Langton Capital – 2025-12-15 – Trading, business rates, jobs market, Leon, Everyman, Costa & other:
Trading, business rates, jobs market, Leon, Everyman, Costa & other:A DAY IN THE LIFE: Having been away for a few days last week (time permitting, pub reviews to follow) we got home at the weekend. First impression, as always, the house hasn’t burned down. Second impression, upon entry, we don’t appear to have been burgled and nor has heavy rain brought the roof down. Third impression, having wandered around a bit and thereby noticed a massive, fruit-coloured pool in the utility room, the main fuse for the electricity in one half of the house has been tripped and the freezer’s been off for the best part of a week. Hence, relief, relief, disaster as the freezer include most of our milk, a year’s worth of fruit collected from the garden – hence the overpowering, slightly alcoholic, stench – numerous bits of meat that will have to go to the dog and, wait for it, a turkey fit to feed 16-18 people. Which was, for good or ill, still partially unthawed and which, as a result, left us with a number of choices. Viz, should we bin a forty quid bird, should we eat turkey solid for what will be, including the holidays themselves, about three weeks solid or should we batch-cook about a billion portions of turkey stew and dine thereon throughout 2026. Well, batch-cooking here we come. Well done the mighty Hull City and let’s move on to the news, news and turkey stews: 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 sent separately PUBS & RESTAURANTS: Trading: Commenting on the two weeks to 22 November and 29 November respectively, CGA’s latest Daily Drinks Tracker shows average sales in managed venues in the first of the two weeks were up by 3.1% and up by a fractional 0.1% in the second… • 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. Jobs market: Consumers need to be both able to spend and willing to do so and the state of the jobs market speaks to both the above ability and confidence. The Recruitment and Employment Confederation has reported that new job adverts fell in November for the second month running. It goes on to say that the 14.4% drop follows an 11.2% decline the previous month… • 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. Business rates & corporate failures: The argument in favour of preferential treatment for hospitality businesses continues with the BBPA calling for targeted support and business leaders, including Nick Mackenzie at Greene King, arguing that higher rates bills will lead to more corporate failures… • 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. More on business rates: Writing in the Daily Mail, UKH chair Kate Nicholls writes ‘Christmas should be a time of cheer, but last month’s Budget has instead left hospitality businesses at their wits’ end worrying about the looming business rates car crash.’ She says ‘in just a few months, local pubs, neighbourhood restaurants and coastal hotels, to name a few, will be hit with increases to their business rates running into the thousands….’ • 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: US restaurants. NRN in the US quotes brokers as saying that labour remains a crucial concern for restaurant operators going into the New Year… The Telegraph reports that beef sales have risen as consumers have turned against plant-based proteins. COMPANY NEWS: Leon co-founder and owner John Vincent has suggested that the chain could grow to 100 stores after it rebases on a profitable core. He tells the Guardian that the business, for four years owned by ASDA, needs to be gripped and adds that ‘in a crisis you need a pilot in full control….’ • 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. Jamie Oliver. Sky News reports that Jamie Oliver’s holding company ‘has axed a fifth of its workforce, even as he plots a high street restaurant comeback six years after his Jamie’s Italian chain collapsed into administration.’ It says the business is making 25 of its 126 staff redundant. Costa Coffee. The FT reports that Coca-Cola’s proposed sale of Costa Coffee is at risk of collapsing, with the company holding last-ditch talks this weekend with private equity firm TDR Capital in an effort to salvage the deal. OB Group Holdings Ltd, which trades as The Ossett Brewery, has reported results to 31 March 2025 to Companies’ House saying that revenue rose by 3.7% to £20.7m. The company says that its operating profit margin rose to 7.2% from 4.9% in the prior year and absolute operating profit was £1.49m (FY24: £0.97m). Interest charges have fallen from £203k to £185k and PBT is up by 70% at £1.31m… • 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. Salt Group Holdings Ltd, which both brews and operates public houses, has reported results for the year to 31 March 2025 to Companies’ House saying that sales slipped by a marginal 0.6% to £13.8m but, as the GP% increased and expenses were tightly controlled, the company swung to a profit before tax of £107k in FY25 compared to a loss before tax of £115k in the prior 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. Coca Cola has announced that Henrique Braun, who is currently the group’s Chief Operating Officer, will assume the role of CEO on 31 March 2026 Greene King has announced that it has seen one million customers sign up to its loyalty and rewards programme since the launch of its new app in September. HOLIDAYS & LEISURE TRAVEL: Business rates. The Times reports that luxury hotels, where business rates look set to rise sharply from next April, are likely to pass the cost increase on to their customers… • 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. US immigration; proposed social media history access. The travel industry has hit out at the proposal that US border officials should access the social media history of would-be visitors to the country. There is some confusion as to how the proposals would (or could) be put into practise. Gatwick Airport is reported to be raising the price of its drop-off zones by £3, taking the minimum charge to £10. The charges are due to rise on 6 Jan. The RAC says ‘the words ‘Happy New Year’ are unlikely to be uttered by drivers dropping off friends and family at Gatwick in January.’ OTHER LEISURE: Everyman Media Group has announced that Will Worsdell, Finance Director, has informed the Board of his decision to step down as a director of the Company to pursue another opportunity. It says it ‘will shortly commence an external search process for a successor to Will, who will remain in post until the end of March 2026. The Board will provide an update on the transition of roles as soon as practicable.’ The Telegraph reports that cinemas are demanding that ‘Labour intervene against Netflix’s Hollywood takeover.’ Quite what mechanism would be at hand to do so is unclear. The Telegraph reports that ‘industry bosses have written to media minister Ian Murray to raise concerns about the streaming giant’s $83bn acquisition of the Hollywood studio behind major franchises such as Harry Potter, arguing that it could result in fewer films being released in cinemas.’ JD Sports Gyms has reported full year numbers to 1 Feb 2025 to Companies’ House saying that revenues rose by 21.1% to £122.1m. The company reports a sharp increase in the GP% and operating profits rose to £44.3m from £7.4m in the prior year. The group is materially profitable after interest charges and reported PBT rose to £38.0m from a loss of £29k in the prior 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. FINANCE & MARKETS: A big week for economic stats with labour & unemployment numbers tomorrow, CPI inflation numbers on Wednesday and the Bank of England’s latest interest rate decision due at lunchtime on Thursday… • The jobs market is likely to have weakened, the CPI may be unchanged or rise slightly and the Bank of England is expected to cut rates by 25bps on Thursday (to 3.75%). Sterling weaker at $1.3362 and €1.1391. Oil lower at $61.44. UK 10 year gilt yield up 2 basis points at 4.53%. Global markets weaker on Friday and into Monday’s Far East trading but London set to open around 36 points to the good 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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