Finance

What's in the news 12 April

Review of the Week

The art of keeping things simple!

By Ed Bedington

The MA's Ed Bedington caught up with Livelyhood non-exec director and business consultant Karen Bosher for her take on the weeks news which has seen a number of results and mergers

(image: Getty/gahsoon)

March consumer spending up 3.2%

By Nikkie Thatcher

FA Cup fixtures, the Six Nations tournament and St Patrick’s Day helped drive a 3.2% rise in consumer spending last month (March) up from 1.1% in February, according to reports.

Financial results: despite losses, RedCat has seen turnover more than double (credit: Getty/PeopleImages)

RedCat posts £31m loss

By Gary Lloyd

RedCat Pub Company has posted a pre-tax loss of £31m for the year in its latest annual report.

Number crunching: the average price of a pint of beer is £4.94, according the data from The Morning Advertiser (image: Getty/Rouzes

EXCLUSIVE: Average lager pint prices across GB

By Nikkie Thatcher

A survey of The Morning Advertiser readers has shown the difference in pricing of beer across a range of regions and has taken a closer look at the lager category.

Demand for parity: SIBA CEO Andy Slee says investors and Government are not listening to the sector

OPINION

OPINION: How are we viewed by the outside world?

By Andy Slee, chief executive, Society of Independent Brewers & Associates (SIBA)

I recently took a call from a broadsheet journalist wanting to do a piece on “Why all breweries are closing and why cask beer is dead?”

Sector impact: UKH boss Kate Nicholls says hospitality continues to suffer as collateral damage in the rail dispute (image: Getty/ coldsnowstorm)

Train strikes to hit sector for £387m

By Nikkie Thatcher

Industrial action on train services this weekend (Friday 5 April to Monday 8 April) is estimated to cost the hospitality industry £387m.

Pub operators urged to look for positives

OPINION

Trading is tough but we need to start sharing the positives

By Ed Bedington

It’s a little too easy to allow ourselves to wallow in pessimism, (particularly when you record a podcast with a fully qualified professional moaner), but sometimes we need to take a step back and appreciate some of the positives out there.

(image: Getty/georgeclerk)

Average hospitality salary drops

By Nikkie Thatcher

The average salary of hospitality workers has decreased this year when compared to 2023 a report has uncovered.

Menu changes: many chefs have started using lamb rump instead of a rack of lamb to help keep it at an affordable price (image: Getty/StockNinja)

Operators advised to put lamb on specials menu this Easter

By Nikkie Thatcher

With the cost of lamb high as a result of strong demand from across the globe and UK production reduced, one purchasing expert has urged operators to remove lamb from the main menu and offer it on the specials board instead.

Alarming rate: number of NTE firms in the UK drops by 15.5% (Credit: Getty/SolStock)

Number of NTE firms drops by 'staggering' 15.5%

By Rebecca Weller

The number of night-time economy (NTE) businesses in the UK has dropped by a “staggering” 15.5%, new research from Night-Time Industries Association (NTIA) has revealed.

Business results: the trading update from JD Wetherspoon covered the 26-week period to 28 January 2024 (image: Getty/PeopleImages)

JDW ‘has potential for 1,000 sites’

By Nikkie Thatcher

Pub giant JD Wetherspoon (JDW) identified the possibility of increasing its estate by just under a quarter (23%), in its latest trading update.

Price increases: lager costs up 5.6% year-on-year (Credit: Getty/	Jack Andersen)

Beer prices up 5.6% year-on-year

By Rebecca Weller

The average cost of a pint of lager in pubs saw a 5.6% uptick in the year to February 2024, new figures have revealed.

Priced out: Breweries battle soaring costs and the cost-of-living crisis (Credit: Getty/MontyRakusen)

Insolvencies of breweries jump 82%

By Amelie Maurice-Jones

The number of UK breweries going insolvent has jumped 82% in the last year, according to audit, tax & advisory firm Mazars.

Trading update: Sarah Willingham-led Nightcap acquired The Piano Works in February 2024

Nightcap positive despite tough trading in 2024

By Gary Lloyd

Nightcap – the operator of about 50 bars under brands including The Cocktail Club, Barrio Familia, the Adventure Bar Group and The Piano Works – expects trading to continue to be tough in 2024 but is positive for the future.

Hospitality grows 1.4% in February 2024

1.4% growth in Feb ‘disappointingly slow’

By Amelie Maurice-Jones

Britain’s top hospitality groups achieved like-for-like sales growth of 1.4% in February, the latest CGA RSM Hospitality Business Tracker has revealed.

Essential part of life: research shows consumers prioritise support for on-trade despite economic pressures (Credit: Getty/SolStock)

Consumers prioritise support for pubs

By Rebecca Weller

Almost two thirds of consumers believe pubs play a vital role in their local community and continue to prioritise on-trade visits despite economic pressures.

Advice given: Nationwide Energy has outlined ways in which operators can improve their credit score, which can be beneficial when considering suppliers (image: Getty/Galeanu Mihai)

UTILITY UPDATE WITH NATIONWIDE ENERGY

Find out the latest on the utility sector

By Nationwide Energy

With energy markets continuing to fluctuate and operators facing uncertain costs, the MA has teamed up with Nationwide Energy Consultants to provide our readers with a regular update to keep you one step ahead when it comes to the utility sector.