Incomes, contract catering, DGE, FDEV, PPHE, ROO, Staycity & other:

A DAY IN THE LIFE:

Don’t you just love those urban roundabouts where both the inside and outside lanes turn right?

Because if you’re on the inside and you’ve read the road-signs you may be sure you’re correct in swinging to the right.

But you have to acknowledge that the person on your outside may also be 100% convinced that they’re correct and, unless one of you is obliged to ‘show some maturity and stop behaving like a child’, it will ultimately come down to who already has scrapes down the side of their car as to who ends up in the front when the road subsequently narrows to one lane.

Above purely a hypothetical observation, of course.

Anyway, it was 15 degrees in the shade yesterday, scorching. Maybe not scorching but it was pleasantly warm and, with the birds in full voice and half the bulbs already flowering, it’s becoming more tempting to get out your shorts, find where the dog has put your sunglasses and rule winter officially over.

Apart from the snow we’re now bound to get in April, that is. On to the news:

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PUBS & RESTAURANTS:

Disposable incomes:

OFGEM has announced that the average energy bill in Great Britain will fall by £177 a year from 1 April. This takes the average bill to £1,641 a year, down 7% on the last cap…

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Youth employment:

Bank of England chief economist Huw Pill has said that his own daughter has struggled to find a job as a result of cuts in graduate and entry-level positions…

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Contract catering:

NIQ reports that ‘Britain’s leading contract caterers ended 2025 with near-double digit growth in sales.’ Its latest Contract Catering Tracker suggests that ‘sales in the fourth quarter of the year were 9.0% ahead of the same period in 2024, reflecting high demand in the run-up to Christmas….’

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Other news:

The MCA questions whether competitive socialising might not be reaching saturation point in the UK. It says the market is currently expanding at a rapid rate, but ‘there are increasing signs a period of market correction and consolidation could be close….’

COMPANY NEWS:

Diageo shares fell by 238p or 12.7% yesterday to £16.36 as the company released its H1 numbers and cut its dividend…

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Molson Coors is set to close its Sharp’s Brewery in Rock by the end of this year. It says that the sit is ‘no longer financially sustainable’. The company has said that 50 jobs would be lost at the Rock brewery and 200 roles would be cut across the whole of the company….

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PPHE has reported full year numbers to 31 December saying that full year numbers, with revenue in Sterling up 5.3% to £466.4m, were in line with expectations. The company reports EBITDA of £138.2m, up 1.3%, and it has announced adjusted earnings per share unchanged at 125p. The company is to pay a dividend of 39p (FY24: 38p) for the full year…

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DoorDash Inc, which finalised its acquisition of UK delivery company Deliveroo in October last year, has announced that it is ‘exiting four countries across its Deliveroo and Wolt brands…’

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Drinks Business reports that the Scotch whisky division of Pernod Ricard has turned in reported lower net sales in the six months to December 2025. It notes that growth in India and Turkey has tempered softer trading in key regions, while margins are feeling the strain of tariffs and foreign exchange fluctuations.

Property agent Drake & Co reports that it has secured another ‘off-market gem’ for Valiant Pub Company. It says it is ‘delighted to announce the off-market acquisition of The Plough Bar & Restaurant in St Asaph’ adding that the ‘landmark venue has been the “beating heart” of the area for nearly three decades.’

Dine Brands Global, which owns Applebee’s in the US, has reported Q4 numbers saying that it completed its debt refinancing. Applebee’s LFL sales were slightly down in Q4 and pancake sales at IHOP were up. The company adds ‘our 2026 guidance reflects continued targeted investments in growth initiatives that are supported by improving trends across both our franchise business and our company-owned portfolio…’

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HOLIDAYS & LEISURE TRAVEL:

Staycity Group reports that it ‘continues its expansion in German-speaking markets by taking its Staycity Aparthotels brand to Munich for the first time.’ The company has signed a long-term lease for approximately 11,000m² in the Weisses Quartier. The project will accommodate 255 fully-equipped rooms. The transaction is among the largest leases in Munich in recent months….

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Hydro Hotels Eastbourne has reported full year numbers to end-October 2025 syaing that turnover rose by 5% to £5.1m with profit before tax of £394k (FY24: £470k)…

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Whitbread PLC, which owns Premier Inn, has submitted a full planning application to North Norfolk District Council for a new 81‑bedroom Premier Inn hotel on part of the former Fruehauf factory site off Cromer Road, North Walsham.

OTHER LEISURE:

Frontier Developments has announced that it will commence an on-market share buyback programme to purchase up to 1.43m of its own shares for cancellation…

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Eden Camp, near Malton in North Yorkshire, has been purchased by York-based visitor experience specialist, Continuum Attractions….

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Aston Martin has reported that it is set to cut around 20% of its workforce.

FINANCE & MARKETS:

Zoopla reports that UK housing market activity has have risen sharply in February. It says that the number of newly listed homes for sale this month has been higher than in any other February for a decade.

Zoopla reports that over a third of London homes are now cheaper to buy than to rent.

The rate of inflation in the Eurozone has fallen to a 16-month low of 1.7% for the year to January, down from 2.0% in the year to December.

Sterling up at $1.3560 and €1.1474. Oil higher at $70.91. UK 10 year gilt yield up 1 basis point at 4.32%. World markets mostly better yesterday and London set to open around 5 points up as at 6.30am.

RETAIL WITH NICK BUBB:

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