DPP, Troia, Oakman, Finix, Lola’s, delivery, AI, demographics & other:

A DAY IN THE LIFE:

I think that complicated simplification is becoming a big thing.

I mean customer supplier portals for lodging invoices may make life easier for some people but they certainly don’t for me and, a few days ago, our dear HMG introduced new, simplified ways of logging on to certain government websites and it takes 16 clicks or keystrokes.

Of course the new way of doing things has overwritten the old in the Langton memory banks so I can’t remember quite how many clicks it was before but, I hasten to suggest, it was less than 16.

Now you have to click to use the portal, click to add your email address (albeit auto-filled) and then click to enter your auto-filled password and then find your phone to get the one-time-access-code and then enter the six-figure number.

And this isn’t to access the nuclear codes or the queen’s boudoir so why the palaver and, if there’s a company by the name of Palaver PLC, can I buy shares in it?

Anyway, enough of that.

Sound weather for the pay-weekend should have the tills singing so good luck to all and let’s move on to the news:

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PUBS & RESTAURANTS:

Demographics:

Drilling into the Resolution Foundation report produced yesterday suggests that, whilst post tax incomes in real terms across the UK will be virtually stagnant over the next five years, some demographics will fare better than others…

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The UK food delivery market:

CGA reported earlier this week that the market for delivery and takeaway was back in (albeit sub-inflation) growth. And, although we are slightly comparing apples with oranges, Lumina Intelligence reports that the UK food delivery market continues to expand, with projected growth of 3.1% to reach a market size of £14.3bn in 2025….’

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AI in hospitality:

Mercia Ventures announces an investment in Serve First, the AI-driven customer experience and feedback management platform. The company has raised £4.6m in an investment round backed by Mercia. The funding round is also backed by Pembroke VCT, Tiny VCT, Techstars and angel investors, will support the business’s expansion into Europe and the US, as well as product innovation and builds on its momentum to date, having tripled its annual recurring revenue (ARR) in the past 12 months, reports Mercia….

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Other news:

Buying rounds. Research carried out by YouGov has suggested that around 48% of adults in the country now prefer to buy their own drinks rather than enter into rounds. Only 38% took part in rounds with another 14% saying they didn’t know what they did….

DP POLAND – FULL YEAR NUMBERS:

DPP reports total sales up by 20.2% at £53.6m. The group adds that EBITDA rose by 37.6% to £4.8m and the loss before tax was reduced to £551k from a loss of £4.9m in the prior year. The basic loss per share is 0.06p compared to a loss of 0.7p in the prior year and, as expected, there is no dividend. Corporate store sales rose to £50.7m (FY23: £43.1m) and franchised fees and other sales made up the balance. The group is expected to pivot increasingly towards a franchised model. System sales were up 19.8% to £55.2m (2023: £46.1m). The group reports that ‘cash as at 31 December 2024 of £11.3m.’ it adds that ‘following repayment of the outstanding debt to Malaccan in December 2024, The Company is debt-free.’

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COMPANY NEWS:

Troia UK Restaurants, which owns the Ivy Collection of outlets, has reported results for the period to 5 Jan 2025 to Companies’ House saying that revenue rose by 3.9% to £327.1m. Higher admin costs pushed PBT down by 14.6% to £33.8m…

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Oakman Group, which owns Oakman Inns & Restaurants, has filed its notice of intention to appoint administrators….

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Nottingham-based Finix Restaurants Ltd, which franchises a chain of McDonald’s restaurants, has reported results for the year to 31 December to Companies’ House saying that revenue rose fractionally, by 0.2%, to £21.9m for the year. The group reports gross profit up by 2.3% on slightly wider margins. Admin costs are higher and the loss before tax is £20k compared with a loss in the prior year of £54k…

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Lola’s Cupcakes, which manufactures ‘high-quality fresh cakes, cupcakes, brownies and cheesecakes which are sold through our UK stores or through our successful and growing on line sales platform’ has reported figures for the year to end-December 2024 to Companies House saying that revenues rose by 5.2%  to £26.2m. The company reports gross profit up 6.9% on slightly higher margins, having trimmed admin expenses, it is able to report PBT almost trebled at £2.1m….

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Tims China is reported to be closing underperforming company-owned stores and accelerating its move to a franchised model. Franchising reduces capital risk for the brand owner and, in the right circumstances, it could allow for faster growth.

Valiant Pub Company has announced Mark McGinty in the role of CEO. He will succeed Gerry Carroll, who becomes executive chairman.

Starbucks has denied that it is considering a full sale of its China business.

HOLIDAYS & LEISURE TRAVEL:

Dalata has confirmed that it has completed the Acquisition of the Radisson Blu Hotel Dublin Airport.

Eurostar train services between the UK and the continent resumed yesterday after problems on Wednesday left would-be travellers stranded.

OTHER LEISURE:

Nike in the US reported what were its worst quarterly earnings in over three years. It nonetheless remains optimistic that it can post better numbers going forward. The company reported financial Q4 revenues of $11.1bn, ahead of expectations but the lowest figure since its third quarter of 2022. The company reported net income of $211mn, an 86 per cent drop from the same period last year…

FINANCE & MARKETS:

Bank of England governor Andrew Bailey yesterday commented on the UK economy saying that ‘elevated global uncertainty’ should be expected to affect UK businesses. He perhaps dampens near-term interest rate cut enthusiasm when he says ‘wage growth remains an important factor behind the remaining persistence in services price inflation in particular….’

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The CBI has reported that retail sales fell for the ninth consecutive month in June. It says ‘retailers reported that annual sales volumes fell at a sharp pace’ in the month and adds that volumes ‘for the time of year were judged to be “poor”.’

The SMMT has reported that UK vehicle production fell by around a third in May as manufacturers held off on shipping to the US until the tariff situation became clearer….

Sterling higher, predominantly against a weaker US$ at $1.3724 and €1.1747. Oil higher at $68.19. UK 10 year gilt yield up 1 basis point at 4.47%. World markets mixed yesterday and London set to open around 14 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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