DOCSLIB.ORG

University of Huddersfield Repository

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
University of Huddersfield Repository University of Huddersfield Repository James, Aidan M Measuring Performance in the Hospitality Industry: An evaluation of the Balanced Scorecard approach in the UK’s Licensed Retail Sector Original Citation James, Aidan M (2009) Measuring Performance in the Hospitality Industry: An evaluation of the Balanced Scorecard approach in the UK’s Licensed Retail Sector. Masters thesis, University of Huddersfield. This version is available at http://eprints.hud.ac.uk/9058/ The University Repository is a digital collection of the research output of the University, available on Open Access. Copyright and Moral Rights for the items on this site are retained by the individual author and/or other copyright owners. Users may access full items free of charge; copies of full text items generally can be reproduced, displayed or performed and given to third parties in any format or medium for personal research or study, educational or not-for-profit purposes without prior permission or charge, provided: • The authors, title and full bibliographic details is credited in any copy; • A hyperlink and/or URL is included for the original metadata page; and • The content is not changed in any way. For more information, including our policy and submission procedure, please contact the Repository Team at: [email protected]. http://eprints.hud.ac.uk/ Measuring Performance in the Hospitality Industry: An evaluation of the Balanced Scorecard approach in the UK’s Licensed Retail Sector Aidan Michael James BA (Hons) A thesis submitted to the University of Huddersfield in partial fulfilment of the requirements for the degree of Master of Philosophy. The University of Huddersfield August 2009 Volume 1 of 2 1 COPYRIGHT STATEMENT i. The author of this thesis (including any appendices and/or schedules to this thesis) owns any copyright in it (the “Copyright”) and he has given The University of Huddersfield the right to use such Copyright for any administrative, promotional, educational and/or teaching purposes. ii. Copies of this thesis, either in full or in extracts, may be made only in accordance with the regulations of the University Library. Details of these regulations may be obtained from the Librarian. This page must form part of any such copies made. iii. The ownership of any patents, designs, trade marks and any and all other intellectual property rights except for Copyright (the “Intellectual Property Rights”) and any reproductions of copyright works, for example graphs and tables (“Reproductions”), which may be described in this thesis, may not be owned by the author and may be owned by third parties. Such Intellectual Property Rights and Reproductions cannot and must not be made available for use without the prior written permission of the owner(s) of the relevant Intellectual Property Rights and/or Reproductions. 2 DECLARATION I declare that this dissertation is the result of my own individual efforts and that it conforms to university, departmental and course regulations regarding cheating and plagiarism. No material contained within this dissertation has been used in any other submission, by the author, for an academic award. Students Name: - Aidan Michael James Signature: - Date: - August 2009 The copyright of this thesis rests with the author. No quotation from it should be published without prior written consent and the information derived from it should be acknowledged. 3 ABSTRACT The research investigates the role of performance measurement within the hospitality industry and in particular, the UK’s licensed retail sector. The research aimed to: 1) Analyse what is meant by performance management and to establish its application and use in various types of business; 2) Explain the balanced scorecard approach to performance measurement and to assess its theoretical and business value; 3) Establish the methods of performance measurement utilised by licensed retailers and to evaluate the effectiveness of these methods; 4) Apply the balanced scorecard method in selected collaborating organisations and to compare its usefulness to more traditional methods of performance measurement; and 5) Make recommendations and evaluate how a balanced scorecard approach might improve performance management in the licensed house sector. The research highlighted a shortage of hospitality-related research with the industry predominantly using financial performance measures. The balanced scorecard was therefore put forward as a solution as it measures both the financial and non-financial performance of an organisation. The financial and non-financial performance measures used by financial analysts and pub companies were identified through questionnaire surveys and semi-structured interviews, the results of which demonstrate the licensed retail sector’s reliance on financial performance measures. Case studies were developed on a number of Managed and Leased/Tenanted pub companies (PubCo’s) which also demonstrated this reliance, although the Managed PubCo’s are beginning to embrace non-financial measures and two of the Managed PubCo’s had adopted the balanced scorecard approach. The fast pace of consolidation which is evident within the UK’s licensed retail sector had impacted upon the research as three of the PubCo’s featured in the case studies had been acquired by competitors during the study. The PubCo’s sampled for the questionnaires also changed during the data collection process, mainly due to consolidation. It was recommended that further research would be necessary to develop a balanced scorecard for the UK’s licensed retail sector. It was also suggested that further empirical research could be conducted within those PubCo’s identified as using the balanced scorecard, to determine the extent to which the balanced scorecard assists them in managing and improving both their financial and non-financial performance. The author suggests that The Centre for Licensed Retailing at Nottingham Trent University might provide the resources to continue with the research with a need also to develop standardised definitions of the financial performance measures used by PubCo’s. This development would enable performance data to be compared across the sector whilst also removing the opportunities for data manipulation by PubCo’s which was identified during the research. 4 ACKNOWLEDGEMENTS Many people have helped, both consciously and unconsciously, with this research project. It is difficult to acknowledge all those who contributed in what might sometime be quite small, but significant ways. Several people, though, have been of major assistance, and I would like to thank the following people: - 1 Geof Collyer, Head of Research – Pan European Leisure, Deutsche Bank AG. 2 David Blackledge, Finance Director, InnSpired Pubs. 3 Adam Collett, Marketing Director, Greene King Pub Company. 4 Ian Frost, Commercial Director, Avebury Taverns. 5 Jim Hill, Company Secretary, W.H. Brakspear & Sons plc. 6 Stuart Price, Financial Analyst, Panmure Gordon. 7 Julian Sargeson, Operations Director, Wizard Inns. 8 Catherine Gordon, Director of Performance & Business Intelligence EMEA, InterContinental Hotels Group plc. Finally, the greatest acknowledgements go to Professor Colin Bamford who has supervised me for the past six years. I also wish to acknowledge my parents, my brother and also my two daughters (Elysia & Emmie) who have provided me with the support and encouragement to succeed with this research study. 5 ABBREVIATIONS List of abbreviations used throughout the thesis, in alphabetical order: - ABC = Activity-Based Costing ABM = Activity-Based Management Ad Costs = Administration Costs to Sales AGM = Annual General Meeting AIM = Alternative Investment Market ALMR = Association of Licensed Multiple Retailers AOD = Advance of Discount Av EBITDAR = Average EBITDAR AWP = Amusement-With-Prizes AWP Inc = Amusement-With-Prizes Income AWS = Average Weekly Sales AWT = Average Weekly Turnover BBC = British Broadcasting Corporation BBPA = British Beer & Pub Association BCG = Boston Consulting Group BDM = Business Development Manager Beer Mar = Beer Margin BES = Business Expansion Scheme BII = British Institute of Innkeeping BLRA = Brewers & Licensed Retailers Association BNFL = British Nuclear Fuels Limited 6 BPC = Brakspear Pub Company BP = British Petroleum plc bps = Basis Points b/s = Balance Sheet BSC = Balanced Scorecard BT = British Telecommunications plc CAGR = Compound Annual Growth Rate CapEx = Capital Expenditure CAMRA = Campaign for Real Ale CBP = Centre for Business Performance CCH = Country Club Hotel Group [Whitbread] CEMP = County Estate Management (Pubs) Limited CEO = Chief Executive Officer CFD = Contracts for Difference CHK = Caterer & Hotelkeeper CHME = Council for Hospitality Management Education CIMA = Chartered Institute of Management Accountants CPS = Crown Prosecution Service COO = Chief Operating Officer Cranfield = Cranfield School of Management CROCCE = Cash Return on Cash Capital Employed CSFB = Credit Suisse First Boston CSFs = Critical Success Factors C-T = Carlsberg Tetley 7 DB = Deutsche Bank DCF = Discounted Cash Flow DEA = Data Envelopment Analysis Dep/Sales = Depreciation to Sales DIC = Dubai International Capital DLL = David Lloyd Leisure DMP = Dynamic Multi-dimensional Performance model DSCR = Debt Service Cover Ratios DTI = Department of Trade & Industry DTLR = Department of Transport, Local Government & the Regions E Anglia = East Anglia EBITDA = Earnings before interest & divisional overheads, tax, depreciation & amortisation EBITDA Mar = EBITDA Margin
Load more

Recommended publications
  • Differences in Energy and Nutritional Content of Menu Items Served By
    RESEARCH ARTICLE Differences in energy and nutritional content of menu items served by popular UK chain restaurants with versus without voluntary menu labelling: A cross-sectional study ☯ ☯ Dolly R. Z. TheisID *, Jean AdamsID Centre for Diet and Activity Research, MRC Epidemiology Unit, University of Cambridge, Cambridge, United a1111111111 Kingdom a1111111111 ☯ These authors contributed equally to this work. a1111111111 * [email protected] a1111111111 a1111111111 Abstract Background OPEN ACCESS Poor diet is a leading driver of obesity and morbidity. One possible contributor is increased Citation: Theis DRZ, Adams J (2019) Differences consumption of foods from out of home establishments, which tend to be high in energy den- in energy and nutritional content of menu items sity and portion size. A number of out of home establishments voluntarily provide consumers served by popular UK chain restaurants with with nutritional information through menu labelling. The aim of this study was to determine versus without voluntary menu labelling: A cross- whether there are differences in the energy and nutritional content of menu items served by sectional study. PLoS ONE 14(10): e0222773. https://doi.org/10.1371/journal.pone.0222773 popular UK restaurants with versus without voluntary menu labelling. Editor: Zhifeng Gao, University of Florida, UNITED STATES Methods and findings Received: February 8, 2019 We identified the 100 most popular UK restaurant chains by sales and searched their web- sites for energy and nutritional information on items served in March-April 2018. We estab- Accepted: September 6, 2019 lished whether or not restaurants provided voluntary menu labelling by telephoning head Published: October 16, 2019 offices, visiting outlets and sourcing up-to-date copies of menus.
    [Show full text]
  • Leisure Opportunities 13Th January 2017 Issue
    Find great staffTM leisure opportunities 13 - 23 JANUARY 2017 ISSUE 701 Daily news & jobs: www.leisureopportunities.co.uk David Lloyd returns to leisure with new venture David Lloyd is returning to the Lloyd, executive chair and leisure industry with a multi- majority shareholder in David activity concept – called David Lloyd’s Adventure Parks Lloyd’s Adventure Parks. said: “I built some of the first Lloyd is planning to open 12 commercial leisure venues in venues by 2021, with business the UK and they were also some partners Holmes Investment of the largest, most profitable Properties, as he aims to centres in the country. tap into the £4bn leisure “As the market evolves, we are and entertainment sector. bringing together rare to find, Each park is expected to cost, but easy to love, new activities on average, £4-5m to set up. from climbing walls to zip wires Eleven sites near cities and large and the biggest collection of towns with good transport links trampolines in one place. I’ve are under review and planning got thirty-four years’ experience permission is being sought for in the sector, and we will be them. The first park is expected using everything we have learnt to open by the end of 2017. David Lloyd expects to open the first of the adventure parks by the end of 2017 to make our adventure parks the The sites will be three acres, best in the country.” offering zip wires, soft play, trampolining and scratch – David Lloyd Leisure, founded in Martin Helme, Holmes Investment climbing walls as well as restaurants.
    [Show full text]
  • Download Restaurants Fast Food Sector Sheet
    The following are examples of projects we have recently completed KFC Restaurants Nationwide RBC have provided building control services for over 600 projects over 12 years for KFC and franchisee restaurants, working alongside their approved list of architects. These projects have ranged from new build drive-thru restaurants to high street fit-outs and refurbishments. RBC have assisted in the development of new build model types for national roll out across the country. Restaurants – Fast Food Restaurants Burger King Nationwide RBC have worked on numerous fit-outs and refurbishments of retail units to form new and updated restaurants. A number of these have been in existing shopping centres where we have worked closely with the centre management and local fire service to ensure that the existing fire strategies for these centres are maintained with the introduction of the new restaurant units. Pizza Hut Nationwide We have worked on over 20 projects with a number of franchisees, providing building control services for the internal refurbishment and alterations of existing high street units to form new Pizza Hut and Pizza Hut Express restaurants. A selection of projects in the Restaurants - Fast Food sector PROJECT DESCRIPTION CLIENT Starbucks Internal fit out and associated building works to stores @Architects in England and Wales Frank Belshaw Design Costa Coffee Working on a number of new build and fit-out Street Eite Associates store openings PEP Project Management Fuel Juice Bars National franchised new store expansion programme Sale Property Consultants throughout England and Wales Railston Ltd Fuel Juice Bars Ltd Taco Bell Restaurants RBC have worked alongside a major franchisee on a InHaus Solutions Ltd number of new store openings Restaurants – Fast Food Restaurants Beefeater/Harvester Working on over 94 projects for internal Hone Edwards Restaurants refurbishments nationwide Associates East Beach Café New beach front café to replace existing kiosk Heatherwick Studio Litttlehampton, Sussex Baskin & Robbins Fit-outs for 2no.
    [Show full text]
  • Annual Report and Accounts
    2 0 1 4 Annual Report and Accounts www.mbplc.com Mitchells & Butlers plc Annual Report and Accounts 2014 Mitchells & Butlers plc is Our strategy to achieve this a member of the FTSE 250 vision has five key elements: and runs some of the UK’s •• Focus•the•business•on•the•most• best-loved restaurant and pub attractive•market•spaces•within• brands including All Bar One, eating•and•drinking•out Harvester, Toby Carvery, •• Develop•superior•brand• Browns, Vintage Inns and propositions•with•high•levels•• Sizzling Pubs. Our vision is to of•consumer•relevance run businesses that guests love •• Recruit,•retain•and•develop• to eat and drink in, and as a engaged•people•who•deliver• result grow shareholder value. excellent•service•for•our•guests •• Generate•high•returns•on• investment•through•scale• advantage •• Maintain•a•sound•financial•base Strategic report 2–33 Contents Strategic report 2 2014 Highlights 3 Chairman’s statement 4 Mitchells & Butlers at a glance Chief Executive’s statement Page 6 Governance Governance 35 Chairman’s introduction to Governance 36 Board of Directors 34–66 38 Directors’ report 6 Chief Executive’s statement 42 Directors’ responsibilities statement 8 Our market 43 Corporate governance statement 10 Our business model 48 Audit Committee report 12 Our strategy 50 Report on Directors’ remuneration 14 Our strategy in action 18 Risks and uncertainties 22 Key performance indicators Financial statements 24 Business review 68 Independent auditor’s report to the 26 Corporate social responsibility members of Mitchells & Butlers
    [Show full text]
  • N5925 Cover 99
    WHITBREAD PLC ANNUAL REPORT AND ACCOUNTS 1998/9 ANNUAL REPORT OUR BUSINESSES ARE POSITIONED IN MARKETS WHERE GROWTH IS DRIVEN BY WELL-ESTABLISHED CONSUMER TRENDS. IN ADDITION, MANAGEMENT HAS TAKEN FURTHER ACTION TO STRENGTHEN THE CONSUMER APPEAL OF OUR BRANDS, PARTICULARLY THROUGH ENHANCED CUSTOMER SERVICE, AND REMAINS FOCUSED ON IMPROVING RETURNS THROUGH INCREASED EFFICIENCY. CONTENTS 2 FINANCIAL HIGHLIGHTS 4CHAIRMAN’S STATEMENT 5 COMPANY OVERVIEW 6 OPERATING AND FINANCE REVIEW 14BOARD OF DIRECTORS 16 DIRECTORS’ REPORT 18 – CORPORATE GOVERNANCE 20 – REMUNERATION REPORT This document contains detailed financial and statutory information and constitutes Whitbread PLC’s annual report and accounts for 1998/9. The company also publishes a shorter document, the Whitbread annual review, which aims to give private shareholders a good overview of the company’s results and activities. 26 STATEMENT OF DIRECTORS’ 32 BALANCE SHEETS RESPONSIBILITIES 33 CASH FLOW STATEMENT 27 REPORT OF THE AUDITORS 34 NOTES TO THE ACCOUNTS 28 ACCOUNTING POLICIES 56 FIVE YEAR SUMMARY 30 GROUP PROFIT AND LOSS ACCOUNT 58 GLOSSARY 31 STATEMENT OF TOTAL RECOGNISED GAINS 60 SHAREHOLDER SERVICES AND LOSSES 31 HISTORICAL COST PROFITS AND LOSSES 2 FINANCIAL HIGHLIGHTS SEGMENTAL TURNOVER ANALYSIS 1998/9 Beer Pub Partnerships Inns Restaurants Hotels Sports, health and fitness Other drinks TURNOVER INCLUDING JOINT VENTURES (£m) PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (£m) 3,313 3,410 3,131 354.8 365.3 2,840 316.5 2,556 283.1 255.1 1994/5 1995/6 1996/7 1997/8 1998/9 1994/5 1995/6 1996/7 1997/8 1998/9 WHITBREAD PLC ANNUAL REPORT AND ACCOUNTS 3 FINANCIAL HIGHLIGHTS SEGMENTAL PROFIT ANALYSIS 1998/9 Beer Pub Partnerships Inns Restaurants Hotels Sports, health and fitness Other drinks TO HAVE ACHIEVED A 4.6% INCREASE IN ADJUSTED EARNINGS PER SHARE IN DIFFICULT MARKET CONDITIONS WAS A CREDITABLE PERFORMANCE.
    [Show full text]
  • Pubs and Places: the Social Value of Community Pubs CONTENTS
    REPORT PUBS AND PLACES THE SOCIAL VALUE OF COMMUNITY PUBS Rick Muir January 2012 Second edition © IPPR 2012 Institute for Public Policy Research PUBS AND PLACES The social value of community pubs Rick Muir Second edition, 2012 ABOUT THE AUTHOR Rick Muir is associate director for public service reform at IPPR. ACKNOWLEDGMENTS IPPR would like to thank the Campaign for Real Ale (CAMRA) for their generous support of this project. The author would like to thank all those who contributed to his thinking during the course of the research, in particular Guy Lodge, Mike Benner, Jonathan Mail, Michael Kenny, Gill Gibson, Ruth Sheldon, Naomi Jones, Matthew Lockwood, Tony Dolphin, Karl Hallam, John Pritchard, John Grogan and Greg Mulholland. Thanks are due to my IPPR colleague Jonathan Clifton, who wrote chapter 4 for this revised second edition. I also wish to thank you to all those pub regulars and licensees who took the time to talk to me during the course of the research. Any omissions and errors remain the author’s, and the report’s analysis and recommendations do not necessarily represent the views of the project’s supporters. ABOUT IPPR IPPR, the Institute for Public Policy Research, is the UK’s leading progressive thinktank. We produce rigorous research and innovative policy ideas for a fair, democratic and sustainable world. We are open and independent in how we work, and with offices in London and the North of England, IPPR spans a full range of local and national policy debates. Our international partnerships extend IPPR’s influence and reputation across the world.
    [Show full text]
  • Britvic Annual Report 2008
    Britvic plc Britvic plc Britvic House Broomfield Road 2008 Annual Report Britvic plc Chelmsford Essex CM1 1TU Annual Report 2008 Telephone 01245 261871 Fax 01245 267147 www.britvic.com Electronic communications Shareholders can elect to receive shareholder documents electronically by registering with Shareview at www.shareview.co.uk Who We Are This will save on printing and distribution costs, creating environmental benefits. When you register, you will be sent an email notification to say when shareholder documents are available on our website and you will be provided with a link to that information. Britvic is one of the two leading branded soft drinks When registering, you will need your shareholder reference number which can be found on your share certificate or proxy form. businesses in the UK and the Republic of Ireland. Many Please contact Equiniti if you require any assistance or further information. Contacts of our brands are either first or second in their respective The Company Secretary is John Price and the registered office is Britvic House, Broomfield Road, Chelmsford CM1 1TU, categories. We have a strong track record of innovation telephone 01245 504482, fax 01245 504435, website www.britvic.com The Company’s Registrar is Equiniti, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA, telephone 0871 384 2520* in products, packaging and marketing activity. In 2007 (UK callers) +44 121 415 7047 (non-UK callers). we expanded into Ireland with a significant acquisition * For those with hearing difficulties, a textphone is available on 0871 384 2255 for UK callers with compatible equipment. Further copies of this report are available from the Company’s registered office (address as above) and may be accessed through and we have a long-standing bottling agreement the Company’s website, www.britvic.com with PepsiCo for key brands such as Pepsi, 7UP and Gatorade in UK and Ireland.
    [Show full text]
  • Yummy.WHERE to DINE in CUMBERLAND GALLERIA VININGS
    yummy.WHERE TO DINE IN CUMBERLAND . GALLERIA . VININGS Welcome to Cobb County, Atlanta’s sweet spot. We are excited to have you. During your stay you will find a variety of restaurants and many eateries in the Cumberland Galleria area. If you and a friend or a group are looking for great food, all of these locations are ready to serve you and look forward to making your dining experience an enjoyable one. Venture out and experience the tastes. Corresponding restaurants are listed on the back. 16 Windy Hill Road North on Cobb Pkwy/41 37 36 40 33 21 20 42 41 27 24 50 14 49 25 45 12 1 46 59 23 60 31 30 1 2 3 8 58 48 47 35 55 53 17 18 29 28 57 22 61 39 10 7 6 19 56 5 15 38 43 11 51 9 32 13 44 To Vinings 4 34 62 54 52 26 Corresponding restaurants are listed on the back. For more restaurant listings, sweet deals and what to do while visiting Cobb County, check out our website www.travelcobb.org. Restaurant Listing 1. Applebee’s 35. P.F. Chang’s 2. Big Chow Grill 36. Pappadeaux Seafood Kitchen 3. Buckhead Pizza Company 37. Pappasitos’s Cantina 4. C&S Seafood and Oyster Bar 38. Pizza Hut 5. Carrabba’s 39. Pollo Tropical 6. Chick-fil-a 40. Ray’s On The River 7. Chipotle Mexican Grill 41. Red Lobster 8. Cinco’s Mexican Cantina 42. Scalini’s 9. Copeland’s of New Orleans 43.
    [Show full text]
  • PROPERTY REQUIREMENTS David Lloyd Leisure 01 Property Requirements 02
    PROPERTY REQUIREMENTS David Lloyd Leisure 01 Property Requirements 02 DAVID LLOYD LEISURE GROUP LIMITED David Lloyd Leisure is Europe’s leading premium health, fitness and racquets group. We currently The Group is owned by London-based private Our membership base comprises the more affluent We’ve been voted into the Sunday Times Top 25 equity firm TDR Capital who have heavily invested demographic groups and our clubs are very much Best Companies to Work For in 2017 & 2018 by our have 114 clubs, 99 clubs of which are in the UK under our two brands David Lloyd Clubs and in the business since its acquisition in 2013. In the family-focused. To our members, we’re far more highly engaged 8600 team members, who are central last three years we’ve opened five new-build clubs than just a gym or a tennis club. to delivering excellent member service and the unique Harbour Clubs (of which there are three - Chelsea, Notting Hill and Kensington in London). In Europe, in Glasgow, Colchester and Newbury in the UK, plus ‘clubby’ atmosphere that drives our members to visit we have 15 clubs across the Netherlands, Belgium, Spain, Italy, France, Germany and Ireland. Antwerp in Belgium and Aravaca, Madrid. In 2017 Around 22% of our members are children under 16, more and stay with us longer. we acquired an additional 16 clubs in the UK and who join our clubs with their families to enjoy our one in Italy, all of which have been re-branded as industry-leading family sports and leisure facilities.
    [Show full text]
  • Restaurants, Takeaways and Food Delivery Apps
    Restaurants, takeaways and food delivery apps YouGov analysis of British dining habits Contents Introduction 03 Britain’s favourite restaurants (by region) 04 Customer rankings: advocacy, value 06 for money and most improved Profile of takeaway and restaurant 10 regulars The rise of delivery apps 14 Conclusion 16 The tools behind the research 18 +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 2 Introduction The dining sector is big business in Britain. Nine per cent of the nation eat at a restaurant and order a takeaway at least weekly, with around a quarter of Brits doing both at least once a month. Only 2% of the nation say they never order a takeaway or dine out. Takeaway trends How often do you buy food from a takeaway food outlet, and not eat in the outlet itself? For example, you consume the food at home or elsewhere Takeaway Weekly or Monthly or several Frequency more often times per month Less often Never Weekly or more often 9% 6% 4% 1% Monthly or several times per month 6% 24% 12% 4% Eat out Eat Less often 3% 8% 14% 4% Never 0% 1% 1% 2% (Don’t know = 2%) This paper explores British dining habits: which brands are impressing frequent diners, who’s using food delivery apps, and which restaurants are perceived as offering good quality fare and value for money. +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 3 02 I Britain’s favourite restaurants (by region) +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 4 02 I Britain’s favourite restaurants (by region) This map of Britain is based on Ratings data and shows which brands are significantly more popular in certain regions.
    [Show full text]
  • Butt Foods Vegan Snapshot UPDATED 11 05 18
    SNAPSHOT OF THE GROWING VEGAN SCENE IN THE UK The rise of veganism in the UK and what it may mean for foodservice opportunities From being seen as niche and ‘quirky’ even just ten years ago, veganism is now more popular than ever across the UK. Driven primarily by younger people responding to growing fears over personal health, animal welfare and climate change – and fuelled by campaigns such as the annual Veganuary – the growing interest and participation in veganism looks set to continue. As ever, for foodservice operators, the vegan movement represents both a challenge and an opportunity. Either way, it can’t be ignored. Veganism is Most trend forecasters and market analysts agree that the era of mainstream becoming more veganism has arrived. Growing out of its perceived eccentric origins, and latterly its mainstream and trendy, ‘metropolitan hipster' cache, the increasingly wide interest in the vegan way less niche. of eating is fuelled by a variety of powerful – and highly topical – consumer motives and supported by a burgeoning industry of crowd-funded new business start-ups, cookbooks, Youtube channels, social media and events. But to properly understand the growth it’s important to recognise that it’s largely a ground-up movement, driven mainly by under-35s, and their motivations suggest that this is sustainable growth. "1 of "15 What’s a vegan? Like vegetarians, vegans have cut all meat and fish from their diet, but they go a step further and also exclude any products of animal origin, such as milk, cheese, eggs and honey. More than 860,000 of all vegetarians and vegans also avoid all non- dietary animal products such as leather and wool.! ! The vegan ‘halo effect’ Demand is being It’s interesting to note that, beyond the core of declared vegans, there seems to be a driven not only by growing ‘halo’ of consumers who are not actually vegans themselves, but exhibit declared vegans, but by non-vegans vegan buying behaviour from time to time.
    [Show full text]
  • Interactive PDF Whitbread PLC Annual Report and Accounts 2013/14
    Whitbread PLC Annual report and accounts 2013/14 Interactive PDF User guide This PDF allows you to find information and navigate around this document more easily. Links in this PDF Words and numbers that are underlined are links – clicking on them will take you to further information within the document or to a web page (which opens in a new window) if they are a url (e.g www.whitbread.co.uk). Guide to buttons Back to user guide Search this PDF Print options Preceding page Next page Last visited page Annual Report and Accounts 2013/14 “ Making everyday experiences special” Overview Financial highlights Whitbread has delivered another year of strong double–digit growth in sales, profit and dividend. p1/5 More on our financial performance p4 Chairman’s statement p6 Chief Executive’s review p38 Finance Director’s review Total revenue Underlying basic EPS2 report Strategic £2,294.3m +13.0% 179.02p +20.1% m p m p p6/43 m p m p Underlying profit 2 before tax Full–year dividend £411.8m +16.5% 68.80p +19.9% m p m p Governance m p m p 3 4 Group return on capital Cash flow from operations p44/81 13.9%1 to 15.3% £526.0m to £601.3m Net debt Group like for like sales £471.1m to £391.6m Up 4.2% 1 Restated for the impact of IAS 19 (revised 2011). 3 Return on capital is the return on invested capital 2013/14 accounts Consolidated See Note 2 of the consolidated financial statements which is calculated by dividing the underlying profit for 2012/13.
    [Show full text]