Langton Capital – 2023-01-11 – Nichols, Nightcap, Rekom, Hostelworld, Byron, TEG, hotels etc.:
Nichols, Nightcap, Rekom, Hostelworld, Byron, TEG, hotels etc.:A DAY IN THE LIFE: Thanks for the feedback on the pylons. Yes, their existence pre-dates mine and was likely taken into account in the price we paid for our house but, if I’ve remembered one thing from Elementary Torts, it’s that a nuisance you make an effort to travel to is still a nuisance – unless there’s some sort of contractual or legislative reason why you have to put up with it. Which in this case, sadly, given the wayleave, there is. Anyway, enough of that. 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 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 PUBS & RESTAURANTS: WFH: City AM has ended its Friday print edition as it blamed a shift to home working among bankers in the Square Mile… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Consumer squeeze: The consumer is set to be squeezed further on housing costs as nearly 800,000 households will see their monthly mortgage payments almost triple this year… Elsewhere, the AA reports that average petrol prices have fallen below 150p a litre for the first time since the start of the Russian invasion of Ukraine. Diesel currently costs 172.21p a litre compared with 153.05p last February. Music in pubs: CGA and Gig Realm have updated on the impact of live music in pubs with a new report suggesting that it can ‘help pubs and bars generate extra sales’ and shows that ‘78% of consumers are more likely to visit a pub, bar or similar venue if it offers live music. Nearly as many (73%) say they are likely to stay in a venue longer if there is live music, and 76% are likely to buy more drinks…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Discounting: It’s getting hard to tell the January discounts from those attached to the 1 Jan birthday that I tend to put on forms when asked my date of birth. MAB brands are active… • 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: Results, trading updates & share prices. Early days in the reporting season but interesting to note that, whilst Tortilla shares have risen maybe 17% in the two days since it updated on trading on Monday, shares in Frontier Development (games company, disappointing Christmas) are down by almost 50% and shares in Hostmore (CEO departure, poor LfL sales in H2 last year) are down by around 14%… Shares in Hornby yesterday fell by around 15% on a trading update allowing commentators to say that the model train company was facing a red signal or had come off the rails or some such. Sales in the key Christmas trading period between October and December were nonetheless ahead of the previous 12 months. Toggle reports that demand for hospitality gift cards increased by 20% in 2022, with the average order value up £3 to £60. Key dates such as Mother’s Day, Black Friday and Christmas, proved most popular for hospitality gifting. COMPANY NEWS: Soft drinks company Nichols plc has updated on trading for the year to end-December saying that ‘total Group revenue during the year increased by +14%1 to £164.9m, with second half performance up +10% year-on-year.’ It says ‘the Vimto brand continued to perform well, with its brand value increasing by +3.4% in the UK, according to Nielsen2 as at 3 December 2022. This is broadly in line with the performance of the Group’s UK packaged route to market…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Nightcap has updated on trading for the 13 and 26 weeks ended 1 January 2023 saying that it saw ‘record trading weeks across the Group, despite the significant train strikes held across the UK during the key Christmas trading weeks…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Rekom has reported that train strikes and colder weather in the run up to Christmas had a negative impact on trading. The MA reports CEO Peter Marks as saying ‘cities across the UK were a lot quieter than usual during the 2022 Christmas and New Year period – unfortunately a mixture of both train strikes and cold weather meant more people were staying at home than they normally would, which impacted trade for our business…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. City Pub Group has announced the appointment of Richard Myers as Chief Marketing Officer from 1 February 2023. It says this is ‘a key appointment for its next phase of growth. Duck & Waffle is to open its first unit outside London on 1 February in Edinburgh. Vagabond Wines Ltd has reported its full year numbers for the period ended 27 March 2022 to Companies House. Punch Pubs & Co reports revenue up 94% YoY for the period to August 2022, with EBITDA up 192% to £77.7m. Loss after tax was £6.7m, down from a loss of £40.9m the year prior… Sky News reports that nearly half of Byron’s restaurants are to close after the chain entered administration for the third time in 5 years. Ten of its 21 remaining sites will shut as part of a pre-pack administration by its owner Calveton… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Majestic Wine reports Christmas sales up 0.2% YoY and 21.1% compared against pre-pandemic levels… Coffee#1 will open three new stores to further expand its presence in the Midlands and the South East. The stores will be located in Leek, Epsom and Macclesfield. The Leek store, which opens later this week, is the chain’s 108th site. Shake Shack in the US has updated on trading saying that the chain closed out 2022 with a total of 436 locations globally, including 285 in the United States…. Some 95 jobs are at risk at Wilko’s customer service operations. The recently refurbished Leeds Marriott Hotel will host a £1.5m ‘upmarket’ Gino D’Acampo Italian restaurant and bar. The restaurant is Gino’s sixth opening in less than two years. It follows openings in Manchester, Newcastle, Liverpool, London, and Alderley Edge. Amazon has revealed plans to shut three UK warehouses, impacting 1,200 jobs. The online giant said workers at the Hemel Hempstead, Doncaster and Gourock sites will be offered roles at other Amazon locations. HOLIDAYS & LEISURE TRAVEL: Hostelworld has updated on trading for the year to 31 December 2022 saying it has capitalised ‘on the strong recovery in demand…’ Knight Frank has reported that UK hotel transactions totalled some £3bn in 2022, down 30 per cent on the five-year average. It says H1 was stronger than H2 with 68% of the total value of deals coming in the first half of the year. Increased uncertainty and reduced visibility put off some would-be buyers from transacting in H2… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The Health Security Agency will begin testing arrivals at Heathrow from China this week. OTHER LEISURE: Ten Entertainment has updated on full year trading saying that sales in the year to 1 Jan 2023 were up 87.6% with LfL growth of 5.5%. it reports that LfL sales are up 40% on pre-pandemic levels and says that ‘profit for the year FY22 [is] expected to be at upper end of market expectations…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Meta businesses Facebook and Instagram are reported set to tighten restrictions around the data available to target ads at teenage users… Donald Trump’s Scottish golf courses are reported to have been given more time to file accounts after missing their statutory deadlines. Trump International Golf Club Limited, SLC Turnberry Limited, and Golf Recreation Scotland Limited are all overdue… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. FINANCE & MARKETS: The World Bank has said the global economy is “perilously close to falling into recession.” It is looking for global growth of just 1.7% in calendar 2023 having forecast 3.0% as recently as last June. The 1.7% growth figure would be the lowest since 1991… London market IPOs fell by 50% last year with the amount of cash raised by new companies falling by 90% to around £1.6bn. Analysts at accountants EY says that economic uncertainty, high inflation and rising rates discouraged some companies from going public… Sterling down at $1.2167 and €1.132. Oil higher at $79.40. UK 10yr gilt yield up 3bps at 3.56%. World markets mixed but going better yesterday and London set to open up around 32pts as at 6.30am. 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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