Proactiveinvestors Australia City Pub Group https://www.proactiveinvestors.com.au Proactiveinvestors Australia City Pub Group RSS feed en Tue, 23 Jul 2019 02:17:58 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190701155834_14131975/ Tue, 02 Jul 2019 00:58:34 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190701155834_14131975/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190701070009_14130229/ Mon, 01 Jul 2019 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190701070009_14130229/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190628163001_14129877/ Sat, 29 Jun 2019 01:30:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190628163001_14129877/ <![CDATA[RNS press release - 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AGM Statement ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190520070009_14079279/ Mon, 20 May 2019 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190520070009_14079279/ <![CDATA[RNS press release - Blocklisting Application ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190514131706_14073537/ Tue, 14 May 2019 22:17:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190514131706_14073537/ <![CDATA[RNS press release - Annual Report and Accounts and Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190425144917_14052330/ Thu, 25 Apr 2019 23:49:17 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190425144917_14052330/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190424161747_14050704/ Thu, 25 Apr 2019 01:17:47 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190424161747_14050704/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190409070012_14033377/ Tue, 09 Apr 2019 16:00:12 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190409070012_14033377/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190315123304_14004389/ Fri, 15 Mar 2019 23:33:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190315123304_14004389/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190226070026_13981249/ Tue, 26 Feb 2019 18:00:26 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190226070026_13981249/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190116144758_13937058/ Thu, 17 Jan 2019 01:47:58 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190116144758_13937058/ <![CDATA[RNS press release - Year end trading update ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190116070002_13935858/ Wed, 16 Jan 2019 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190116070002_13935858/ <![CDATA[RNS press release - Notification of Trading Update ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190114155346_13934061/ Tue, 15 Jan 2019 02:53:46 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20190114155346_13934061/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181114110115_13866777/ Wed, 14 Nov 2018 22:01:15 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181114110115_13866777/ <![CDATA[RNS press release - Completion of Placing ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181010070005_13822552/ Wed, 10 Oct 2018 17:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181010070005_13822552/ <![CDATA[RNS press release - Proposed Placing ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181009163519_13822271/ Wed, 10 Oct 2018 02:35:19 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20181009163519_13822271/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180926070005_13804568/ Wed, 26 Sep 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180926070005_13804568/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180920070006_13797506/ Thu, 20 Sep 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180920070006_13797506/ <![CDATA[RNS press release - Notice of Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180801103609_13739682/ Wed, 01 Aug 2018 19:36:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180801103609_13739682/ <![CDATA[RNS press release - Acquisitions update ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180730070007_13735165/ Mon, 30 Jul 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180730070007_13735165/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180702070006_13700570/ Mon, 02 Jul 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180702070006_13700570/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180629162921_13700158/ Sat, 30 Jun 2018 01:29:21 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180629162921_13700158/ <![CDATA[RNS press release - Result of Scrip Dividend Alternative ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180615070002_13680724/ Fri, 15 Jun 2018 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180615070002_13680724/ <![CDATA[RNS press release - Scrip Dividend Reference Price ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180607070008_13670201/ Thu, 07 Jun 2018 16:00:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180607070008_13670201/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180518172806_13647703/ Sat, 19 May 2018 02:28:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180518172806_13647703/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180518172531_13647699/ Sat, 19 May 2018 02:25:31 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180518172531_13647699/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180514160925_13640466/ Tue, 15 May 2018 01:09:25 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180514160925_13640466/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180514070007_13638973/ Mon, 14 May 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180514070007_13638973/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180423070010_13613697/ Mon, 23 Apr 2018 16:00:10 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180423070010_13613697/ <![CDATA[RNS press release - Notice of AGM and Annual Report - correction ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180420084140_13612367/ Fri, 20 Apr 2018 17:41:40 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180420084140_13612367/ <![CDATA[RNS press release - Notice of AGM and Annual Report ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180420070005_13611953/ Fri, 20 Apr 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180420070005_13611953/ <![CDATA[RNS press release - Statement re Dividend ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180412160517_13602755/ Fri, 13 Apr 2018 01:05:17 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180412160517_13602755/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180412070004_13601298/ Thu, 12 Apr 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180412070004_13601298/ <![CDATA[News - The City Pub Group hikes final dividend in full-year results as LFL sales rise ]]> https://www.proactiveinvestors.com.au/companies/news/194834/the-city-pub-group-hikes-final-dividend-in-full-year-results-as-lfl-sales-rise-194834.html The City Pub Group PLC (LON:CPC) increased its final dividend 50% to 2.25p in full-year results as like-for-like (LFL) sales rose and exceptional items drove pre-tax profits 102% higher.

The AIM-listed pub chain reported LFL sales were up 3.8%, driven by good growth in its drink and accommodation offerings, while £3.2mln in exceptional items (including a £1.8mln costs expense relating to its initial public offering in November) caused pre-tax profits to stand at £3.2mln from £1.6mln the previous year.

READ: New additions help 2017 revenues soar at City Pub Group

However, outside the exceptional items, the company reported a pre-tax loss of £0.2mln, down from a £0.6mln profit the year before.

In its outlook, City Pub Group chairman Clive Watson said total sales for the first 14 weeks of 2018 were up 22% on the previous year, with 34 sites open and trading.

He added that while snow had adversely impacted trading in the first quarter, key sporting events such as the World Cup, new pub openings and a strong acquisition pipeline meant the company was confident in meeting expectations for the year.

In a note to clients, analysts at Liberum commented: “The pipeline of new pubs for FY18E is secure with eight agreed suggesting at this early stage the group could surprise on the number of openings during the year.

“Having ended the year with no debt and considering a 56% freehold mix, the group has the strongest balance sheet in the pub sector. Alongside this, 18% EBITDA growth in FY18E and a c.2% dividend yield are highly attractive."

Shares in City Pub Group were up 1.5% at 163p in early trading Thursday

--Adds broker comment--

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Thu, 12 Apr 2018 08:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194834/the-city-pub-group-hikes-final-dividend-in-full-year-results-as-lfl-sales-rise-194834.html
<![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180129104806_13512743/ Mon, 29 Jan 2018 21:48:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180129104806_13512743/ <![CDATA[RNS press release - EBT, Grant of Options and Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180125070004_13508722/ Thu, 25 Jan 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180125070004_13508722/ <![CDATA[RNS press release - Year end trading update ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180117070003_13498759/ Wed, 17 Jan 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20180117070003_13498759/ <![CDATA[News - New additions help 2017 revenues soar at City Pub Group ]]> https://www.proactiveinvestors.com.au/companies/news/190163/new-additions-help-2017-revenues-soar-at-city-pub-group-190163.html Shares in City Pub Group PLC (LON:CPC) ticked higher on Wednesday morning after the ‘premium’ pub operator saw revenues soar by more than a third last year.

Sales jumped to £37.4mln in the 12 months ended December 31, with much of that growth coming from the eight new pubs it added to its portfolio over the year.

READ: City Pub Group smashes through £100mln barrier on AIM debut

Even when those new additions are stripped out, like-for-like sales still managed to eke out growth of 3.8%.

The Christmas period is always a key time for the pub and restaurant industry, and City, which only joined AIM in November, didn’t disappoint.

It told investors that trading over the holiday season was “strong”, with many of the recent openings trading ahead of expectations and a number of pubs delivering record results.

On the back of the “successful” festive period, City said it traded in line with market expectations in 2017 and “remains optimistic” about its prospects for the year ahead.

Plans to double estate within four years

As well as the eight new pubs it acquired last year, City Pub Group also put the wheels in motion to snap up several others as it looks to make good on plans to double the size of its estate over the next few years.

Contracts have been exchanged for new sites in Clapham and Reading and are due to complete later this month, while the board has said it is “close” to exchanging on further pubs.

“Our new openings are performing well and we are excited about our recent high-quality acquisitions,” said executive chairman Clive Watson.

“We continue to seek and find a ready flow of acquisitions to build the group and we are close to exchanging on further units.”

Co-founder departs

City– which has a portfolio of 33 trading pubs across London and the south east – was co-founded back in 2011 by serial pub entrepreneur Clive Watson.

Aside from making appearances on reality TV show Made in Chelsea alongside his daughters Lucy and Tiffany, Watson is well-known in the industry having sold off his Capital Pub Company to Green King PLC (LON:GNK) for £93mln back in 2011.

Watson’s co-founders are pub veteran David Bruce – who he worked with at Capital – and former Fuller’s managing director John Roberts.

The company revealed today that Bruce is to step down to focus on his other interests in the pub and brewing industry.

Taking Bruce’s position as non-executive director is former Punch Taverns chief operating officer Neil Griffiths who will join the board with immediate effect.

“I would like to personally thank David for helping me establish The City Pub Company following the sale of the Capital Pub Company in mid-2011,” added Watson.

“I am delighted that Neil Griffiths has joined our board - his knowledge and experience will be extremely valuable as we aim to double the size of the Group over the next three to four years.”

“Encouraging” update says City broker

“City Pub Group finished last year with a flourish - a total of eight openings and +3.8% like-for-like sales growth lifted revenues by +34% to £37.4mln (est. £37.2mln) for FY17,” wrote Liberum analyst Anna Barnfather.

“Furthermore, it has secured another three sites for 2018 and expects to exchange on several more in short order.

“Hence the group appears comfortably on track to meet our base case assumptions and is well on its way towards the target of doubling in size over the next 3-4 years.

“We find the update encouraging and reiterate our ‘buy’ and target price of 200p.”

Shares rose 1.4% to 170p early on Wednesday.

--Updates for share price and broker comment--

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Wed, 17 Jan 2018 09:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190163/new-additions-help-2017-revenues-soar-at-city-pub-group-190163.html
<![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171127141501_13445055/ Tue, 28 Nov 2017 01:15:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171127141501_13445055/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171124171501_13443787/ Sat, 25 Nov 2017 04:15:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171124171501_13443787/ <![CDATA[RNS press release - Admission to AIM and First Day of Dealings ]]> https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171123070003_13441148/ Thu, 23 Nov 2017 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/16063/LSE20171123070003_13441148/