Trading, services sector, tariffs, coffee market, Pizza Express & other:

A DAY IN THE LIFE:

So I was contemplating the term ‘greedy boards’ yesterday and I couldn’t quite get clear in my head whether the phrase originated in all-you-can-eat buffets or whether it was with regard to skip hire.

I’m familiar with both scenarios, of course, because a working knowledge of how to get the most for your money is mandatory up here in Yorkshire.

And many’s the time I’ve lined a plate with chips – better still, toast, but they’re not often so daft as to make that readily available – in order to double the size of my plate before hitting the protein counter to load up on bacon, sausage, eggs and what-have-you but I haven’t dangerously overloaded a skip.

I’ve taken the ‘no load beyond this point’ as more of a vague suggestion than an instruction, of course.

I mean who hasn’t, but I haven’t lined a skip with planks, redundant bathroom doors or tottering radiators in order to dangerously stack the skip so high that the lorry that picks it up will be shedding bricks and broken glass at every roundabout on its way home.

Because that just wouldn’t be cricket. And yes, I think some cyclists could do to be a bit more polite on the roads but I draw the line well short of showering them with masonry.

At least for now. 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

PUBS & RESTAURANTS:

Trading:

CGA has updated on consumer spending over last Christmas saying that it sees ‘there was a significant pressure on spending last year.’ CGA reports that 75% of people chose to visit a pub, restaurant or other licensed venue across the festive period but it adds that some 88% of visitors were impacted by the cost-of-living crisis to some degree…

• 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.

UK Services Sector:

S&P has released its UK service sector PMI for March saying that there was some ‘modest expansion of service sector business activity.’ It adds that the rate of growth edged up to a 7 month high. The PMI came in at 52.5 in March, above the critical 50.0 no-change marker and well up on the 51.0 registered in February…

• 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.

Coffee market:

The World Coffee Portal’s Project Café Europe 2025 has revealed the Europe-wide coffee shop market saw its fastest growth in five years last year. It reports that ‘the total European market grew 4.7% to reach 51,042 outlets over the last 12 months – but there is growing industry concern over record green coffee prices and high operational costs…

• 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.

Tariffs:

The British Beer and Pub Association has warned that the US’s 25% tariff on aluminium will have a major impact on the UK beer industry as it exports around £120 million worth of beer to the US. Mr Trump has said that beer would be included under the steel and aluminium figure of 25% rather than the 10% tariff that is to be charged to UK exports. There is also confusion over the rate to be attached to whiskey distilled in the North of Ireland….

• 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.

Working practices:

UKH comments on zero hours contracts saying that ‘according to a recent survey by the Trades Union Congress, over a million people in the UK are working on zero hours contracts.’ It acknowledges the Labour pledge to abolish such contracts and comments on guaranteed hours and notice periods that should be given ahead of a shift….

Other news:

Costs in the US. The FT points out that President Trump’s tariffs will hit all goods, including those such as coffee, which cannot be produced by the US domestically. Consumers, in such a situation, face the choice of either giving up the product or taking the financial hit themselves….

• 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:

PizzaExpress is reported to have agreed a fully consensual refinancing deal with over 97% of its existing bondholders. The MCA reports that the news follows a good opening quarter for the brand, with reported like-for-like sales up 1.3% year-on-year for the first two months of 2025….

Chapel Down Group yesterday reported full year numbers to end-December saying that net sales revenue fell by 5% to £16.4m. The company points out that Q4 sales were some 7% higher in FY24 vs FY23. The group reports adjusted EBITDA down 58% at £2.4m and a loss before tax of £1.4m vs a profit last year of £2.3m. The FY24 loss comes after exceptional costs of £1.2m (FY23 cost £1.2m) and fair value adjustments of negative £0.6m (FY23: positive £2.2m)….

• 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.

The MA reports Wells & Co as saying that this week’s increases in the minimum wage and national insurance will add about £750k to its costs during 2025. The company reports that despite challenges facing the industry, the business saw revenue up by 5.6%, totalling £65.8m. EBITDA was up to £9.9m…

• 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.

Stay Original Co, the pubs with rooms business trading from six historic freehold properties in the South West, has announced that it completed a record year in 2024. It reports sales of £12.4m were up 13.2% on a like-for-like basis with Site EBITDA in excess of £3m, up 39% on a similar basis.

illycaffè has reported revenue up 6% at €630m for the year to end-December with group EBITDA up 19% at €110m….

HOLIDAYS & LEISURE TRAVEL:

London Luton Airport has had its plans for expansion approved by the government. It hopes to almost double annual passenger numbers to 32 million by 2043.

The introduction of advanced CT scanners at Gatwick airport should mean that travellers will no longer need to remove electrical items or liquids from cabin bags at security.

OTHER LEISURE:

The Telegraph reports that Amazon has put in a last-minute bid for TikTok’s US business as Donald Trump seeks to broker a deal to sell the app before a Saturday deadline.

Games company tinyBuild yesterday announced the disposal of Red Cerberus to a North American consultive software and hardware company focusing on testing. It said ‘the total consideration is $1.5m in cash payable on completion.’

Plans have been approved for the first indoor padel club to be opened in Sheffield. Developer Capital & Centric has partnered with Club de Padel to create a five-court venue in the old Cannon Brewery, in Neepsend.

UKactive reports that a record numbers of Britons are now going to the gym. It says that some 11.5 million people aged 16 and over now belong to a gym in the UK, up 1.6 million from 2022.

FINANCE & MARKETS:

Markets fell sharply yesterday on news that the Trump administration was to introduce tariffs against products from virtually every country with which it ran a trade deficit. And some, such as the UK, where trade was broadly in balance…

• 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.

Sterling up vs US$ at $1.3094 but down vs Euro at €1.1818. Oil lower on recession fears at $69.43. UK 10 year gilt yield down by 14 basis points at 4.53%, also on increased recession fears. World markets down heavily yesterday and London set to open around 14 points lower 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.