Latest / Hospitality News Briefing / Monday 26 October: Punch Pubs returns to profit as annual earnings climb to £106.4m
Transcript
- Good morning. This is the Hospitality News Briefing, from Ops Club. Episode twenty seven, Monday the twenty sixth of October. Here is what the UK trade press reported this morning, collated for operators. Punch Pubs has returned to profit with annual earnings passing one hundred million pounds as the group benefits from site acquisitions and a move towards management-led agreements. Numbers and financial results come first, followed by deals, new openings, and market trends, before we finish with a few things to think about. First, the numbers and financial results. Punch Pubs has moved back into the black with ee bit dah passing one hundred million pounds. As Propel reports, the Fortress-backed group saw revenue climb twelve per cent to three hundred and seventy seven point eight million pounds for the year to the ninth of August. That turned a previous twenty four point one million pound loss into an eighteen point three million pound pre-tax profit. Growth was driven by seventy four new sites and a shift toward their management-led Pub Partnerships model, which now covers more of the one thousand three hundred and twenty seven site estate. Sodexo UK and Ireland has kept its momentum despite a dip in global profits. Hospitality and Catering News reports that while global underlying operating profit fell to eight hundred and ten million euros, organic revenue in the UK grew by two per cent. Regional CEO Jean Renton pointed to new wins at Homerton University Hospital and the purchase of Olive Catering as key drivers for the twenty twenty seven outlook. Three quick updates from Propel, Restaurant Online, and City A M. Restaurant Online says Tossed saw twelve per cent like for like growth this year, which is a big result compared to a four per cent decline in the wider healthy food-to-go market. Propel reports that Goodwood Estate turned a profit of five point one million pounds on turnover of nearly one hundred and fifty million, though they've had to cancel their twenty twenty seven dog show for hotel works. Watergate Bay Group also returned to profit, making two million pounds after selling its Beach Retreats business. Meanwhile, City A M reports that Evoke, who own William Hill, saw revenue slip seven per cent, blaming Manchester City and Arsenal results alongside higher gaming duties. Next, deals and investment. T G I Fridays is looking to expand in the UK again after a period of stabilisation. Propel reports the brand is scouting for new London locations and smaller-format units after a pre-pack administration saved thirty three sites. International president Phil Broad says they're focused on growth now, using value-led menu changes to boost lunchtime trade. Three more from Propel. Heartwood Collection has bought The Angel Hotel in Leamington Spa and plans to reopen it as a forty seven bedroom pub next summer. The food-to-go brand Yolk is looking for three million pounds to fund a one hundred site national expansion beyond London. Finally, Remarkable Pubs has bought The Pineapple in Kentish Town, which is Keir Starmer's local, and they plan to keep the current management and Thai kitchen in place. On to openings and closures. Most of this morning's opening news comes from Propel and Hospitality and Catering News. Propel reports that Chick-fil-A is opening its first UK drive-thru in Hamilton this Thursday as part of a one hundred million dollar investment. PizzaExpress is bringing Houston T X Hot Chicken to Stevenage this Saturday, which is the first of fifty planned locations. Hospitality and Catering News reports that Roberto Costa will launch Casa Macellaio in South Kensington on the fourth of November. Popeyes has signed for a new site in Peterborough, and Fireaway Pizza has unveiled a new open-kitchen format in Bristol to speed up service. Also, Pablo's has signed its first franchise to open in Covent Garden in January twenty twenty seven, and Restaurant Online reports N Q sixty four has launched a Japan-inspired arcade concept in Soho. Next, people moves. Loungers has hired Michelle Pollard-Smith as head of development, as The Caterer reports. She joins from Gails to lead their property strategy as they expand into Germany. Also, Propel reports that Goodwood Estate has named Ben Porter as hospitality sales director, joining from the M C C. Next, trends and market data. Heineken is warning pubs that they need to adapt to the rise of weight-loss drugs. As reported by The Caterer, a company presentation suggests these drugs reduce the desire for long drinking sessions because they make people feel full faster. The brewer is suggesting venues push half-pints, small plates, and low-alcohol options to protect their margins as traditional rounds culture weakens. Two updates from Langton Capital. Consumer confidence has dropped eleven points to minus twenty four as people worry about the Budget. On the markets, the ten-year gilt yield, which is what it costs the government to borrow for a decade, dropped slightly to about five per cent. And finally, other industry news. H M Revenue and Customs has issued a one hundred day warning for the self-assessment deadline on the thirty first of January twenty twenty seven. In the courts, City A M reports that Tesco lost a Supreme Court bid to block an equal pay claim from sixteen thousand workers. Also, Propel notes that the Advertising Association is warning that a junk food ad ban could cost the economy one hundred million pounds. A few things to think about before you get on with the day. Heineken is flagging that weight-loss drugs are hitting beer volumes. Have you looked at your ratio of half-pint to pint sales lately? Employment laws are changing, and the unfair dismissal threshold could drop to six months in January. How robust is your ninety-day performance review process right now? Consumer confidence has taken a sharp dive just before the Budget. Is your Christmas marketing focused on luxury, or are you leadng with guaranteed value? Punch is seeing success by moving more sites to a management-partner model. Could giving your G M s more skin in the game drive better site ee bit dah? The full rundown is at ops dash club dot com, where every story links back to the publication that reported it. Today's pulled from Propel, Hospitality and Catering News, Restaurant Online, City AM, The Caterer, Langton Capital and HM Revenue and Customs - a signpost to their reporting, not a replacement for it. Scripted and read by AI and published without a human check, so check the original before you act on anything. For longer conversations with the people running the sector, find the Hospitality Ops Club podcast. That is your briefing. Have a great day.