Here’s how a campaign to slash VAT cut the price of today’s pint September 24, 2014 The price of food and drink in 15,000 pubs and restaurants was cut by 7.5 per cent today as businesses came together to show the benefits of cutting VAT. Unfortunately the cut is a temporary one. Wetherspoons has reduced the price a pint of John Smith’s from an average £2.29 to £1.83 and a plate [...]
Best of the Brokers for 15 September 2014 September 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JD WETHERSPOON Investec has kept its “buy” rating, but upped the target price to 885p from 870p. The broker says full year results were just ahead of expectations, and that cash generation remains strong, while the current year has started well with a [...]
JD Wetherspoon share price up as boss claims VAT “biggest danger to pubs” September 12, 2014 JD Wetherspoon has reported record sales and profit in its full-year results, yet founder and chairman Tim Martin has described the government's VAT on pubs as a danger to the industry. Shares in the company have risen 1.31 per cent in early morning trading. Profit before tax and after exceptional items was up [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
City Moves for 04 August 2014 | Who’s switching jobs August 3, 2014 Sovereign Land The retail and leisure developer and asset manager has announced the appointment of Thomas Mallindine as a senior asset manager. He previously worked at M&G Real Estate for five years, most recently as investment manager, retail and institutional funds. Kingston Smith & Partners The corporate recovery and insolvency arm of Kingston Smith, the accountancy [...]
JD Wetherspoon reports “slightly weaker” sales as World Cup fans drink at home July 9, 2014 Pub group JD Wetherspoon has revealed that sales have been slightly weaker during the World Cup, reflecting suggestions fans have been drinking at home during matches instead of going to bars. The results were released as part of a pre-close statement covering the financial year, which ends on 27 July. The statement also showed that like-for-like [...]
Wetherspoons warns on April pub slowdown May 7, 2014 JD WETHERSPOON yesterday warned that slowing sales in April had left it cautious concerning its final quarter, despite reporting higher third-quarter sales. The pub chain said that sales for the 13 weeks to 27 April at pubs open over a year rose 6.2 per cent, although April had missed its own expectations. “As a result [...]
London Report: Supermarkets’ results to show split in fortunes May 5, 2014 THE varying fortunes of the UK’s supermarkets will be revealed this week as Morrisons gives its quarterly results while Sainsbury’s announces full-year figures. Sainsbury’s annual results are forecast to show that underlying pre-tax profits rose 3.5 per cent to £782m. However investors will be anxious to see the company’s plans for the next year, especially [...]
Britain’s cheapest burger? It’s not where you might think April 30, 2014 Where can you find Britain’s cheapest average high street burger meal? If you answered McDonalds, you’re absolutely wrong. Bargain-basement burgers In fact since 2008 the price of McDonald’s Big Mac, the fast food chain’s most popular burger, has jumped by more than 30%, according to research from stockbroker Shore Capital. Having remained at £2 for [...]
Best of the Brokers for 21 March 2014 March 20, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com SPIRIT PUB COMPANY Numis keeps its “buy” rating and 110p target on the pub group after the alcohol tax cuts in the Budget. The broker thinks the beer tax cut will save Spirit one per cent of profits, compared with two per cent [...]