Langton Capital – 2023-04-03 – Labour, energy costs, Stonegate, Oakman, holiday demand etc.:
Labour, energy costs, Stonegate, Oakman, holiday demand etc.:A DAY IN THE LIFE: So, after an exciting week when I could never be sure that I’d put all of the timepieces in the modest Langton empire forward an hour and that I wouldn’t be arriving for meetings sixty minutes late, I’m now reasonably sure that the job has been done. Seven hanging clocks in the house, two in the office and one in each car and, if the Fitbits, phones and computers can’t do it for themselves, then I’m about ready to give up. Anyway, it’s the first of a series of short weeks in April & May this week. And we have a slightly shorter email than usual due to holidays etc, but let’s nonetheless move onto the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories (after the ellipses) are in the Premium Email. Reply to this email if you would like to upgrade. Prices for the Premium are £395 for one subscription, £695 for multiple, £995 for very large subscribers, all plus VAT. Or sign up for easy in, easy out monthly option per subscriber HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: Trends vs fads: Barclays has conducted work into which consumer trends adopted during the pandemic ‘have stood the test of time and which have been left behind’. It says that ‘legacies’ include the number of new businesses started during Covid and adds that meal-kit subscriptions have held up… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Labour issues: Recruitment firm Hays has found that a third of employers are more likely to consider cramming a week’s work into four days if staff came back to the office to kick off the week… Property issues: Real estate agent Robert Irving Burns reports that the supply of commercial property in the leisure sector is expected to increase by 2.8% in Q2… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Costs: Energy, labour and other costs are going up this month and taxation is also set to rise. Not an attractive combination. UKH has commented saying energy costs ‘are set to be £12 billion higher than prior to the energy crisis.’ it says ‘without meaningful action to rein in some profiteering energy suppliers, the sector will no doubt see thousands of venues go out of business…’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Looking at the broader stage, the British Chambers of Commerce says the ‘85% drop in energy support package comes as firms face significant changes in business environment.’ It says ‘firms are facing a further financial squeeze, with corporation tax, living wage and business rates all changing from April 1st…’ COMPANY NEWS: Stonegate has reported accounts to Companies House for the 52 weeks to 25 September 2022 showing sales had continued to recover since reopening in 2021. The group’s managed division had maintained LfL growth whilst the leased and tenanted business has been in decline… Oakman Group has announced full year numbers to 3 July 2022 saying that it has grown sales & profits but it says ‘concerns persist about inflation and taxation.’ Oakman reports sales up 61% vs the prior year at £54.4m. it says that adjusted EBITDA is up 49.2% to £5.4m… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Oakman has also updated for the first 38wks of the current year saying that sales to week 38 were £50.6m with sales up 9% and LfL sales down 1.9%. Adjusted for the removal of the lower rate of VAT, Oakman reports that LfL sales would have been up 6.9%… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. HOLIDAYS & LEISURE TRAVEL: Flight analytics firm Cirium has reported that some 7.8m seats are due to be flown over the UK Easter school holiday fortnight. It says the number is down some 12% on the equivalent pre-Covid weeks in 2019. Sky reports that ‘Sir Richard Branson’s Virgin Orbit has said it is laying off 85% of its staff and will cease operations for the foreseeable future.’ OTHER LEISURE: Cineworld has updated on its Chapter 11 situation saying that the group has ‘entered into a restructuring support agreement and a backstop commitment agreement with lenders holding and controlling approximately 83% of the Group’s term loans due 2025 and 2026 and revolving credit facility due 2023.’ The proposal comprises a rights issue (to lenders) and a new debt facility to repay some outstanding borrowings… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. FINANCE & MARKETS: The Nationwide on Friday reported that UK house prices registered their biggest monthly fall since 2009 in March. Prices were 3.1% down…. RETAIL WITH NICK BUBB: |
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