The Food & Drink Group Share Discussion Threads

[jeff h] 06/6/2007 19:28

I wrote to the IC recently pointing out they never give FDG a mention.

I reckon they forgot to include it after the name and ticker change.

They are though covering it in this Friday's edition so it may well
bring it to the attention of new investors.

[jeff h] 31/5/2007 19:34

Comment from the FT...I like the bit about a small rise in sales leading to
a significant rise in profits...lfl of +8.5% plus the acquisitions should do
nicely:-

Good times roll at Food & Drink

The Food & Drink Group, whose operations include Henry J Bean's and Jamies wine bars, experienced strong trading with a near-doubling of interim pre-tax profits.

The group said turnover had risen 5.2 per cent to £10.5m in the 29 weeks to April 14, with like-for-like sales up 6.1 per cent.

Pre-tax profits jumped 98 per cent to £585,000 even though the figure was hit by the disposal of twosites.

James Kowszun, chief executive, said the group's current infrastructure meant even a modest rise in sales fed through to a significant rise in profitability. He added that the group has been focused on delivering a sustainable performance in food and wine sales and on increasing its private party bookings.

Its functions business was benefiting from increased resources, including the appointment of a party co-ordinator and the website. Current trading was also strong, with like-for-like sales in the first six weeks of the second half up 8.5 per cent.

[santangello] 30/5/2007 21:10

Many thanx Jeff.

[jeff h] 30/5/2007 17:43

A good strong set of figures, the acquisitions,current lfl increase,
corporate/function business gives the platform for a very good full year
result.

Peel Hunt mention that the current Interim figures also include Easter which
is viewed as a negative trading period for the group due to the amount of
bars in the City.

Their target price is now 360p.

I had mixed views on Wimbledon (closed since early Jan) still not having reopened as a HJB - current figures achieved with it being closed for a
large part of the period, but why such a long delay in the conversion?

However perhaps the below gives the explanation:-

www.morningadvertiser.co.uk:80/news_detail.aspx?articleid=35571

Food and Drink Group is to open its first new Henry J Bean's site since it acquired the brand.

The company is to convert the Life bar in Wimbledon it bought from Luminar last year to the bar/restaurant brand in the summer.

Cost of the conversion work is being subsidised by a large financial contribution from the site's freehold owner.

The landlord is taking advantage of the refurbishment to undertake site strengthening work to allow flats to be built above the new Henry's J Bean's.

Food & Drink Group currently operates three Henry J Bean sites - Chelsea, Bristol and Manchester - with like-for-likes sales currently up 13.9%.

It has disposed of a site in Camden and operate the Birmingham venue as a bar called the Breakfast Club.

Meanwhile, Food & Drink chief executive James Kowszun has revealed that two Jamie's wine bars will be carved out of its acquisition of seven Puzzle Pub Company leaseholds earlier this year.

The company has the right to use the Puzzle name for only six months - the remaining five sites will be re-branded with individual names.

Pre-tax profit was up 98% to £600,000 while turnover rose 5.2% to £10.5m in the 298 weeks to 14 April.

[santangello] 16/5/2007 22:11

Interims due soon, and lots of small sells...who knows what then ?

[[e-mail]] 18/4/2007 20:19

vern

look like i picked the wrong way to go again.

GRL is the one taking my fancy now

[jeff h] 17/4/2007 19:36

Worth the wait, been getting impatient to see acquisitions.

So we sell 1 leasehold restaurant in Central London for £1.2m and buy
7 leasehold bars in Central London...for £1.2m....sounds good to me.

Sounds good to Peel Hunt as well as they've lifted 2008 profits & EPS by 8%

I like the bit that mentions 'with 5 of the sites having outside trading capacity' ...good for Summer but also it suggests that some/all the sites
currently don't trade outside but may well do after the forthcoming refurb.

[spekky] 17/4/2007 13:12

This is a good company (i've been saying it forever) and I hope to hold again when the time is right.I sold early Jan to get into TAN and been v.happy with that decision.Its great to see a significant expansion (funded by cash) and £4 per share looks a goer within 2 years.Well done to all those holding/buying today.

[supersturrock] 17/4/2007 10:42

What a cracking deal. 26 % increase in outlets with no dilution.

[jeff h] 30/3/2007 10:50

A new HJB at Wimbledon to open soon, though it replaces the 'The' bar
there.

[supersturrock] 30/3/2007 10:39

Anyone any idea on any new outlet openings ? Cant see anything on the website.

[[e-mail]] 26/3/2007 11:44

vern

well spekky im glad i sold fdg my AST shares are flying. can't see me coming
back to the fold.

[spekky] 08/3/2007 20:20

Gobsmacked to learn that a city like London does n't do that.No wonder the cabbies all have second homes in the Canaries/Bahamas.

[jeff h] 08/3/2007 18:42

The Tube in London to run trains until 1am of a weekend....beneficial to FDG
I guess:-

[spekky] 05/3/2007 08:55

Ah,the jigsaw is complete,no takeover yet and I was way off the mark (but happy to say so).

[santangello] 05/3/2007 08:23

Who mopped them up....here's your answer:

The Company was notified on the 2 March 2007 that, following an acquisition on
the 1 March 2007, Schroders PLC has an interest of 1,259,251 ordinary shares in
the Company, representing 25.16% of the issued share capital.

The shares are held in Schroder Investment Management Limited, number of voting
rights 1,259,251 (indirect).

[spekky] 02/3/2007 14:30

At last......next question ,who took that many shares onboard.?

[spekky] 02/3/2007 11:46

wheres the RNS ? then we'll know for sure.It does n't make sense for them to jump ship now.If PHIL sold all we'll get the RNS.If it was part,then I'm not sure.

[puddinghead] 02/3/2007 11:11

spekky --- i think your wrong about 1 buyer taking 50%+ as there would have to be an offer for whole co. No? . This is likely to be disposal by PHIL to either one or many .

[spekky] 02/3/2007 10:32

I'm beginning to think it was just a net disposal of 100k by PHIL,possibly to accomodate the upcoming share buyback.Smoke n' mirrors.ADVFN has ploncked them in the sell column simply because they're below the bid.

[spekky] 02/3/2007 08:44

Lots of possibilities,but the one thing its not ,is an open offer for FDG,and having acquired the lions share they can dictate what happens next.If its an equity company I think it may go private.A lot depends on whether the current management knew about the manouvres.If its another restaurant/pub group I think holders here may end up with shares in that group rather than a premium to the current price,as happened when HAR took Jamies Bars.Surely we should at least have the sellers RNS by now.

[puddinghead] 02/3/2007 08:08

It is likely that this is just a switch in shares from venture capitalist to someone else. Hopefully another restaurant co as this would give us bid spec. Price below 240p IMHO means

1. Short term bid unlikely
2. Acquirer sees long term upside
3. Seller --private equity not necessarily bearish as will have own agend/guidelines re quoted investments

[spekky] 01/3/2007 17:23

Just spoke to a guy at h.o in chelsea who knew nothing (but I dont suppose they'd tell me anyway) Whoever it is they own at least 52% now and are in a position to call the shots..............shame,looks like they just came in through the back door.
My guess would be that they previously held just under 3%,so now closer to 55%.I feel sure they will have used the 2.999% to leverage the price down to 230p.Private holders may not be that lucky......WDIK.

[spekky] 01/3/2007 17:13

It will be interesting to find out tomorrow whether the current management even
new anything about it.