Finance

Mixed reaction to Autumn Statement from sector bosses

22-Nov-2023 By Gary Lloyd

Sector chiefs have issued a mixed response to Jeremy Hunt’s Autumn Statement with many welcoming parts of it while others see “missed opportunities”.

AUTUMN STATEMENT 2023

NLW increase will ‘eliminate low pay altogether’, NI contributions down 2%

22-Nov-2023 By Gary Lloyd

UK Government Chancellor Jeremy Hunt said the rise in national living wage from £10.42 to £11.44 from April next year will “eliminate low pay altogether”.

AUTUMN STATEMENT 2023

Business rates discount extended

22-Nov-2023 By Rebecca Weller

On Wednesday 22 November, Chancellor Jeremy Hunt announced an extension to the 75% discount for business rates up to £100k for the sector as part of the Autumn Statement.

AUTUMN STATEMENT 2023

Hunt confirms alcohol duty freeze

22-Nov-2023 By Rebecca Weller

Speaking in Parliament on Wednesday 22 November Chancellor Jeremy Hunt announced a freeze to alcohol duty until August next year.

What is expected in the Autumn Statement?

22-Nov-2023 By Rebecca Weller

Chancellor Jeremy Hunt will reportedly announce cuts to business taxes and a National Insurance reduction in today's Autumn Statement.

NLW rise could put many operators ‘over the edge’

22-Nov-2023 By Gary Lloyd

Sector bosses fear the Government announcement on a rise in the national living wage (NLW) could put many hospitality businesses “over the edge”.

Confidence rises but business rates must be addressed

22-Nov-2023 By Gary Lloyd

Almost half of hospitality chiefs said they are confident about the sector during the upcoming 12 months despite a multitude of cost pressures, including business rates.

Organiser of Kerridge’s Pub in the Park festivals collapses

21-Nov-2023 By Gary Lloyd

The events organiser behind celebrity chef Tom Kerridge’s Pub in the Park food and music festivals has collapsed, leaving HMRC £1.1m out of pocket.

Inn Collection completes multi-million-pound refurb

21-Nov-2023 By Rebecca Weller

This week's property round-up features refurbishments and investments from Inn Collection, Admiral Taverns, Roxy Leisure and Joseph Holt.

Some 20% of firms at risk of closure in early 2024

20-Nov-2023 By Rebecca Weller

More than a fifth of night-time economy firms face collapsing in January 2024 without “substantial tax reductions”, the Night-Time Industries Association (NTIA) has warned.

Popular Xmas party dates ‘will help push sales up to £12bn’

20-Nov-2023 By Gary Lloyd

Hospitality is set to benefit from a £12bn boost during the festive period when 40m-plus people eat and drink out as the most popular dates for Christmas parties have been revealed.

Number of pub and bar insolvencies jumps 66% YOY

20-Nov-2023 By Rebecca Weller

The number of pub and bar company insolvencies soared by two thirds in the year to September as high inflation and interest rates make turning a profit “impossible”.

THE CASK PROJECT

Rocking Rudolph returns, cancer charity to benefit again

20-Nov-2023 By Gary Lloyd

Greene King is hoping to boost charity coffers again this year with the release of festive favourite cask ale Rocking Rudolph.

Xmas 'make or break' for sector as drinks sales dip

17-Nov-2023 By Rebecca Weller

Christmas period “make or break” for hospitality firms as drinks sales “disrupted” by stormy weather.

Star invests more than £50m into pub estate

17-Nov-2023 By Rebecca Weller

Star Pubs & Bars has injected more than £51m into its pub estate since September last year.

REVIEW OF THE WEEK

Business rates support ‘is the big one’

17-Nov-2023 By Ed Bedington

The Morning Advertiser editor Ed Bedington spoke to Oak Taverns managing director Simon Collinson to get his thoughts on the week's news and the upcoming Autumn Statement on Wednesday 22 November.

Duty increase will 'damage growth and prosperity'

16-Nov-2023 By Rebecca Weller

Voices from across the brewery sector have joined calls urging the Chancellor to scrap the duty increase in February next year in next week’s Autumn Statement.

Price of a pint of lager jumps 12.5% YOY

16-Nov-2023 By Rebecca Weller

The average cost of a pint of draught lager increased 12.5% in the year to October 2023 as pubs and brewers “struggle to survive”.

‘Tale of two halves’ as Young’s reports ‘strong’ results

16-Nov-2023 By Gary Lloyd

London-based pub operator Young’s has reported a 12% lift to its adjusted profit before tax and labelled the 26-week period of its financial year as a “tale of two halves”.

Young’s bid to acquire City Pub Group, valued at £162m

16-Nov-2023 By Shwetali Sapte

The boards of Young’s and City Pub Group have reached agreement on the terms of a recommended cash and share acquisition to which Young’s will acquire City Pub Group.

POLL

How much should pubs charge for Xmas dinner?

15-Nov-2023 By Rebecca Weller

How much should pub operators charge customers for Christmas dinner? Have your say in our snap poll.

Emeny hails ‘excellent financial results’ at Fuller’s

15-Nov-2023 By Gary Lloyd

Pub operator Fuller’s has delivered “excellent financial results” with like-for-like (lfl) sales up 12.7% in the first half of its financial year (H1 2024) compared to the same period last year.

Inflation reduction 'no time to break out champagne'

15-Nov-2023 By Rebecca Weller

Decline in headline rate to inflation “encouraging” but “no time to break out the champagne” for hospitality firms, industry leaders have said.

Administrators appointed to former Wear Inns pubco

15-Nov-2023 By Gary Lloyd

The property company that operated north-east-based pub business Wear Inns after it was acquired in August 2018 has gone into administration meaning all 25 sites are now on the market.

Managed pubs provide bright spot despite sales growth slowdown

15-Nov-2023 By Gary Lloyd

Sales growth slowed at managed pubs in October due to poor weather, including Storm Babet.

Logistics staff contracted by Greene King to strike in Xmas run-up

14-Nov-2023 By Gary Lloyd

Lorry drivers and warehouse staff contracted by Greene King will take part in a series of strikes after a below-inflation pay offer was rejected.

WSTA: 'duty freeze only way to stop budget-busting price rises'

13-Nov-2023 By Rebecca Weller

A freeze on alcohol duty is the “only option” to prevent “inflation-stoking” and “budget-busting” price rises, The Wine and Spirit Trade Association (WSTA) has warned.

Drinks sales see strongest week since September

13-Nov-2023 By Rebecca Weller

Weekly drinks sales saw their best performance since September across the seven days to Saturday 4 November, data from CGA has revealed.

Loungers opens four sites, roll-out plans on track

13-Nov-2023 By Gary Lloyd

Loungers boss Nick Collins has expressed his joy at opening four sites since mid-September and confirmed the company’s fast-track roll-out plans are on track.

OPINION

Unfair tax system must be fixed

13-Nov-2023 By Andy Slee, chief executive, Society of Independent brewers (SIBA)

In a free market economy, Governments help things that are good for society and tax things that aren’t. Life should really be that simple.

Hospitality leaders call for ‘urgent action’ in Autumn Statement

10-Nov-2023 By Amelie Maurice-Jones

Publicans, chefs and pubcos are among those who have signed an open letter calling or 'urgent action' ahead of this month’s Autumn Statement.

Autumn Statement 2023: how can Gov support the sector?

10-Nov-2023 By Rebecca Weller

With the Autumn Statement due to take place in less than two weeks, The Morning Advertiser (MA) has looked at what voices across the sector want from the Chancellor.

Drinks sales up 15% on average during Rugby World Cup

10-Nov-2023 By Rebecca Weller

Pubs and bars scored double-digit growth in drinks sales during the final stages of the Rugby World Cup, data from CGA by NIQ has revealed.

Ollie Vaulkhard: 'It’s not the Government’s job to save you'

10-Nov-2023 By Amelie Maurice-Jones

The Vaulkhard Group is weathering financial challenges, but trade is strong and the director predicts great times ahead for hospitality.

Admiral Taverns posts improved turnover and EBITDA

09-Nov-2023 By Gary Lloyd

Despite economic headwinds creating a “challenging backdrop” for its licensees, Admiral Taverns has posted improved turnover and EBITDA figures in its 2023 financial year (FY23) results.

Plans to build office block next to music pub rejected

09-Nov-2023 By Amelie Maurice-Jones

Councillors have rejected an application for an office block next to a music pub in Sussex following a long-running community campaign.

PROPERTY: EXCLUSIVE INTERVIEW

Robinsons and Almond Pubs invest £500k into Manchester site

08-Nov-2023 By Rebecca Weller

In this week's property round-up, Almond Pubs director Vicki Williams discusses the new look for the Fletcher's Arms in Manchester and ongoing "conversations" about future partnerships with Robinsons Brewery.

Like-for-like sales up 9.5% at JDW

08-Nov-2023 By Gary Lloyd

JD Wetherspoon (JDW) has reported like-for-like (lfl) sales in the first 14 weeks of its financial year (FY24) were 9.5% higher than the same period last year.

JDW hikes Christmas dinner price by 13%

07-Nov-2023 By Amelie Maurice-Jones

JD Wetherspoon (JDW) has raised the price of its Christmas dinner by 13% for 2023, but the pub goliath claims it’s still “excellent value”.

Spending up but consumers 'cutting back' ahead of Xmas

07-Nov-2023 By Rebecca Weller

Spending in pubs and bars grew 5.9% in the year to October, data from Barclaycard has revealed.

BIG INTERVIEW

The Big Interview: Ollie Vaulkhard is playing the long game

07-Nov-2023 By Amelie Maurice-Jones

Light streams into the Newcastle-based eatery Bealim House as Ollie Vaulkhard logs on for our interview.

Oakman updates on challenges and improvements

06-Nov-2023 By Nikkie Thatcher

CEO of multiple operator Oakman Group Peter Borg-Neal has updated the company’s response to industry challenges and trading improvements in a recent shareholder letter.

Rate of site closures slows

06-Nov-2023 By Nikkie Thatcher

While the number of Britain’s licensed premises dropped by 3.6% over the past 12 months, the pace has slowed as the ear has gone on.

OPINION

Can't afford to save the planet?

06-Nov-2023 By Greg Pilley, managing director, Stroud Brewery

How often do you find yourself having to balance your values against cost?

Firms to reduce investment and staffing without rates help

04-Nov-2023 By Nikkie Thatcher

More than half of hospitality businesses will be forced to cut staffing levels and reduce investment without Government intervention on business rates, research has found.

FEATURE - Spirits

FEATURE: Get into the spirit of increasing sales at your pub

03-Nov-2023 By Nigel Huddleston

Cocktail culture and the popularity of classic mixer serves such as the G&T have made spirits one of the most dynamic sections of the on-trade drinks market in recent years.

Drinks sales hit by reduction in 'big nights out'

03-Nov-2023 By Rebecca Weller

Daily drinks sales hit by “negative” trading figures as consumers “restrict” big nights out.

Sector 'deeply concerned' as BoE keeps interest rates at 5.25%

03-Nov-2023 By Rebecca Weller

Industry leaders have expressed “deep concern” for the future of the sector as interest rates remaining at 5.25% “piles further pressure” on hospitality firms.

POLL

Should pubs allow non-paying guests to use the toilet?

01-Nov-2023 By Rebecca Weller

Should pubs allow non-paying customers to use the toilet? While it may be seen as the hospitable thing to do, there can be a cost to operators involved and rude guests to contend with.

Real Brewing Pub Company enters administration

01-Nov-2023 By Amelie Maurice-Jones

Real Brewing Pub Company, the pub operation arm of Derby Brewing Company, has entered administration due to Covid debts and soaring costs.