Today’s news in brief – 03/01/25

Boxpark’s turnover for the year to April 2024 dropped marginally to £19.9m, though the food operator said it is “confident” in its ability to secure further sites in 2026 and beyond. The group’s financial performance was impacted by a tougher macroeconomic environment with a drop in beverage sales partially offset by an increase in advertising and sponsorship. 

Wasabi has posted a profit of £21.9m for the year to 31 December 2023. The company attributed its results to a “solid” performance, which improved profitability as it balanced inflationary pressure with value for money for customers. Furthermore, the company revealed that it had net assets of £25.3m, up from £3.4m in December 2022.

Hospitality groups saw year-on-year sales rise 2.7% in the run-up to Christmas, according to CGA by NIQ’s Hospitality Business Tracker. While the like-for-like sales growth of 2.7% in the week before Christmas was not the best, sales still beat recent inflationary benchmarks – making it a “solid” performance overall. 

CH&CO chief executive has been awarded an MBE in the King’s New Year’s Honours List for services to the hospitality sector. Bill Toner has been presented with the award for his “outstanding” contribution to the industry. Additionally, he has been credited with giving back to the industry through his involvement with industry associations, including Springboard.