Today’s news in brief – 24/06/24

Stonegate revenues hit £916m in H1 ended 7 April, as its leased and tenanted estate demonstrated “consistent” growth with like-for-like sales rising 6.2% on the equivalent period in the prior year. EBITDA margin in H1 was up 1.3% to 21.3%, highlighting the “positive impact” of Stonegate’s performance improvement and efficiency initiatives. 

Young’s Pubs revealed that PBT rose 9.3% to £49.4m in 2023, with revenues having increased 7.4% to £388.8m. The pub group’s adjusted EBITDA also increased 7.8% to £92.2m and its managed house adjusted EBITDA for the period was also up 7.1% to £112.7m. 

Market Halls has seen a 155% rise in revenues to £22m for the period to July 2023, as the food hall operator has announced it will be opening its fourth London site at Paddington Square in West London. Expected in the final quarter of this year, it will boast 11,000 sq ft of space for 500 customers. 

Red Engine opened an Electric Shuffle venue in Deansgate, Manchester. Electric Shuffle Manchester is the second bar from Red Engine to hit the city, following the opening of Flight Club back in 2018. The latest launch from Red Engine creates 75 new job opportunities in the city.