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Morning Briefing for pub, restaurant and food wervice operators

Tue 28th Apr 2026 - Update: Young’s, Everyman, PureGym and Cake Box
Young’s begins trading on London stock exchange main market in ‘pivotal milestone’: Young’s has begun trading on the main market of the London stock exchange in what it said was a “pivotal milestone” for the business. It comes after Young’s stated its intention to move from AIM in January. The company said at the time: “The company has grown considerably both in size and performance in recent years. The board believes that admission will enhance the company’s corporate profile and appeal, including facilitating investment in the company by a broader group of UK and global institutional shareholders, reflecting the strength, resilience and growth potential of our business model and market position.” Non-executive chair Steve Cooke said: “Admission to the main market of the London Stock Exchange is a pivotal milestone for Young’s, aligning our listing with the scale, heritage and strong performance of the business in recent years. It enhances our capital markets profile and supports the next phase of our long-term growth strategy. On behalf of the board, I would like to thank our shareholders for their continued support, and our talented teams for their dedication and contribution in reaching this point.” Last week, Young’s reported a 4.7% increase in like-for-like sales for the 52 weeks ended 30 March 2026, with total managed house revenue up 4.6%. The company said that its trading for the full year is expected to be “in line with management’s expectations” while the group also completed the acquisition of the eight-strong London gastropub operator Cubitt House.

Premium Club subscribers to receive updated searchable and segmented New Openings Database on Friday: The next Propel New Openings Database will be sent to Premium Club subscribers on Friday (1 May), at 12pm. The database will show the details of 133 site openings, including which company has opened a site or its plans to open one in the future. The database will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published monthly, and Premium Club subscribers will also receive an 8,977-word report on the 136 new additions to the database. It is segmented into seven categories – cafe bakery, casual dining, experiential leisure, fine dining, hotels, pubs and bars, and quick service restaurants (QSR) – making it even easier for users to search. The database includes new openings in the QSR sector such as Korean street food concept Bunsik heading to Southampton, Dutch smash burger brand Fat Phill’s launching in London’s Broadway Market, and Doner Shack, the Berlin fast casual kebab brand, with a new Glasgow opening. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel chief operating officer – editorial, Mark Wingett, and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. A new Premium Unlimited Plus option, which costs £1,995 plus VAT per annum, has some amazing additional benefits including four free tickets to Propel’s paid-for conferences – Excellence in Pub & Bar (19 May), Operational Excellence (9 July) and Talent & Training (15 October) – and the opportunity to run one free sponsored message or situation vacant notice during the year on the newsletter. Email kai.kirkman@propelinfo.com today to sign up.
 
Everyman reports trading in 2026 ‘starts well’ in what will be ‘year of consolidation’, full-year revenue increases to £116.6m: Everyman, the independent, premium cinema group, has reported trading in 2026 has “started well” as it saw an increase in full-year revenue and market share. The company stated: “2026 will be a year of consolidation, focus and foundation building. The board fully supports management’s strategy to prioritise optimisation of the existing estate, deepen audience engagement, modernise technology, and strengthen operational discipline. These actions will position the group for a return to measured expansion from 2027 onwards. Our ambition remains to build on Everyman’s strengths and deliver sustainable long-term value. With a refreshed leadership team, a loyal customer base, and a differentiated brand, the group is well placed to navigate this phase. We enter the year ahead with a clear sense of purpose, a disciplined approach to execution, and a shared focus on realising the business’s full potential.” It comes as the group reported revenue increased 8.8% to £116.6m for the year ending 1 January 2026 compared with £107.2m the year before. Adjusted EBITDA post IFRS-116 grew 4.5% to £17.0m compared with £15.4m the previous year. Pre-tax loss was up 0.3% to £10.2m. Admissions were up 6.1% to 4.4 million from 4.3 million the year before. Food and beverage spend per head increased 5.9% to £11.32 from £10.64 the previous year while paid for average ticket price was up 4.3% to £12.51 from £11.98 the previous year. Market share increased to 5.8% (2024: 5.4%). At the end of the year, the group operated 49 venues with 171 screens following openings in Brentford and Bayswater in London. Chief executive Farah Golant said: “We enter 2026 with positive momentum and clearly defined priorities. The year ahead is about resetting to drive growth by building strong audience engagement, creating operational efficiencies, unlocking emerging new sources of income while reducing debt. Through expert film curation, beautifully designed signature spaces and a differentiated hospitality offering in strategically located venues, the Everyman brand is well placed to meet the demand for premium cinema experience.”
 
PureGym reports revenue increases to £742m on back of record 60 new openings: PureGym, Britain’s biggest health and fitness club operator, has reported revenue increased 23% to £742m for the year ending 31 December 2025 compared with £605m the year before on the back of a record 60 new openings. Adjusted EBITDA improved by 35% to £208.7m (2024: 154.3m), “reflecting the strong revenue growth and excellent cost control with like-for-like operating cost inflation of less than 1% in 2025”. During the period, PureGym acquired Blink Fitness in the US. PureGym said “excellent progress” has been made with EBITDA in this market increasing by 65% to £15m in the first year of PureGym’s ownership, “and a clear growth opportunity ahead in the world’s largest fitness market”. The 60 openings (2024: 46) plus the acquisition of Blink Fitness took the total estate to 714 gyms at the period end. PureGym ended 2025 with 2.3 million members across its markets, with member growth driven by new openings in the UK and Switzerland and maturing gyms. PureGym invested £177m during the period including £76m in new gyms, £11m in upgrading the Danish estate and £22m in the USA on rebrand and investment. Chief executive Clive Chesser said: “In the UK it was a record year of openings, extending our position as the leading operator, and we are now present in communities across the country across a range of formats. In Denmark we delivered a significant improvement in profitability following our estate optimisation and now have the right platform from which to build upon. Consumers continue to navigate cost pressures, but their expectations remain clear: they want access to affordable, quality fitness that is flexible to their lifestyle. Looking ahead, there’s a clear opportunity to capitalise on the momentum we achieved in 2025. We have a high-quality pipeline and expect, across our geographies, to open even more sites in 2026. Looking further ahead we have a medium-term ambition of more than doubling the size of our gym estate, with particularly strong growth expected in the US market, and are excited about the ongoing impact we can have on the health and wellbeing of the communities where we operate across the world.” 
 
Cake Box ‘maintains strong trading momentum’ as revenue passes £60m mark: Cake Box, the specialist retailer of fresh cream cakes, has reported it has “maintained its strong trading momentum” and expects revenue for the year ending 29 March 2026 to increase 43% to £61.2m (2025: £42.8m). The company said profit is expected to be “in line with market expectations”. The company stated: “This performance reflects disciplined delivery against the group’s growth strategy, including higher-than-expected new store openings, continued growth through its omnichannel offering, positive like-for-like sales at Cake Box, and the maiden 52-week contribution from Ambala following its acquisition in March 2025. Cake Box continued to win new customers and deepen engagement through its upgraded CRM platform and enhanced online offering. There was a strong contribution to second-half sales growth from third-party delivery platforms. Together with the group’s own online platform and growing store estate, these channels highlight the strength of the group’s omnichannel model. In its first full year of trading within the Cake Box group, and with the focus on integration and unlocking operational improvements, Ambala traded broadly in line with expectations. During the year, steps were taken to align key processes, enhance distribution capability, strengthen organisational structures, and improve the customer proposition through refreshed branding, updated packaging and enhanced in-store presentation. Following these actions, the board believes the operational foundations are now in place to support future growth and higher profitability as synergies are realised and efficiencies are embedded across the enlarged business.” The group opened 37 new stores, “which reflected continued franchise partner demand and the increasing reach of its brands”. Of these, 25 were Cake Box stores and 12 were Ambala stores, ahead of the group’s target of opening ten new Ambala franchise stores during the year. The group ended the financial year with a total estate of 310 stores. Chief executive Sukh Chamdal said: “We delivered a strong second-half performance, with full-year growth driven by new store openings, positive like-for-like sales, growing sales via third-party platforms and the maiden full-year contribution from Ambala. We are confident in the resilience of our business model, underpinned by a growing estate, continued investment in technology and a strong pipeline of franchise opportunities. At the same time, the impact of recent geopolitical developments is difficult to predict, and we remain mindful of the inflationary risks and challenging consumer backdrop.”

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