What the Sunday papers said
Sunday Times
Pubmaster chairman John Sands does not want to float the 3,200 pub business, preferring to securitise money through bonds to raise the cash needed to develop it further. Sands says: "We have a desire to prove to the world what we can do. We have survived and we can do better. But I never rule out a trade sale. If someone offers me a load of money I will sell if it makes sense." However he said he would not stay with the business following a sale.
Sunday Telegraph
Six Continents expects growth from its soon-to-be demerged pubs division to come from 500 existing unbranded sites which are earmarked for conversion to one of the company's brands, particularly the Ember Inns concept, which generally delivers a 60 per cent increase in sales after conversion.
The Business
Scottish & Newcastle is to reverse deteriorating investor sentiment by meeting a shareholder pledge to divest part of its pub estate for £600m by the spring. Nomura is in advanced talks with S&N to buy 700 of its pubs, with Royal Bank of Scotland and Goldman Sachs among shortlisted bidders.
Mail on Sunday
HP Bulmer chief executive Miles Templeman believes it is possible to retain the company as a viable, independent business despite Bulmer's having issued five profit warnings in recent months. Templeman says he does not want to squeeze apple producers but "there are costs we can take out in almost all areas without damaging the business. Then I need to drive the brands."
Sunday Express
Regent Inns, which has seen its share price fall from almost 180p last year to 64p after half year results earlier this month, rejects suggestions that its Walkabout Australian theme bar chain has a relatively short shelf life. Chief Executive Stephen Haupt points to the fact that the Walkabout in Shepherd's Bush, London has just broken its weekly sales record, taking £136,000. Stanley Leisure is set to tie up a £40m deal to buy London's Palm Beach Casino, put up for sale by London Clubs International which is off-loading casinos to pay debts of £240m. The acquisition is a consolation prize for Stanley, which tried to buy London Clubs outright last year.
The Independent
Diageo is being tipped to serve up a pleasing set of numbers at its interim results this week. Investors are expected to hear some gloomy noises coming from Diageo's Latin American divisions but the US and UK markets are expected to come to the rescue.
