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Morning Briefing for pub, restaurant and food wervice operators

Mon 14th Mar 2016 - Tossed goes cashless, plus New River, Fever-Tree
Tossed first to go cash-less: Healthy eating brand Tossed has become the first in the UK to stop accepting coins or notes and only take payments by credit or debit cards, or contactless methods such as Apple Pay. Two new outlets in central London will not only refuse cash payments, but they will also require customers to place their orders using self-service kiosks. The new systems will replace manned tills entirely, and will invite customers to choose their food using touch-screen menus. The outlets will have 15 self-service kiosks and customers will be able to pick food up from a collection point, whether they have ordered in-store or through Tossed’s website or mobile phone app. Tossed, which specialises in healthy salads and wraps, said its goal was to make the customer experience slicker and free-up staff to make fresh meals. It is also seeking to remove paper from its shops in a bid to be more environmentally friendly. Vincent McKevitt, founder of Tossed, said: “Most operators face speed and capacity issues at lunchtime, but ours are intensified because we make our food fresh-to-order and most guests like to customise their food to suit their health and taste requirements. This unique solution allows our team to focus their energy on our speed of production. Guest feedback from the trials has been very positive: people like to be able browse in their own time and customise what they eat, completing a great experience with tasty, bespoke, healthy food, served quickly.” Tossed plans to roll out the cashless self-service model to all of its 26 restaurants.

NewRiver Retail wins planning consent for scheme to include five restaurants in Burgess Hill: NewRiver Retail, the UK REIT specialising in value-creating retail property investment and active asset management, has reported that Mid Sussex District Council’s Planning Committee has unanimously granted planning permission for plans submitted by NewRiver for the mixed-use regeneration of the Martlets Shopping Centre in Burgess Hill, West Sussex. The £65 million development proposal submitted by NewRiver totals 200,000 square foot and includes a ten screen multiplex cinema, a 63 bed Travelodge hotel, five leading national restaurants, 142 residential units, a purpose-built modern library, gym, over 500 car-parking spaces and the creation of an additional 70,000 square feet of retail space for which the company is in advanced legals with a number of national operators to secure pre-lets, in line with the company’s risk-controlled development strategy. Construction for this major regeneration development will be delivered in a phased programme with phase one scheduled to commence in early 2017. NewRiver acquired the Martlets Shopping Centre in November 2010 as part of the CReAM portfolio of five shopping centres, for £12 million, 8.51% net initial yield and has worked closely with Mid-Sussex District Council since to achieve this milestone for its plans to regenerate this fast growing commuter town. Allan Lockhart, property director, at NewRiver said: “We are delighted to have received unanimous support from Mid Sussex’s Planning Committee to grant planning permission, marking a major milestone in our £65 million development plans for Burgess Hill which will serve as a catalyst for economic and social regeneration in the area. Our proposed plans include pre-lets with some of Europe’s best in class retail and leisure operators, and in collaboration with Mid-Sussex District Council, will create a dynamic mixed-use town centre in West Sussex that is fit for purpose for the 21st century. This major development will be delivered in line with NewRiver’s risk-controlled development strategy and is expected to generate attractive returns for our investors and a revitalised town centre for Burgess Hill.”

Fever-Tree reports sales up 71% to £59.3m: Fever-Tree, the supplier of premium carbonated mixers, has reported sales up 71% to £59.3m in the year to 31 December 2015. It had an adjusted Ebitda up 82% to £18.2m. Charles Rolls, executive deputy chairman of Fever-Tree, said: “Fever-Tree’s on-going success is driven by a global consumer desire and demand to drink premium mixers to complement their premium spirits, and our strong first mover advantage. We are increasingly well positioned to take advantage of the growth in both the On and Off-Trade in all geographies with the brand’s growing international reputation. We maintain that the premium segment is still in its infancy and will continue to outperform the other drinks categories as global cross-category premiumisation continues to gain prominence.” Tim Warrillow, chief executive of Fever-Tree said: “2015 was an exceptional first full year for Fever-Tree as a public company in which we continued to strengthen our reputation as the leading international premium mixer brand. In our tenth year of trading we achieved a 71% increase in revenue and 82% increase in adjusted Ebitda, underpinned by strong, improving margins. Growth was strong across all of our four main geographical regions illustrating the global appeal of the brand. We have had an encouraging start to 2016 and look forward to the future with confidence.”

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