Today’s news in brief – 04/03/25

Greggs has surpassed the £2bn mark as its sales increased 11.3% to £2.014bn in the year to 28 December 2024. The group’s underlying pre-tax profit also increased 13.2% to £189.8m, while its total pre-tax profit was up 8.3% to £203.9m. During the period, the group stated that its evening trade remains its fastest-growing daypart, accounting for 9% of company-managed shop sales in 2024, up from 8.5% in 2023.

The Revel Collective revealed that its sales were 22% lower at £64.2m during H1 than in the same period last year, due to “challenging” conditions in its bar brands which made recovery “slower than expected”. The fall in sales reflects a “significant” reduction of venues – from 88 to 62 – across the 12-month period, together with the two-month delay to, and ongoing distraction of, The Revel Collective’s restructuring plan.  

Giorgio Locatelli will open a new restaurant at The National Gallery with Searcys when the Sainsbury Wing reopens on 10 May. The team will be opening an all-day restaurant ‘Locatelli’ along with ‘Bar Giorgio’ on the ground floor, an espresso bar offering a selection of both sweet and savoury takes on the classic Roman pastry ‘maritozzi’. This opening follows  the announcement of the closure of their Michelin-starred Locanda Locatelli. 

Blacklock will be opening a new restaurant in Birmingham, its first in Britain’s second city. The group will transform the ground floor of St Philip’s House in the city centre into a 100-seat restaurant and bar, and offer a variety of steaks and chops cooked over charcoal as well as white cheesecake for dessert. The new site will become Blacklock’s seventh restaurant after being founded in 2015 by ex-lawyer Gordon Ker.