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This week in the catering industry

23 | 08 | 13

We take a look at three of this week's biggest news stories in the catering and hospitality industry that will be of interest to the kitchen equipment sector.

Walkabout owner posts loss 

Intertain, the owner of bar-restaurant chain Walkabout, has reported a pre-tax loss of just under £5 million in its latest financial report. 

Covering the year up to February 28th, the firms' results show its profit before deductions was actually higher than last year, with sporting events such as the Euro 2012 football championship helping to boost sales. 

However, this could not prevent the company from seeing its total loss rise from £2.3 million to £4.9 million, while its turnover also suffered a fall. 

Despite the negative results Intertain did manage to refurbish five of its Walkabout venues, but warned 2013 will be a "fallow" year, as the lack of a major football or rugby tournament means sales figures are unlikely to compare favourably with those from 2012.

There are currently 29 Walkabout outlets across the UK. 

Brakspear enjoys good 2012

The parent company behind pub and brewery operator Brakspear has reported positive financial figures for the year ending December 31st 2012. 

JT Davies & Sons saw its operating profit increase by 12.8 per cent to £4.6 million, while its earnings before tax and deductions was up by 20 per cent to £2.7 million. This growth was partly driven by a 3.6 like-for-like sales rise in draught beer and cider, while turnover expanded by 7.1 per cent to £16.4 million. 

Tom Davies, the company's chief executive, said: "We're extremely pleased with these figures, which compare favourably to the draught volume declines recorded by many of our competitors. 2012 was a tough trading year for pubs generally and especially for the many Brakspear pubs with wonderful gardens that sat empty during the wettest summer for a century."

The company purchased five pubs worth a total of £7.4 million during 2012 and also invested £1.8 million into improving its existing estate.

Subway plots expansion

One of the most familiar quick-service food chains in the country is planning to expand. 

In a phone interview with Bloomberg, Subway assistant regional director Mike Charest claimed the sandwich company aims to open between 800 and 1,000 new venues in Europe next year and the UK will be at the forefront of this expansion.

"Europe is the strongest, fastest-growing international market for Subway outside of North America and will continue to be," he told the news provider.

According to Mr Charest, the company plans to increase its UK presence from 1,544 to 2,000 stores by 2015. It has already opened 63 new venues in the country throughout this year. 

Subway has a total of 4,018 stores across Europe and has launched around 500 new outlets annually over the past two years. It has plans to expand in Finland, the Netherlands and Sweden as well as creating a presence in Latvia, Lithuania, Georgia and Ukraine. ADNFCR-16001031-ID-801628860-ADNFCR

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