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Highlights
- Craft brewery major Beavertown announced plans to open its first pub today
- The pub, called Corner Pin, will be located across from the Spurs Tottenham Hotspur Stadium
- The company aims to open a chain of pubs called as Beaver Beacons across the UK, should this first pub becomes successful
In the UK, things are gradually returning to normal and hence near-normal service is expected to resume in pubs and restaurant. The signs have started appearing, with many businesses re-initiating their pending expansion plans and many taking new initiative in the business. Craft brewery major Beavertown announced its plans to open the first pub, called the Corner Pin, located across the Tottenham Hotspur Stadium. The new pub is expected to open next month and have a 400-seating capacity, including an open-air garden location and 3 floors. It is also expected to create up to 50 jobs upon launch.
Beavertown’s founder Logan Plant, who is the son of popular rock bank Led Zeppelin’s Robert Plant, plans to open a chain of such pubs called as Beaver Beacons across various cities in the UK if this standalone pub proves to be successful.
Beavertown’s had reported its FY 2020 revenue at £35 million. Prior to the pandemic about 80 to 85 per cent of its sales were driven by pubs, however after the onset of the pandemic the company moved towards an online and retail focused business model.
Post the strategic focus on building its online business, the company’s online sales rose from £1000 per week to over £100,000 during the period restaurant and pub businesses were closed.
Copyright © 2021 Kalkine Media
Let us look at 3 of the highest performing FTSE listed stocks in the food and beverages sector in 2021:
- Restaurant Group Plc (LON: RTN)
FTSE 250 index listed company Restaurant Group is a UK based chain of restaurants and public houses. It is also the owner of popular restaurant chain Wagamama’s in the UK.
The company had recently raised up to £175 million in a new shares placing and open offer. The capital raising will be used to act as a liquidity buffer against further pandemic related shocks and other measures.
(Image Source: Refinitiv)
Restaurant Group’s shares closed at GBX 123.00 on 13 August. The company’s market cap is at £941.98 million and its year to date return stand at 93.22 per cent as of 13 August.
Related Article: Average wages for UK pub and restaurant workers surge amid staff shortage
- City Pub Group Plc (LON:CPC)
FTSE AIM All-Share index listed firm City Pub Group is a UK based chain of pubs. It operates 48 pubs across Southern England and Wales.
The group recently announced in a trading update that it reached about 90 per cent of its pre-pandemic trading levels in 2019. The new trading figures were for the 42 pubs that had been reopened after the hospitality sector was permitted to reopen from 12 April onwards.
(Image Source: Refinitiv)
City Pub Group’s shares were trading at GBX 123.50 on 13 August. The company’s market cap is £128.14 million and its year-to-date return stands at 39.08 per cent as of 13 August.
- Mitchells & Butlers Plc (LON: MAB)
FTSE 250 index listed company Mitchells & Butlers is a major pubs, bars and restaurants operator in the UK, running about 1,784 pubs.
The group recently announced its Q3 2021 trading update, reporting it’s like for like sales stood at 98 per cent of its pre-pandemic levels in 2019 for the first 5 weeks since 17 May and 89 per cent for the next five weeks.
The figures are for the 10 weeks of trading since May, after restrictions were eased for indoor and outdoor seating.
(Image Source: Refinitiv)
Mitchells & Butlers’ shares closed at GBX 289.00 on 13 August. The company’s market cap is £1,724.22 million and its year-to-date return stands at 33.22 per cent as of 13 August.
Related Article: 4 Stocks to Explore as Sales at Hospitality Venues Soar with Indoor Opening
Bottom Line
Overall, the pub and broader hospitality sector have seen improved trading levels following easing of restrictions, after being hammered by lockdowns during the pandemic, due to pent up consumer demand.
