Langton Capital – 2023-07-04 – Le Pain, Brewhouse, gambling harm, costs, trading, assets & other:
Le Pain, Brewhouse, gambling harm, costs, trading, assets & other:A DAY IN THE LIFE: I must stop buying those Tesco lunchtime meal-deals. Or I should at least change the drink I get because I’m not sure that sporting a Ribena moustache does much for you at my age and maybe not at any age after about six or seven. Because it migrates pretty quickly from cute via downright weird to rather pathetic and it’s not clear that any of those looks are what you could call career-enhancing. Anyway, it feels quiet, our American cousins are on holiday and, though there’s little news, let’s move on to what little of it we have. 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: The consumer: Every little helps. The CMA is expected to release a report on the investigation of whether petrol forecourt operators failed to pass on a 5p cut to fuel duty…. • 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. Greedflation, as The Times reports today, is a perhaps convenient enemy and is ‘good for hiding blame….’ Trading: The Times reports that ‘the number of people eating out at lunchtime, particularly in the City, has not recovered from the pandemic, but dinner has become more popular…’ • 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 news: Inclusivity. Research from Stonegate Group and Heineken UK has found that a majority (60%) of people are more likely to visit a pub or bar that looks and feels inclusive…. Asset values & corporate activity. CBRE comments on the wider leisure market saying that ‘quality assets, in a good location with secure, sustainable income are holding up value and liquidity…’ • 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. Off the booze? The Telegraph reports that Dry June is set to be bigger than Dry January, as sales of non and low alcoholic drinks surged in June…. Footfall: Springboard reports that footfall across retail destinations rose by +1.5% in the week to 1 July compared with the same week a year ago… Energy costs. The boss of the International Energy Agency has said families must prepare for another surge in energy bills this winter, driven by a drop in temperatures and fast recovery in the Chinese economy driving demand for gas. VALUATION: A piece here that went to clients a little while back: Introduction: Valuation is a simple word but it comprises a complicated process. Part is maths (the earnings) but much more (the multiple) is down to ‘animal spirits’. Unlisted companies may rely even more on the latter than the former. In listed stocks, we perhaps lazily leave markets to determine ‘valuation’ but, whilst the market may determine the price of 10,000 or 100,000 shares, the worth of the entire company could be something radically different. • 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 Caterer reports that Belgian cafe chain Le Pain Quotidien has closed all but one of its UK sites and entered administration with the loss of 250 jobs…. • 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. FB Taverns, the pub vehicle backed by high-net-worth individual Alexander Embiricos, the co-founder of the US-based virtual office provider Remotion, has grown its fledgling estate to more than 40 pubs with the acquisition of Cameron’s Brewery’s tenanted pubs division, reports Propel. Brewhouse & Kitchen is undergoing a strategic review to identify the ‘optimum way to create liquidity for investors’…. HOTELS & LEISURE TRAVEL: Henderson Park & Klarent Hospitality have acquired the Caledonian Waldorf Astoria Edinburgh for £85m from Twenty14 Holdings…. CBRE comments on the hotel market saying that ‘while there is strong interest from both buyers and sellers to transact, there is still a pricing gap, and consequently transaction volumes continue to be subdued…’ • 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. Real estate fund manager Tritax has sold the freehold of its Travelodge Hotel & Grosvenor Casino in Leicester to a UK family office for £8.75 million. OTHER LEISURE: Gambling harm. NHS England Boss Amanda Pritchard warns of the danger of ‘touch of a button’ bets, saying ‘everyone, young and old, is bombarded with adverts encouraging them to take part’…. • 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 UK manufacturing PMI was 46.5 in June, falling to a 6-month low from 47.1 in May but still ahead of economist’s expectations of 46.2…. • 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 cross-party Treasury committee has launched an inquiry into the challenges faced by small businesses when seeking finance as interest rates rise…. IPO market in London in the doldrums. The Daily Mail reports that eighteen firms listed their shares in H1 this year compared with 26 in the same period of last year… • 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. CBRE has updated on its view re the economy in its Mid-Year Market Outlook. It says that inflation has been stickier than expected and interest rates have exceeded estimates. It says the UK has thus far avoided a recession. Sterling mixed at $1.2684 and €1.1637. Oil lower at $74.99. UK 10yr gilt yield up 8bps at 4.48%. World markets mixed yesterday and London set to open down around 9pts. 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. |
|