Jet2, Gym Group, Harry Ramsden’s, disposable incomes, holidays & other:

A DAY IN THE LIFE:

Having seen Mr Trump attempt to interfere in the World Cup decision making with his MAGA hat on made me think about the phrase that he has so effectively popularised.

And focusing on it, the most important word, surely, or at least the most telling is the last one, ‘again’.

Because Mr Trump, like him or loathe him, knows what buttons to press and, given that human nature hasn’t changed in millennia, in targeting nostalgia he’s tapped into something that’s propelled him to the White House twice.

Indeed, when I looked up the phrase ‘the good old days’, it would appear to date back in writing to the 1850s, with a hankering for pre-industrial life and, in sentiment, it’s pretty much ageless.

Even in its written form, it may have its roots in the early days of text because The Book of Ecclesiastes, which is about 3,000 years old and which also carries the immortal phrase ‘there’s nothing new under the sun’ (1:09), tells us in 7:10:

• ‘Do not say, “Why were the old days better than these?” For it is not wise to ask such questions.’

You won’t get bible verses from Langton very often but, in this case, it seemed appropriate.

Anyway, with England (along with a remarkable five other European teams) still having a crack at the World Cup and with many of us hypocritically harking back to 1966, it’s time to move on to the news>

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PUBS & RESTAURANTS:

Disposable incomes:

The Bank of England has warned that around a million more mortgage holders than it had previously expected face higher bills as a result of the Iran war. The Bank says that around five million homeowners will face higher mortgage payments, up from its earlier forecast of four million….

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The price of a pint:

The MA reports that ‘average pint prices across the UK have shot up within a year’. Its latest MA Beer Report 2026 suggests ‘a big variation in pricing from London – which remains the most expensive area for most brands – to other places from Wales to Scotland to the south-west, where customers may be able to find a cheaper beer…’

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Other news:

Jobs watch: John Lewis is set to cut around 200 jobs as it moves to close its in-store money exchange services and gift wrapping areas.

PTE CO ACCOUNTS – HARRY RAMSDEN’S GROUP LTD:

Harry Ramsden’s Group Limited has reported results for the year to 23 September 2025 to Companies’ House saying that revenue dropped by 15% to £19.4m. There are fewer shops in operation on a LFL basis. The group reports that its GP% rose to 70.1% from 69.2% in the prior year but GP in absolute terms fell as a result of reduced turnover. Admin expenses were trimmed by 8.4% but the operating loss virtually doubled to £1.7m from £0.9m in FY24. Interest charges were reduced by 12% to £1.2m but the loss before tax widened by 29% to £2.883m…

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COMPANY NEWS:

Young & Co’s shares rose by 27p or 3.2% yesterday as the market digested trading comments made at the group’s AGM. YNGA was able to confirm that the strong trading referred to at the time of its full year numbers had continued throughout its financial Q1.

JET2 – FULL YEAR NUMBERS:

Jet2 reports revenue up by 4% at £7.5bn with PBT down 7% but in line with expectations at £551.0m. The group reports EPS down by 1% at 211.2p and the total dividend for the year is up by 2% at 12.4p. The company says this was a year of ‘continued delivery against our growth strategy’ and ‘strong passenger demand and revenue growth alongside strategic investment in future expansion.’ It says the number of passengers flown rose by 5% to 20.83m (2025: 19.77m); flight-only passengers grew 15% to 7.64m (2025: 6.62m); and package holiday customers up 1% to 6.62m (2025: 6.58m). The company expanded into Gatwick, where it says that ‘performance to date is ahead of initial expectations with further expansion planned for Summer 2027.’ The company has a ‘robust liquidity position’. It says that it has total cash, including money market deposits of £3,292.5m (2025: £3,155.8m) and net cash of
£2,012.9m (2025: £2,017.9m).

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HOLIDAYS & LEISURE TRAVEL:

Travel Supermarket reports that package holiday prices to the Middle East are sharply down on the same period last year. This is perhaps not a surprise. Travel Supermarket goes on to say that prices for an average all-inclusive seven-night family stay in the UAE are down by 25% this August. A similar holiday to Egypt is down 8%. Package holiday prices to Spain, Portugal and Greece are up between 3% and 5%.

City AM reports that the EU ‘has refused to suspend its divisive new border checks despite admitting that it has found 20 ‘difficult spots’ causing queuing chaos.’ Officials have conceded that the system is ‘not perfect….’

Maguires Country Parks is reported to have added North Yorkshire sites Winksley Banks Country Park, Foxhall Country Park and Hutton Bonville Country Park to its portfolio.

OTHER LEISURE:

Gym Group has today updated on trading saying that ‘’positive trading momentum has continued through the first half of 2026, with like-for-like revenue growing 3% year on year as expected.’ The company reports that revenue for the six months ended 30 June 2026 increased by 10% to £133.1m (H1 25: £121.0m)….

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The Gambling Commission has confirmed that it will introduce Financial Risk Assessments, aimed at identifying customers with financial difficulties, in stages…

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FINANCE & MARKETS:

The Bank of England has suggested that the rise of AI could be a threat to the UK financial system. It cites a potential stock market bubble as well as raised risks regarding cybersecurity vulnerabilities.

City AM points out that the OBR has revised up some of its long term debt projections saying that its 2075 forecast for debt, whilst a long way in the future, has gone up from 270% cent of GDP to 300%….

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Lloyds Bank, in what used to be the Halifax House Price survey, says that UK house prices rose by 0.2% in June on the back of slightly lower mortgage rates….

Sterling down at $1.3351 and €1.1697. Oil up around $4 on Iranian attacks on vessels in the Gulf at $76.72. UK 10 year gilt yield up 10 basis points at 4.91%. World markets mixed to lower yesterday & London set to open down around 17 points as at 6.30am.

RETAIL WITH NICK BUBB:

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