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Morning Briefing for pub, restaurant and food wervice operators

Thu 10th Apr 2025 - Update: Esquires and Grosvenor Casinos trading, neighbourhood policing, Brakspear and Giraffe
Esquires owner reports ‘strong trading momentum’ as full-year sales climb to £35.1m, strong pipeline of new stores anticipated in UK: Cooks Coffee Company, owner of the Esquires brand, has reported “strong trading momentum” with sales in its fourth quarter up 35% to £9.5m (2024: £7.1m). Group store sales for the year ending 31 March 2025 were up 26.4% to £35.1m. The group said it had seen continued growth in operating cash flow as a result of increased demand and the strength of the estate. At the year end, the group had 89 sites in the UK and Ireland, up from 75 at 31 March 2024. The group said it has a strong pipeline of new stores anticipated in the UK with additional geographies being explored. Earlier this month, the group announced the refinancing of its debt with Bank of New Zealand to repay or refinance all existing debt. Cooks Coffee said the improved debt facility significantly reduces its ongoing finance costs and provides further funding to support its ongoing operations and strategic initiatives. Chief executive Aiden Keegan said: “We are delighted to report another strong period of trading across our entire estate, which continues to grow. The strong performance in the fourth quarter is particularly pleasing as this has been recorded against a challenging macroeconomic background and we are delighted that our strength of offering continues to remain desirable. We maintain our commitment to have more than 100 stores operating in the UK and Ireland by the end of this calendar year. As a result of the anticipated growth in our estate, the group’s healthy balance sheet and the strong trading momentum, we are confident about the future prospects of the group and view the future with optimism.”

Premium Club subscribers to receive next Turnover & Profits Blue Book tomorrow featuring 1,108 companies: Premium Club subscribers will receive the next Turnover & Profits Blue Book tomorrow (Friday, 11 April), at 12pm. The database will feature 78 updated accounts and 20 new companies, taking the total to 1,108. A total of 697 companies are making a profit while 411 are making a loss. The Blue Book is updated each month and ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Premium Club subscribers also receive access to five other databases: the Multi-Site Database, the New Openings 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 Clubs subscribers will be offered a 20% discount on tickets to Propel paid-for events including Excellence in Pub Retail (May 2025) and discounts on specialist sector reports such as the International Brands report. 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 will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor 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 now 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. Email kai.kirkman@propelinfo.com today to sign up.

Grosvenor Casinos owner reports ongoing growth and momentum across all businesses as revenue approaches £600m year to date: The Rank Group, which owns Mecca Bingo and Grosvenor Casinos, has reported ongoing growth and momentum across all businesses. Group like-for-like net gaming revenue for the third quarter ended 31 March 2025 grew 10.9% to £195.6m, with year-to-date net gaming revenue up 12.2% to £597.4m on the prior year. On a channel basis, digital like-for-like net gaming revenue in the quarter was up 15.4% to £58.4m and 14.7% year to date at £178.6m. Venues like-for-like net gaming revenue in the quarter was up 9.1%. Grosvenor venues like-for-like net gaming revenue grew 13.0% to £90.4m, driven by a 14.5% increase in table gaming and 9.5% rise in electronic roulette, “both of which continue to deliver the benefits from the positive customer reaction to the investment we have been making in our product”. Year-to-date revenue in the division is up 14.4% to £283.2m. Rank said digital like-for-like net gaming revenue growth continued to be strong in the UK business, growing 18.3%, with the Grosvenor brand, up 43.2%, the stand-out contributor to the performance. In Spain, net gaming revenue was 2.9% lower than the prior year but the group said it expected the developments it is making to the platform and customer proposition to return it to growth in the first half of the 2025-26 financial year. Mecca venues like-for-like net gaming revenue grew 1.9% in the third quarter to £36.6m and is up 4.8% to £105.2m in the year to date. Customer visits in the quarter were down 1.8% on the prior year, but spend per visit was up 3.8%. The Enracha venues “continued to perform strongly” with third-quarter like-for-like net gaming revenue growth of 4.1% to £10.2m and year-to-date growth of 5.9%, standing at £30.4m. Rank chief executive John O’Reilly said: “Since announcing our interim results in January, we have continued to deliver strong growth and expect to deliver group like-for-like operating profit for the full year in line with expectations. This is notwithstanding the uncertain economic environment and the significant cost and regulatory headwinds that we face from the start of April 2025. We expect the government to publish the statutory instruments for land-based casino reforms in the coming weeks and anticipate the roll out of additional machines and sports betting to commence during the summer.”

NTIA – neighbourhood policing ‘should be a constant, not a comeback’: Neighbourhood policing “should be a constant, not a comeback”, the Night Time Industries Association (NTIA) has said. The government’s neighbourhood policing guarantee aims to deploy a local officer to each community and add 13,000 more officers by 2029. In response, NTIA chief executive Michael Kill said: “The fact that the return of visible policing is being framed as a major milestone signals just how far we’ve drifted from what should be a fundamental and consistent public service. Neighbourhood policing should never have been allowed to decline to the point where its reintroduction feels like a breakthrough. The night-time economy has long felt the effects of this absence, with rising anti-social behaviour, and the growing sense that enforcement has become reactive rather than preventative. This has led to increased strain on venues, staff, and the people who rely on the safety of these spaces to enjoy their evenings responsibly. While pledging more officers and visibility is welcome, what’s needed is a sustained, strategic commitment that recognises the unique challenges of the late-night economy – and supports it not only during high-profile moments, but day in and day out.” Kill said a recent survey of 18 to 30-year-olds showed 46% would be encouraged to stay out later if they felt safer, with more than half of them being women. “This tells us clearly that perceptions of safety play a direct role in participation in the night-time economy,” he added. “Policing is not just about deterrence – it’s also about giving people the confidence to enjoy their towns and cities at night. The opportunity now is to move beyond headlines and create an environment where safety is not just promised, but truly felt.”

Brakspear expands Honeycomb Houses with acquisition of Cirencester hotel, becomes company’s biggest site with accommodation: Pub operator Brakspear is expanding its Honeycomb Houses managed division with the acquisition of The Kings Head hotel in Cirencester, Gloucestershire. The purchase follows hot on the heels of the acquisition of The Redesdale Arms in Moreton-in-Marsh and takes the total estate up to 12 sites. Originally a 14th century coaching inn, The Kings Head is a three-storey building in Cirencester’s Market Square and is listed as a site of special architectural and historical interest. The Kings Head comprises 66 bedrooms, a restaurant and several events spaces. Brakspear chief executive Tom Davies said: “The Kings Head is a multi-faceted business that strengthens our offer in the Cotswolds, particularly for weddings and functions. With 66 bedrooms, it also becomes our biggest site with accommodation. We have built a successful weddings and events business at The Frogmill near Cheltenham and with the addition of The Kings Head, alongside our existing site The Egypt Mill near Stroud, Honeycomb Houses now has a strong proposition for guests wanting to wed or celebrate in the Cotswolds. It’s not just about functions though; The Kings Head is a popular destination for weekend breaks, and for drinking and dining in central Cirencester. We’re excited to be bringing this exceptional business into the Honeycomb Houses family, and looking forward to welcoming guests with our trademark relaxed, attentive service in a ‘home from home’ atmosphere.” The site will close for five days to allow the introduction of the Honeycomb Houses summer menu, and for training of the existing pub teams. The Kings Head was purchased from administrators.\

TRG Concessions and Boparan confirm new Giraffe opening at Heathrow: The Restaurant Group Concessions (TRG Concessions), the UK travel hub hospitality operator, has confirmed the opening of Giraffe World Kitchen at London’s Heathrow airport, in partnership with Boparan Restaurant Group. Offering 157 covers, the site opened today (Thursday, 10 April) in the airport’s Terminal 3’s international departure lounge, on a former Wagamama site. The opening marks the seventh site TRG Concessions and Boparan have opened together and sixth Giraffe location. The opening of Giraffe expands TRG Concessions’ presence in Terminal 3 to three units. The business recently launched restaurant and bar Sanfords at Luton airport, what it describes as the “most extensive restaurant within any UK airport”. Kirsten Pottinger, commercial director of TRG Concessions, said: “We are so proud of the long-standing partnership with Boparan that affords us the opportunity to be agile in identifying travel hub spaces for the Giraffe brand and building at pace. Teams across both businesses have worked tirelessly to create yet another stunning Giraffe restaurant and compelling family-first menu.” James Dodd, head of marketing at Boparan, said: “Boparan is thrilled to open Giraffe World Kitchen in Heathrow Terminal 3, marking our second Giraffe location at Heathrow alongside Terminal 5. This expansion reflects our long-standing partnership with TRG and our shared commitment to delivering vibrant, global flavours to travellers. With this latest addition, Giraffe now boasts six airport locations across the UK and 15 globally, reinforcing our position as a top family casual, go-to dining destination for world explorers.”

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