Johnson warned Covid-19 plan could end pub industry 'in days'
17th Mar 2020 09:50
(Sharecast News) - The UK's pub industry warned it faced an existential crisis and could be lost in "days" after the government advised people to avoid bars and restaurants to combat the spread of coronavirus.
Read moreCanaccord Genuity hikes target on Punch Taverns
16th Dec 2016 09:44
(ShareCast News) - Analysts at Canaccord Genuity hiked their target price for shares of Punch Taverns following the company's acceptance of the 180p per share cash offer from Vine Acquisitions, the acquisition vehicle for Patron Capital and Heineken. The bid, which had been accepted by the company's
Read morePunch Taverns surges on two takeover offers, one from Heineken
14th Dec 2016 12:02
(ShareCast News) - Shares in Punch Taverns rocketed on Wednesday after the pub operator confirmed it has received two takeover offers, one from Patron Capital Advisers on behalf of Dutch brewer Heineken and the other from Emerald Investment Partners. Patron has offered 174p per share, while Emera
Read morePunch Taverns swings to profit
8th Nov 2016 08:12
(ShareCast News) - Pub operator Punch Taverns swung to a pre-tax profit in the 52 weeks to 20 August. In its preliminary full-year results, the group said pre-tax profit came in at £60m versus a loss of £105m the year before. However, underlying pre-tax profit fell to £53m from £61m and revenue decl
Read morePunch Taverns says full year trading in line
31st Aug 2016 09:35
(ShareCast News) - Pub operator Punch Taverns reported a rise in average profit per pub for the 52 weeks to 20 August, with like-for-like net income growth in the core estate. In a trading statement for the full year, the company said profit per pub was up around 4%, while core estate LFL net income
Read morePunch Taverns profit drops but new strategy beginning to bear fruit
20th Apr 2016 10:04
(ShareCast News) - Punch Taverns posted a drop in first-half pre-tax profit on Wednesday but shares in the pub group rallied as investors welcomed signs of progress on the strategy set out back in November. In the 28 weeks to 5 March, pre-tax profit tumbled to £54.7 from £348.5m, on revenue of £212.
Read morePunch Taverns poised to open doors of first Harry Ramsden's pub
11th Mar 2016 14:18
(ShareCast News) - Punch Taverns will next week open the first in a series of pubs managed by Harry Ramsden's fish and chip restaurants. Harry Ramsden's at Wingerworth pub and kitchen in Chesterfield, a Punch-owned pub, will open to the public on 15 March, as debt-laden Punch rolls out one of the ne
Read moreConviviality Retail completes Matthew Clark deal
7th Oct 2015 14:39
(ShareCast News) - Off licence and convenience stores owner Conviviality PLC confirmed it has completed the acquisition of Punch Tavern's 50% stake in drinks supplier Matthew Clark for a combined £200m. The London-listed company said the deal for Matthew Clark, a 50:50 joint venture between Punch Ta
Read morePunch Taverns agrees to sell 158 pubs for £53.5m
24th Aug 2015 08:40
(ShareCast News) - Punch Taverns said it had reached an £53.5m agreement with a real estate trust to sell 158 pubs it deemed 'non-core.' The pub operator said the sale of the pubs to NewRiver Retail was at an average of £340,000 per pub, above total book value of £52.5m. In a statement, Punch said
Read moreSunday newspaper round-up: RBS stake sale, Arriva return, IHG deals eyed
2nd Aug 2015 15:19
(ShareCast News) - The government may begin the process of selling down its 79% stake in Royal Bank of Scotland this week at the behest of Chancellor George Osborne. A sale of a £2.5bn chunk of shares, equivalent to 6% of the company, could begin in the coming days, the Sunday Times said. The Treasu
Read moreFriday broker round-up
8th May 2015 10:42
IMI: JP Morgan reiterates overweight. ITV: Westhouse Securities reiterates add and 288p target. Aviva: Canaccord Genuity reiterates buy and 600p target. Randgold Resources: Credit Suisse reiterates neutral and 5,050p target. UBS stays at buy with 5,600p target. Provident Financial: Canaccord Genu
Read morePunch Taverns turns losses into profits and reduces debt during first-half
22nd Apr 2015 09:37
Pub and bar owner Punch Taverns said on Wednesday it expects to meet its full-year forecasts as it moved its losses into profits during the first half of the year. The group reduced its net debt by £53m since the launch of a capital restructuring in October. It also said it expects to meet its £200m
Read moreThursday tips round-up: Enterprise Inns, Punch Taverns, ICAP
20th Nov 2014 17:19
Change is good, but not quite what UK MPs have in mind. Their vote in favour of ending the so-called 'beer-tie' is a great idea. In effect, it will allow large pub operators to purchase their beer from wherever they like, instead of being forced to buy it from the likes of Enterprise Inns or Punch T
Read moreBroker tips: Pub companies, IMI, National Grid
19th Nov 2014 12:30
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. "If this passes through the House of Lords and becomes law, this coul
Read moreBeer tie vote creates 'significant uncertainty' for pubcos, says Barclays
19th Nov 2014 10:56
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. The government was defeated in a Commons vote on Tuesday with MPs vot
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