Propel Morning Briefing Mast HeadAccess Banner  
Propel Morning Briefing Mast Head Paul's Twitter Link Paul's Twitter Link

Navitas Banner
Morning Briefing for pub, restaurant and food wervice operators

Tue 12th Feb 2019 - Stonegate reports full-year like-for-likes up 4.7% as it sees revenue and Ebitda growth
Stonegate reports full-year like-for-likes up 4.7% as it sees revenue and Ebitda growth: Stonegate Pub Company has reported like-for-like sales increased 4.7% for the 53 weeks ending 30 September 2018. Total revenue was up 11.0% to £774.4m while strong conversion of sales growth saw adjusted Ebitda up 11.0% to £114.9m. The company said this was driven by continued investment in the estate, the integration of the Be At One business and capitalising on the trading opportunity presented by the Fifa World Cup. Stonegate delivered continued growth in sales, margin and profit in all four quarters of the financial year from a multi-format trading estate of 725 predominantly drink-led pubs. Following the year end, the company has grown to 772 sites. In its fourth quarter, the company achieved sales, margin and profit growth once again with like-for-like sales up 5.3% and profit growth of 8.0%. The company completed 107 investments during the financial year with all formats being invested in, comprising 101 sites within the like-for-like estate and six from acquisitions during the year. Stonegate said its strategy of consolidating the drink-led high street continues to be successful. The group acquired 42 sites in the period, including the 33 site Be At One business and four sites from Novus in July. A further 11 leases from Novus were assigned following 30 September. Stonegate also disposed of 20 trading sites in the 53-week period. The company said it continues to deliver strong returns on capital. Post the year end, Stonegate reported it had performed strongly over the festive period (1 December 2018 to 1 January 2019). All of the group’s formats performed well during December with total like-for-like sales growth up 7.8%, building on a strong performance over the corresponding period last year when like-for-likes rose 5.5%. The company said, encouragingly, all areas of the country were in growth. In addition, Stonegate has continued its programme of acquisitions into 2019 acquiring the 32 strong Fever Bars business and a further six sites from Novus in January. Chief executive Simon Longbottom said: “Stonegate has enjoyed an exceptionally strong full year in which we have bolstered our growing reputation for being one of the leading operators of high street bars in the UK’s towns and cities. The Be At One business and the sites we acquired from Novus in the year have integrated well into our structure and they are going from strength to strength. Alongside this, we have continued with our programme of investment in our existing estate. We were also able to leverage our strength in sports-led entertainment during the Fifa World Cup in the summer – further establishing our prowess in this market segment. Our recent acquisitions show we remain committed to our strategy to consolidating the UK’s drink-led market through our multi-format strategy.”

Return to Archive Click Here to Return to the Archive Listing
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Premium
Jameson Banner
Co-Kitchens Banner
HDI Banner
Meaningful Vision Banner
Ponte Banner
Lamb Weston Banner
Unilever Banner
Unilever Banner
Santa Maria Banner
Contract Furniture Group Banner
Tofoo Pro Banner
Propel Banner
Venners Banner
Wireless Social Banner
Payments Managed Banner
Deliverect Banner
Hospitality Rising Banner
Cynergy Bank Banner
John Gaunt Banner
HGEM Banner
Zonal Banners
Access Banner
Purple Story Banner
Propel Banner
Christie & Co Banner
Beyond the Bean – Zuma Banner
CACI Banner
Sector Banner
Airship – Toggle Banner
COREcruitment Banner
Tofoo Pro Banner