What the Sunday papers say - September 02
Mail on Sunday
Whitbread has put 34 of its Brewers Fayre restaurants up for sale as part of an attempt to sort out its empire of cafés and restaurants. Whitbread said earlier this year that it was looking to sell 140 of its sites, including some Café Rouge and Bella Pasta outlets, but said nothing about selling Brewers Fayre.
Whitbread is also understood to be interested in the Aroma chain of coffee shops which has effectively been put up for sale by its owner, McDonald's. Whitbread has denied rumours that it plans to quit restaurants to concentrate on its hotel and leisure operations.
Investment company Guinness Peat Group (GPG) is to step up pressure on London brewer Young & Co by writing to shareholders demanding changes in ownership. Earlier this year GPG urged the brewer to go private calling on the Young family to buy back shares from investors. The proposal was defeated at an extraordinary general meeting. GPG owns 25 per cent of the company, but has only 10 per cent of the voting rights. It argues the Young family should extend voting rights to more shareholders or take the company private.
Sunday Times
Drinks company Diageo is to report its results on Thursday. Overall profits are expected to show that full-year pre-tax profits have risen to £2bn.
JD Wetherspoon is expected to report strong profits this week. Fourteen new pubs have been opened in the last quarter alone and chairman Tim Martin is said to be interested in Yates's pub group.
Sunday Express
Three senior directors have bought shares in Whitbread which means its shares are now looking to be better value. The Sunday Express tips that Whitbread will sell its restaurants, as it sold its pubs earlier this year.
Anthony Fuller, chairman of Fuller, Smith and Turner and Patrick Read, chief executive of Young's have been profiled in the Sunday Express. Both men said business was doing well, although Mr Fuller admitted that foot-and-mouth disease has had an effect on trade.Both companies attributed their success to their beers although Mr Fuller said "quality" was the winning formula, while Mr Read said: "Young's has the most wonderful publicans". Both companies are said to be looking to expand.
Independent on Sunday
Diageo's results on Thursday are expected to be packed. It will be interesting to see if reducing its marketing spend on core brands has increased profits. Investors will also want to know if the Pillsbury disposal to General Mills, the completion of the Seagram acquisition and the ownership of the Captain Morgan rum brand have been completed.
Real ale fans in Orkney have been pushing the boundaries of authenticity this week, by sampling stone age beer flavoured with dung. The ale was recreated after historians discovered what they claim is a 5,000-year-old pub and brewery on the island. Now the island's real ale fans have been invited to put the brewing heritage to the test and sample the beer - in the full knowledge that it has been brewed in clay pots bearing the traces of baked animal droppings. Merryn Dineley, a historian from Manchester University and chief brewer of the beer, said the dung is an essential part of the flavour, but admitted she had removed the deadly nightshade, henbane and hemlock found in the original recipe.
The Observer
No industry related news
Scotland on Sunday
Bruichladdich, the Islay whisky distiller saved from closure last year by a consortium of private investors led by Mark Raynier, is to reveal plans for a £4m new investment and three new single malts on Wednesday.
