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Wed 3rd Sep 2014 - KFC reports UK turnover and profit boost
Kentucky Fried Chicken reports UK turnover and profit boost: Kentucky Fried Chicken, led by Martin Shuker in the UK and owned by Yum! Brands, has reported a riser in turnover of 5.5% to £446.4m in the year to 1 December 2013, from £423.35m the year before. Pre-tax profit rose to £40.11m from £39.14m in 2012 The company said: “Operating profit of 9.5% has declined slightly when compared to the previous year (2012: 10.1%) due to increased administrative expenses of £8.6m to £174.3m (2012: £165.6m) driven primarily by increased labour costs (£9.3m) in line with the increase in average staff headcount and depreciation (£4.1m) due to continued investment in new stores, store remodels and equipment. This has been offset by cost-saving initiatives implemented across the business during the year under review and as a result we have delivered operating profit of £42.5m (2012: £42.9m)." KFC had net assets of £132.6m at the end of the 2013 financial period. It said: “A key element of our ongoing strategy is to review our estate to identify where franchise ownership represents greater potential for the brand in our market. This is a positive indication of our plans to focus our resources for future growth and to enable franchisees to grow and add value, especially where there are synergies with adjacent ownerships and assets.”
 

Be At One reports store ebitda up 30% to £4.2m: The London-based cocktail bar brand Be At One has reported turnover up 44% to £16.7m in the year to 30 March 2014. Like-for-like sales growth was 9%, the second consecutive year of 9% growth. Store-adjusted ebitda rose 30% to £4.2m while company-adjusted ebitda increased by £800,000, or 51%, from £1.6m to £2.4m. Cash flow generated from operating activities increased 31% year-on-year from £1.6m to £2.1m. Expenditure on fixed assets was £3.4 in the period. New facilities were agreed with Lloyds Bank that will allow the company to continue its planned roll-out over the next two to three years, it said. Five new sites were opened in the period. Gross profit margin was stable at 71%. Pre-tax profit was £371,000, up from £331,000 the year before. Pre-opening costs rose to £516,000 from £288,000. Exceptional costs rose to £204,000, with a fixed asset write-off of £193,000, up from £68,000  


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