Garnett Station Partners’ Post

In an exciting interview with InDaily, Mark Condi, CEO of Duxton Pubs' sheds light on the company's ambitious plans for the future. Head to the link below to learn more. #SouthAustralia #DuxtonPubs #Hospitality #CEO #Interview

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If you want to get a really good handle on what’s going on in the UK’s pubs from a business perspective, pull up a pint and settle into a corner of your favourite local to read this hum-dinger of a report from The Morning Advertiser on the Top 100 UK pubcos. And, yes, revealed as the top five largest owning groups are Stonegate Group, Greene King, Star Pubs , Mitchells & Butlers PLC and Admiral Taverns, but for me the really interesting detail of this report (aside from the cracking case studies) is what it tells us about growth (there is some), profitability (shaky at best), changing pubco operating models, innovation, changing consumer habits and the impact of legislation. If you’re a pubco group that’s made the rarefied air of the Top 100 for the first time, congratulations! https://lnkd.in/ew-D2het

We are very pleased to share that our Property team has advised Wolfpack, a craft beer and bar company founded by ex-rugby players Alistair Hargreaves and Chris Wyles, on their flagship bar in West Hampstead. The team advising on this deal was led by Partner David O'Dwyer, with notable assistance from Elizabeth Inglis. Follow the link below to learn more about our team's work on this deal. #Property #PropertyLaw #CommercialProperty

If someone buys Red Lobster for a song, we volunteer to be the new comprehensive comms and marketing provider, we have a lot of ideas. 1. Licensing The Boondocks IP for a date night + cheddar biscuits centric campaign. 2. "Finite Shrimp" promotion that provides portion control as a service while controlling costs. It's a revolutionary idea: what if you paid money, and then got a pre-determined amount of food? 3. Cruise line integration strategy. 4. Minor league hockey centric sports and promotion strategy starting with an Athens Rock Lobsters deal. 5. Investor communication strategy centered on making fun of the country's most evil, strip-the-parts-and-run firms, because good, longtermist investors know and hate these people and would love to laugh at them. We have a lot more that's just a teaser. #redlobster #qsr #restaurants #hospitality

Markon Local takes advantage of your local growing season. What does that mean? You get Markon-approved local produce when it’s in season. And, as the growing seasons change, you’ll seamlessly go back to receiving our non-regional produce—just like you always have. Pretty cool, right? Learn more about Markon Local here: https://bit.ly/3UuOMpI

In 2023,🐔Dave's Hot Chicken🐔 spiced up their #RestaurantGrowth reaching new heights throughout the year almost entirely due to gains in traffic through strategic, viral partnerships combined with their continuously innovative and quality menu. Seeing a 4.7% rate of growth in same-store sales and a 5.4% increase in traffic in just Q4 alone, Dave’s has further established itself as a trailblazer in the restaurant industry. Read more on how Dave’s Hot Chicken has become a leader of the restaurant franchise industry here: https://siteze.us/496VeYn Looking to help your brand on its path to success? Learn more about #SiteZeus, the all-encompassing business suite that offers solutions ranging from automated #CustomerSegmentation platform to our Ai-Powered #SiteSelection to help with your business growth on the web and on the ground. Click here to learn about the platform helping Dave’s Hot Chicken: https://siteze.us/3SfGNdI

Exciting news from the heart of our business: Interim Results are in, and they're cause for celebration! 🎉 In a decisive triumph, we've charted a tremendous +7.3% surge in like-for-like sales - a clear outperformance in the market. The cherry on top? A stellar 22% boost in pub operating profit. These figures reflect the vibrancy and commitment resonating within our pub walls, and the exceptional efforts of our teams. Their dedication to crafting those extraordinary pub moments doesn't go unnoticed. As we raise a glass to these achievements, we turn an enthusiastic gaze to the horizon and the summer months. With adrenaline-pumping sporting action on the calendar, our newly refurbished pub gardens poised to welcome the sunshine, and our beloved culinary offerings, we're well-equipped to make this season a remarkable one. Justin Platt, our CEO, embodies the optimism that fuels Marston's journey, highlighting the undoubted opportunities that the UK Pub Market holds. It's with our prime pub portfolio and our guest-centric philosophy that we'll not only seize these chances but also deliver continuous, robust returns for our shareholders. Dive into the full details of our interim triumphs and forward strategies - simply follow the link for the complete statement. Here's to a future paved with success! 🍻 #WherePeopleMakePubs #PubsToBeProudOf

𝗦𝘁 𝗔𝘂𝘀𝘁𝗲𝗹𝗹 𝗺𝗮𝗻𝗮𝗴𝗲𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗹𝗳𝗹𝘀 𝘂𝗽 𝟭𝟬% 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿, 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗮𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝘃𝗲 𝘄𝗶𝘁𝗵 𝗮𝗰𝗰𝗼𝗺𝗺𝗼𝗱𝗮𝘁𝗶𝗼𝗻 𝗮 ‘𝗴𝗿𝗼𝘄𝗶𝗻𝗴 𝗽𝗮𝗿𝘁 𝗼𝗳 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀’ 😍 : St Austell Brewery chief executive Kevin Georgel has told Propel the south west brewer and pub company’s managed business like-for-likes are up 10% this year and that it remains acquisitive, with accommodation a “growing part of the business”. Georgel was speaking after St Austell reported revenue increased 9.7% to a record £229,481,000 for the year ending 31 December 2023 compared with £209,153,000 the year before. “It’s been a difficult start to the year, but with the sun coming out and the weather improving, things are building,” he said. “We need a good summer and hopefully the (football) Euros will provide a boost to trade. Managed business like-for-likes are up 10%, which positions us at the top end of market performance.” Reflecting on what drove last year’s record performance, Georgel said: “Our managed pub performance showed strong like-for-likes, with double digit growth last year, and growth right across the business. We’re winning market share across all parts of the business, in the on-trade and off-trade, and we’ve invested a lot across the business, which is paying off. With cost pressures as they are – although they’re stabilising now – we need to be at our best and delivering exceptional experiences, and that shows in the market share we’re winning.” Georgel said the business “remains acquisitive”, and while “nothing is imminent” on that front, the business has “been looking”. He said location is key, with the “best sites in Devon and Cornwall” being sought, and that accommodation is a “growing part of the business”. In terms of industry trends, Georgel said St Austell is poised to re-enter the low and no alcohol category later this year with a new product launch, probably in the fourth quarter. He added that whichever party comes to power in next month’s general election, the hospitality sector is aligned in the need for a “sustainable fiscal and regulatory framework to allow industry to do want it does best – which we don’t have at the moment”. St Austell grew its underlying operating profit by 15% to £13,163,000 in 2023 (2022: £11,426,000) and generated £20.7m of underlying Ebitda before other items (2022: £18.1m), resulting in underlying Ebitda conversion increasing to 9.0% (2022: 8.7%). Underlying profit before tax was £9,449,000 (2022: £9,360,000) and overall statutory profit before tax was £7,997,000 (2022: £19,194,000), mainly from the increase in interest rates

Jingxin Zheng