Langton Capital – 2023-06-30 – Profit warnings, borrowings, Oakman, Staycity, DP Poland, Merlin & other:
Profit warnings, borrowings, Oakman, Staycity, DP Poland, Merlin & other:A DAY IN THE LIFE: Why do dogs always insist on following you from the front? It means they have to keep looking around to see whether you’re going to turn left or right and then stopping stock still – either to let you catch up or in the hope that they will trip you up – when their inner antenna tells them the pack it is too strung out. Maybe it’s a dominance thing. They have to have a crack at leading even if they haven’t got a clue where they are going or, maybe, we’ve just had three incredibly dumb dogs on the trot who were all incapable of learning anything. Our betting’s on the latter. Anyway, it’s the end of the week, the month, the quarter and the half year. But it hopefully won’t be the end of the good weather so have a great weekend and let’s move on to 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 PROFIT WARNINGS – MAKING A SPLASH. Various Eateries warned earlier in the week in a fulsome comment on the travails of the Hospitality industry. It’s shares fell by 20% over two trading sessions. Yesterday, small, offshore games developer tinyBuild’s shares fell by 80% as it showed how a profit warning should really be done… • 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. PUBS & RESTAURANTS: Financing consumer spending: See comments on consumer credit under Finance & Markets below. The consumer: Per The BBC, a range of mortgage providers have begun a fresh round of rate rises, with the interest rate on a typical five-year fixed deal now close to 6%…. Labour issues: A survey commissioned by Barcats finds that 72% of hospitality business operators think that hiring more over-50s could be the solution to the sector’s labour shortage problems…. Other news: Per KAM, an estimated 6.2 million UK adults will be actively moderating their alcohol in-take this summer, with more than 1 in 3 pub and restaurant visits now alcohol-free…. Scotland: UKHospitality Scotland’s Leon Thompson responds to the proposed new deal for business in Scotland saying ‘it’s been refreshing to see such renewed engagement with the business community by the Scottish Government in recent months and many of the recommendations published today underscore this positive approach….’ • 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. DP POLAND – FULL YEAR NUMBERS: DP Poland has reported full year numbers to end-December 2022 and our comments thereon are set out below. Headline comments: DPP reports that revenue increased by 19.5% to £35.7m (2021: £29.9m). It says it saw ‘strong LFL revenue growth of 21.0% in 2022 compared to 2021 driven by increased average tickfset price and order count.’ Swing to dine-in restaurant sales. The company adds that it saw dine-in, carry-out and delivery LFL System Sales of 55.3%, 84.7% and 5.2% respectively compared to prior year. System Sales were up 18.2% to £36.8m (2021: £31.2m)… • 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. COMPANY NEWS: The MCA reports that Oakman Group has halted the growth of its Seafood Pubs business in order to focus instead on its core brand of Oakman Inns…. Gruppo Sanpellegrino reports revenue up 10.8% YoY to €973m in FY22, with a ‘strong’ recovery in its out-of-home channel (+25.8%) as… • 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. Boost Juice Bars and The Shake Lab operator, TD4 Brands, reports sales up 82% YoY to £13.9m in for the year ended 28 September 2022… Urban Pubs & Bars is to open a new unit, The Victory,at Waterloo station in mid-September. The opening will take its estate to 41 pubs, bars and restaurants in London…. S4labour has appointed Ben Hood as a non-executive director. Mr Hood, formerly a co-founder and CEO of Fourth, said ‘Alastair and the wider S4labour team really understand the sector and care a great deal about the operators. The level of innovation and ambition is really exciting, and I love how they are going about improving productivity across the sector.’ HOTELS & LEISURE TRAVEL: Staycity reports a return to pre-pandemic business travel with corporate travellers booking longer stays…. • 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. OTHER LEISURE: Merlin Entertainments ‘bounced back into the black last year and returned to its pre-pandemic growth levels as tourists returned to its mixture of treehouses, castles and log cabins’, reports The Times… Niantic, which makes the Pokemon Go video game, has said it will cut a quarter of its workforce due to a slowdown of demand following a surge during the pandemic…. • Niantic says ‘we have allowed our expenses to grow faster than revenue’ and adds ‘the top priority is to keep Pokemon Go healthy and growing as a forever game.’ FINANCE & MARKETS: The Bank of England’s chief economist, Huw Pill, has said that it was virtually impossible to forecast the impact of economic shocks on inflation… • 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. The Bank of England yesterday commented on mortgage lending saying ‘individuals repaid, on net, £0.1 billion of mortgage debt in May.’ Some 49,000 mortgages were approved…. The Bank reports ‘net borrowing of consumer credit by individuals decreased from £1.5 billion in April to £1.1 billion in May…’ • 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. In Sintra, central bankers were singing from the same hymn sheet saying that the battle against inflation was not yet won… The US Commerce Department has said that growth in the country was stronger than previously reported at the start of the year. It is now forecasting 2% growth in Q1, up from a 1.1% forecast earlier. Former Chancellor Norman Lamont has said that the Bank of England’s credibility is ‘on the line’ as it is perceived to have made policy errors in the last two years or so… The SMMT has said that growth in the UK car industry could be curtailed unless a deal is reached with the European Union quickly. It says that 56% of cars exported went to Europe. Merger & acquisition levels are reported to have fallen to a 7yr low. Sterling up a bit at $1.2633 and €1.1611. Oil lower at $74.49. UK 10yr gilt yield up 3bps at 4.36%. World markets turning better yesterday & London set to open around 22pts higher as at 6.30am. RETAIL WITH NICK BUBB: • 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. |
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