Finance

STRONG HALF-YEAR RESULTS FOR REDCAPE

Posted on February 17th, 2021 by Clyde Mooney
Listed pub entity Redcape Hotel Group (ASX:RDC) has announced strong financial results for the half-year ended 31 December 2020, and a return to “full growth strategy” backed by a strong balance sheet.  Highlights for 1H21 included an increase in statutory

BOUTIQUE PUB CO BOWS OUT

Posted on January 22nd, 2021 by Clyde Mooney
The last of the Boutique Pub Co has gone, with SV Partners appointed as liquidator for the failed operation and closed premises. Queensland publican Mic Uebergang oversaw Boutique Pub Co, operating The Florence Public House in Toowoomba, which made something

IRIS SWOOPS ON IBIS IN $180m DEAL

Posted on November 27th, 2020 by Clyde Mooney
Sam Arnaout’s Iris Capital has pounced on a portfolio of 17 Ibis hotels from Accor Invest in a deal worth $180 million, making it the biggest hotel transaction of the year. The massive deal is for 17 freehold hotels, amounting

ALE RECORDS VALUE GROWTH AND TIGHTER YIELDS

Posted on November 18th, 2020 by Clyde Mooney
Following completion of independent valuation and a rent-determination process, ASX-listed ALE Property Group has recorded a $51.6 million gain in the value of its 86-venue portfolio and further support to its case for rental increases. As of 31 October the

DAM PUB FUND’S EXPANDING PLANS

Posted on November 2nd, 2020 by Clyde Mooney
The reopening of the famous Lion Hotel this week heralds the launch of a new multi-million-dollar pub investment fund with high ambitions to be one of the biggest in the country. Duxton Asset Management (DAM) is founded by Ed Peter,

ALH FLAGS PUBS WON’T REOPEN AS ALE CALLS OUT MANAGEMENT

Posted on October 26th, 2020 by Clyde Mooney
Woolworths-backed ALH has flagged not reopening Melbourne pubs under restricted capacity, as landlord ALE drags the group back to court questioning the quality of management at venues. From 2 November licensed venues in Melbourne including pubs will be allowed to

REBOUND REFLECTED IN REDCAPE Q1

Posted on September 23rd, 2020 by Clyde Mooney
ASX-listed Redcape has put forth a very positive result for the first quarter of FY21, citing quick adaptation to the changing landscape and stamping an upcoming distribution for security-holders. Redcape Hotel Group (ASX:RDC) announced its FY20 financial results on 19

ALE SLUMPS ON NEWS BACKING NO RENT INCREASES

Posted on September 21st, 2020 by Clyde Mooney
In a significant development for the increasing discussion around rent for tenants in the aftermath of COVID-19, the ASX-listed ALE Property Group announced it has taken a backward step in its quest for rental increases at many of its ALH-occupied

MATHIESON PREDICTS LONG RECOVERY AS ALH STRUGGLES

Posted on September 7th, 2020 by Clyde Mooney
Pub chieftain Bruce Mathieson predicts a long and bumpy recovery from COVID-19, as Australia’s biggest publican is further hammered by restrictions and shutdowns. In a recent interview with The Australian, Mathieson spoke of grave fears for the economic damage being

WOW PROFIT SLUMP BLAMED ON PUBS

Posted on August 28th, 2020 by Clyde Mooney
ASX-listed supermarket giant Woolworths has reported a major profit reduction in its full year results for FY20, largely under the weight of the ALH portfolio being closed for months. Woolworths Group (ASX:WOW) chief executive Brad Banducci offered that earnings had