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Tue 21st Feb 2017 - Laine profits boost, Deltic new FD, D&D appoints three new directors
Laine Pub Company reports turnover and Ebitda growth: Multiple pub operator and brewer The Laine Pub Company has reported turnover up more than 10% and operating Ebitda up more than 23% for the financial year to 30 June 2016. The group, which operates 48 pubs in the London and Brighton areas and which brews from four on-site microbreweries plus a full production brewery in central Sussex, saw Ebitda rise to £3.9m on turnover of £30.4m, up from Ebitda of £3.1m on sales of £27.5m the previous year. The company stated that performance was particularly pleasing “in the London estate where sales were up nearly 45%”. It said that like-for-like Ebitda in London had also grown significantly “showing the strength and quality of sites acquired in prior years, particularly the Four Thieves in Battersea and the People’s Park Tavern in Hackney which are both showing very strong growth”. Performance was positive in the Brighton pub estate with sales and Ebitda up nearly 5% and 7% respectively. The company reported that this would have been even greater but for the major roadworks on Brighton seafront that impacted high season trading at two of its busiest sites, Tempest and the Fortune of War. Commenting on the 2016 results, chairman Gary Pettet said: “We are very pleased with the performance of the business in 2016 and are excited about the pipeline of London acquisitions we are considering for 2017. We have had a strong start to FY17 and believe we will further enhance this growth through acquisitions in the second half of the year.” Laine’s first-half performance in FY17 has shown a higher growth rate than the same period in the previous year, with sales up 15% for the six months to 31 December ‘16. Commenting on the performance, chief executive Gavin George said: “A good summer and an excellent Christmas have helped us exceed expectations in the first half of our financial year. Rail journeys into and out of Brighton became more challenging over the period but Laine’s like-for-like sales for the half year remained nearly 10% up.” The same six-month period also saw the opening of the Ladywell Tavern in Lewisham (Laine’s first managed expert site with Enterprise Inns), the acquisition of the Honor Oak pub in Forest Hill, south east London, and the launch of a new craft beer portfolio under the Laine Brew Co business. The core range, which includes Source Pale Ale and Ripper IPA, are the first beers to be brewed at Laine Brew Co’s new 65 hectolitre facility in Adversane, Sussex.

Deltic Group appoints new finance director: The Deltic Group, the UK’s largest operator of premium late-night bars and clubs, has appointed Alex Millington as group finance director. Millington has been with Deltic since 2013 – he joined the group as the head of finance and was responsible for the management of the 18-strong finance department. In his new role, his remit is extended to include the oversight of the property, procurement, payroll and IT functions as well as greater involvement in the implementation and design of group strategy. He has over 15 years’ experience, with a number of senior roles including financial controller at European speciality packaging and envelope manufacturer Bong UK and financial analyst for Rapak, a subsidiary of DS Smith, the international packaging group. Peter Marks, chief executive of The Deltic Group, said: “After a long and careful selection process, we are delighted to announce the appointment of Alex as group finance director. He has a fantastic range of skills and experience. We are confident that he will continue to make a valuable contribution to Deltic and I look forward to working with him.” Millington added: “I look forward to working with the executive team and the board as we continue to drive the business forward.”

D&D London strengthens management team with three new directors: Restaurant group D&D London has strengthened its management team ahead of its planned expansion with the appointment of three new directors. Sarah Jackson has joined as people director to lead D&D’s global HR strategy. She was previously at the Maybourne Hotel Group, where she was group HR director. Prior to that role, Jackson held HR director positions in the luxury retail sector for various brands, including de Beers (part of LVMH) and Links of London. Michael Farquhar has joined as operations director, a new role within D&D with the responsibility of managing all UK operations. He was previously global operations director at Cé La Vi Group in Singapore, where he led the operations team. Farquhar has also had extensive food and beverage experience in the hotel sector including spells at Four Seasons and Intercontinental. Meanwhile, Paul O’Shaughnessy has been appointed purchasing director. He has joined from Harrods where, as purchasing director, he led the buying strategy for its restaurants and retail business. Previously O’Shaughnessy held a number of senior purchasing roles within various major retail and restaurant groups, including Safeway, Whitbread and BHS. All three directors will report into chief operating officer Toby Harris. Chairman and chief executive Des Gunewardena said: “These appointments have been made to further strengthen D&D’s management team ahead of some significant expansion planned for 2017 and beyond. With five new restaurant launches confirmed for 2017 and a number of others in the pipeline, we are very positive about the prospects for D&D’s business in the UK and overseas.”

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