Today’s news in brief – 20/11/23

Compass Group saw a 26.1% rise in operating profit, reaching £1.89bn for the year ending 30 September 2023. The group’s European arm saw a 31.5% profit increase to £392m, backed by robust margin growth and new business in diverse sectors. CEO Dominic Blakemore highlighted sustained growth expectations, with high single-digit organic revenue growth and continued margin progression, poised for a focused growth phase and optimistic about global opportunities.

Drink sales stagnated in early November, largely due to persistent wet weather, according to the latest Daily Drinks Tracker by CGA. Managed venue sales for the week ending 11 November were nearly flat, down marginally by 0.2% compared with 2022. Although certain days saw growth, Friday and Saturday experienced a 7% decline, potentially influenced by adverse weather and a pre-festive spending pause. With the festive season crucial for businesses, operators aim to attract consumers amid hopes for better weather and a positive economic outlook.

Chartwells has extended its collaboration with the University of Sussex for a decade, adopting a cost-plus model that reinvests generated profits into the service. The partnership emphasises sustainability, introducing initiatives like cost-effective meals, expanded meat-free menus, local suppliers, eco-friendly packaging, and ethical sourcing. Kerry Ford, Chartwells’ regional managing director, highlighted the company’s alignment with the university’s values.

Roxy Leisure has officially opened Roxy Lanes on School Lane in Liverpool, offering diverse entertainment like bowling, pool, darts, and karaoke. The 18th Roxy Leisure site and third in Liverpool, this venue is family-friendly until early evening, complemented by a new F&B menu featuring Italian pizzas and special ‘Roxy Dogs.’ Joel Mitchell, Roxy Leisure’s sales and marketing director, expressed excitement about the fresh Roxy Lanes.