70 Spanish tapas restaurants. McQueen advised Bay Restaurant Company [...]
Nando’s to buy burger chain for £30m September 17, 2010 The UK arm of chicken restaurant chain Nando’s has confirmed that it has agreed a £30m deal to buy a rival firm. It plans to take over Clapham House Group, the company behind Gourmet Burger Kitchen (GBK) and The Real Greek. Nando’s said that Clapham’s brands were struggling in the volatile market and needed its [...]
Revenue slips at eaterie chain September 13, 2010 INDIVIDUAL Restaurant Company, owner of the 22-strong Piccolino chain of Italian restaurants, yesterday reported that revenues slipped to £24.6m in the six months to 4 July. That compared with the £25.1m reported in the previous year. However, the company said it had refinanced its loan facility and trading was picking up. Meanwhile rival restaurant firm [...]
BEST OF THE BROKERS September 13, 2010 THORNTONS FinnCap reiterates its “sell” rating on Thorntons saying its recent results marked the latest in a disappointing run for the chocolate firm. It believes long term success depends on the business successfully rebalancing the business away from its retail stores towards other commercial sales. It adds this strategy is unproven. DE LA RUE Evolution [...]
FOCUS ON: CAMDEN September 9, 2010 BAYHAM STREET, NW1 Price: £925,000 This four-bed house is located between Camden Town and Mornington Crescent. It has been renovated to provide a home with master suite, an open-plan kitchen and a reception on the first floor. The house has a landscaped garden with a terrace and a balcony. Contact: Chesterton Humberts on 020 7267 [...]
Prezzo revenue rises as its new outlets pay off September 8, 2010 PIZZA restaurant chain Prezzo yesterday reported a 21 per cent rise in first-half adjusted pre-tax profit, helped by new restaurant launches and improved margins, and said it was confident for the rest of the year. The company, which opened seven new restaurants during the first half, said current trading was in line with expectations. January [...]
PROPERTY FIRM OF THE YEAR | September 8, 2010 THE City’s skyline is changing. Skyscrapers are springing up – okay, more slowly than before, but they are coming. Added to that the commitment to opening retail space and the whole character of the Square Mile is changing. At a time when it might have been easier to abandon their projects, they have shown confidence [...]