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Strong headwinds at the moment - food inflation, cost of living and continued poor weather to name a few. These things are all temporary and will subside. The excellent locations of the restaurants will remain however and I'm backing management to steer the company through this year. Despite the share price hammering since buying into this, nothing fundamental about the business model and growth strategy has changed. The year end update in October will probably not be much better but as long as the business still has immediate cash I'm not going to be worried. GLA
Overall the message was that the business is prepared well for the economic turbulence, and adjustments can be made which I would assume they will have to. I largely based my investment here on the experience of the management team and they will have seen similar conditions before. This will continue to grow nicely under the radar for a a few more years I think. GLA
Various Eateries management, Andy Bassadone, Executive Chairman, Oliver Williams, CFO and Yishay Malkov, CEO present interim results for the 26-week period ending 3 April 2022. A positive performance in line with expectations for the full year.
Video: https://www.piworld.co.uk/company-videos/various-eateries-vare-interim-results-presentation-june-2022/
Podcast: https://piworld.podbean.com/e/various-eateries-vare-interim-results-presentation-june-2022/
Went to Coppa Club Tower Bridge the other week. Backed up the management's eye for a great location. Food was good. The service on the other hand wasn't good which was disappointing, and reading through google reviews for this site it appears to be an issue. I hope the other sites are better with this and it's just temporary
Various Eateries #VARE full year results overview by the team, Executive Chairman, Andy Bassadone, CFO, Oli Williams & CEO, Yishay Malkov . This was filmed in Coppa, Putney which was buzzing with a great vibe. They experienced strong trading post-reopening facilitated by large outdoor spaces. They resumed the premium site roll-out programme marked with the opening of Cobham and Clifton Village. They remain poised to capitalise on the unprecedented site opportunity in terms of both availability and terms. Post period trading has been encouraging with momentum building.
Video: Https://www.piworld.co.uk/company-videos/various-eateries-vare-full-year-2021-results-overview/
Podcast: Https://piworld.podbean.com/e/various-eateries-vare-full-year-2021-results-overview/
Not heard of this being offered, I'd say it would be an unlikely thing to be implemented
Does anybody know whether shareholders are able get a discount when eating at any of the VARE restaurants ? I have emailed the company a number of times but have yet to receive any reply. Thanks.
Various Eateries PLC v. Allianz Insurance PLC
Another restaurant company is seeking to recover almost £16.4 million from Allianz in respect of losses suffered during the COVID-19 lockdowns, specifically £15.8 million for decreased turnover, £520,000 for increased working costs, and £30,000 in costs for the claim. Various Eateries’ claim for losses falls under different categories in its policy, namely the prevention of access clause, the enforced closure clause, and the disease clause. Relying on the FCA test case, Various Eateries’ position is that each lockdown and each set of restrictions constitutes distinct events under the policy.
I think it's likely to go ahead as they have already received 2.5 up front , this should give the re opening and expansion a real boost
Buy the recovery is my play here
Just bought in yesterday to this share and admittedly I was looking for a bit of a punt with some left over cash from selling other stock. However, the more I read about the background to VARE and their growth strategy the more confident I feel that this has good long-term potential. Willing to ride out any fluctuations this summer for progress later on
Yes, agreed. Very pleased I got in here when I did.
I bought these shares purely on the way company has handled themselves during the pandemic and feeling pretty certain they would come out strong. Their offer is perfect for remote workers wanting to plonk down for a few hours or meet with others. They have strong management who I assume they will take full advantage of the misery of others and snap up further sites feeding demand in affluent towns across the uk . You can’t currently get a table for love nor money at the Cobham restaurant (granted it’s only outside at present) and as a hospitality professional I thought their offer/service/price point was spot on and see a great future. Roll on May 17 ??
Quiet board here baz, but acquisitions would be natural course given how cheaply other premises/businesses can be picked up for at the moment.
Has anyone any views on what to expect with Various Eateries, now they are beginning to open their doors. I assume acquisitions must be on the horizon.
Theukboss
The progress should really start in June. Could be exciting!
Going to be good watching the progress of this company.
the dark before the dawn and they are perfectly positioned to grab market share. Really like the coppa club concept and locations are going to be perfect once the restrictions ease... I am in this morning.
Further lockdowns, rising covid cases, social distancing.
There couldn't be a worse time to float this type of company.
They probably said that about ASOS floated at 20p at the end of the dotcom boom.
Not invested, but will keep an eye on this as they seek to exploit weakened rivals.