Langton Capital – 2022-11-23 – DPEU, BVIC, Hostelworld, rail strikes, Christmas, football & the rest:
DPEU, BVIC, Hostelworld, rail strikes, Christmas, football & the rest:A DAY IN THE LIFE: I’d like to thank Thames Water for emailing yesterday to tell us that the hosepipe ban had been lifted. Although a) I’ve never used a hosepipe in London and b) it has been siling down for several weeks suggesting that, just perhaps, the lifting of the ban was more of a formality than it was a shock to people. Anyway, as mentioned a couple of weeks ago, if any of the reservoirs out there would like any water, there’s plenty in our garden. And quite a bit came through the flat roof of our kitchen. Onto the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories are in the Premium Email. Reply to this email if you would like to upgrade. Prices for the Premium at time of writing are £345 for one subscription, £595 for multiple, both plus VAT. Or sign up for easy in, easy out monthly option HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: Christmas and the football: Keeping guests, who might rarely mix in the wild, apart when the World Cup clashes with Christmas Lunches and the rest is a bit of a task… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Rail strikes in December were not what the industry needed. The Business Travel Association has called on the rail unions and their employers (and the government) to work together to avert industrial action and hospitality firms, particularly in cities and in London, have made a similar plea. The RMT Union has confirmed industrial action for 48hrs over 13-14 December, 16-17 December, 3-4 Jan and 6-7 Jan. UKH CEO Kate Nicholls says ‚continued rail strikes have had a huge impact on our hospitality sector; preventing staff from making it into work and disrupting consumers’ plans meaning a huge drop in sales for venues across the sector.’ She adds ‘further strikes during the busiest time of the year for hospitality will be devastating, just as everyone was anticipating an uninterrupted Christmas period for the first time in three years.’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Retail Economics and Hypejar have conducted a survey of shoppers’ intentions and say that half of them are cutting back on the amount they spend on Christmas presents. The survey says that around 90% of lower-income households will be cutting back alongside around 68% of the more affluent… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The consumer: Research firm 56 Degrees Insight has conducted a survey in Scotland and has found ‘the biggest shift in Scottish consumer confidence in living memory’. It says some 89% of Scots surveyed are now “seriously concerned” about the cost of living… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Business rates. Altus Group reports that the 2023 revaluation of business properties will see business rates for pubs fall by more than £247m. • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Other news: The final batch of tickets for London’s New Year’s Eve celebrations will be released on 2 December, with more than 100,000 expected to go and see the capital’s New Year fireworks for the first time since 2019… Lime, the shared electric scooter and bike company, has partnered with Fuller’s to offer London hospitality staff another way to get home safe after late night shifts. Lime will provide Fuller’s 2,000 London-based hospitality staff with access to 50% off all Lime e-scooter and e-bike rides in the capital. COMPANY NEWS: DP Eurasia has updated on the first 10mths of trading in its current financial year saying that group system sales rose in LfL terms by 42.9% (in TRY terms) but fell by 7.7% if the hyperinflationary currency is taken into account. System sales in absolute terms by 11.6% (after IAS 29). • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Britvic has reported full year results saying that revenues rose 15.5% to £1.62bn with adjusted EBIT up 16.0% at £206m and adjusted PBT up 45.3% to £140.2m. The company reports adjusted earnings per share of 57.3p, up 29.3% and says that the full year dividend will be 29p, up 19.8% on last year. The group says free cash flow generation was £128.8m… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Budweiser is offering a warehouse full of beer to the country that wins the World Cup, after a last minute U-turn by Qatar left the company with a surplus of stock that would have been sold in the Qatari stadiums… The MCA reports that North Brewing Co is looking to open two new taprooms a year for the next five years. Co-founder John Gyngell said “North isn’t just north, it’s anywhere…We had been looking in Manchester for ages. We have been looking in London and we have visited sites in Newcastle and Edinburgh.” Diageo has made a minority investment in English whisky producer The Oxford Artisan Distillery. With the capital, The Oxford Artisan Distillery will be able to upgrade and expand its production sites, as well as develop its brand and consumer experience. The MCA reports that JD Wetherspoon has removed eggs from its breakfast menu amid a national shortage. A JDW spokesperson said ‘We can confirm that there are temporary issues with egg supplies at some Wetherspoon pubs…This is not specific to Wetherspoon and other hospitality operators and supermarkets are facing similar issues.’ The Caterer reports that Manorview has frozen prices across its hotel restaurants and bars to try and remain affordable to customers… Patrick Dardis, the former CEO of Young’s, has joined Brasserie Bar Co as a non-executive director. Mark Derry, executive chairman, said ‘We are extremely proud that someone of Patricks industry stature and extensive experience will help guide us through the coming years as we continue to develop the group.’ Icelandic fish company Iceland Seafoods UK has said it will exit its processing factory in Grimsby because of Brexit red tape. It says the factory, which employs almost 200 people, was no longer deemed “a strategic fit.” It says it could work for somebody else… HOLIDAYS & LEISURE TRAVEL: Hostelworld is to host a capital markets day today. It says ‘as covered by our Q3 trading update, we continue to see strong booking and revenue momentum, enabled by our innovative and differentiated social network strategy. October net revenues reached 106% of 2019 levels and in November we expect net revenue recovery to improve further.’ Hostelworld says ‘a combination of strong demand recovery across all geographies, the Group’s social network strategy delivering margin growth ahead of expectations and continued strong cost discipline means we expect to deliver Net Revenue of c. €70m and an adj. EBITDA of c. €1m in FY22.’ Which Magazine has ranked Leeds Bradford as the ‘worst’ UK airport for queues to pass through security. OTHER LEISURE: Entain has announced that it has completed the acquisition of the SuperSport Group in Croatia. Manchester United’s owners, the Glazer family, are said to be considering selling the club as they “explore strategic alternatives”. FINANCE & MARKETS: The OECD has forecast that the UK economy will have the worst economic performance in the G7 next year due to inflationary pressures brought on by worker shortages and what it calls an “untargeted” energy support package… Inflation. The OECD forecasts that inflation in the UK will be 9% early next year and that it will remain above the Bank of England’s 2% forecast until at least the end of 2024. Government borrowing in October came in at £13.5bn. Not all of the energy support packages are yet being included… The CBI has responded to Sir Kier Starmer’s speech to its conference, saying ‘business welcomes Labour’s pledge to establish a modern industrial strategy focused on new technology and green opportunities around the UK.’ It says ‘the commitment to looking at skills and migration together is also very welcome and exactly what the CBI has called for now for more than a year…’ Capital Economics has said that the UK government’s flip-flopping on economic policy has been “a bruising episode” for the country. Credibility is more rapidly lost than it is built. Broker Jeffries suggests that house builders will suffer unduly despite an anticipated dip in house prices. In due course we will see if that is the case or not. Sterling mixed at $1.1884 and €1.1508. Oil price higher at $88.16. UK 10yr gilt yield down 8bps at 3.13%. World markets better yesterday and London set to open up around 13pts as at 6.30am. THE AQUIS MARKET: Broker VSA Capital is hosting an Aquis Day on Tues 29 November at the Royal College of Surgeons (38-43 Lincoln’s Inn Fields, London, WC1A 3PE). The event will feature around 20 companies, who will present to attendants and take part in a competition to win the ‘Britain’s Got Aquis’ title. Judges on the day will include Andy Brough (Schroders) and Judith Mackenzie of Downing LLP. Tickets and details are available HERE https://www.eventbrite.co.uk/e/the-vsa-capital-aquis-showcase-event-tickets-430890363677?aff=odeimcmailchimp&mc_eid=cfe56acbe0&mc_cid=cd83de005f Attendance costs £20 – but Langton has a number of complimentary tickets and we’re open to suggestions as to who we should give them to…. Drop us a line. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. |
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