Hospitality grants, energy costs, trading, FDEV, JET2, EMAN & other:

A DAY IN THE LIFE:

Looking out at the garden – and with the need to get the lawnmower out at some point – I have to say that I preferred the grass when it was at death’s door.

Because it may have looked brown and patchy.

It may have had thistles, cherry and plum saplings and some strange, yellow, trifid-like plants growing through it and peppering it from left to right but at least it didn’t need mowing.

Indeed, it didn’t need much of anything at all.

It may have expired at some point but that was a risk I was prepared to take if it won me back a couple of hours a fortnight during which time I could do something useful or, if not useful, then at least a bit more pleasant.

Like popping down the pub for example but, anyway, given that we had a flying start with Monday off, the weekend is hoving into view.

However, it’s not here yet so, for the moment, let’s move on to the news:

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PUBS & RESTAURANTS:

Hospitality grant scheme:

Whilst not huge, independent pubs, restaurants and cafés are to be allowed access to a new £10m Government fund intended to help operators to start and grow businesses that provide jobs. Around £3m will be set aside for rural venues through Pub is The Hub…

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Energy costs:

Hot weather in the summer does not reduce energy usage. In fact quite the opposite as the Zero Carbon Company has suggested that the various heatwaves over the summer have cost the UK hospitality sector around £95m in extra energy usage…

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Recent trading:

The Oxford Partnership and Vianet have updated on recent trading saying that fuller pubs and longer visits failed to lift pint sales over the Summer Bank Holiday. They say that ‘UK pubs and bars were busier and consumers stayed longer over the Summer Bank Holiday weekend, but stronger engagement failed to translate into increased draught beer and cider sales.’ The add that ‘across the four-day Bank Holiday period, from Friday 28th to Monday 31st August, pubs sold an estimated 25.4 million pints, compared with 26.4 million during the equivalent weekend in 2025, a 3.9% year-on-year decline….’

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Disposable incomes / interest rates:

With gilt yields signalling rate rises in the medium term, analysts are reported to be saying that investors have priced in three interest rate rises over the next two years…

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Non-alcoholic drinks:

Greene King has noted that ‘alcohol-free cocktails are fuelling growth in low and no sales.’ It says that its research also shows ‘that customers choosing low and no options have increased across all drinks categories compared to research in 2024….’

Other news:

VAT cuts. The BBC reports that MPs have heard that a VAT cut for hospitality businesses in Northern Ireland would not mean lower prices for consumers. It notes that ‘hospitality leaders say the cut is needed to help with squeezed profit margins and is a matter of survival,’ implying that businesses there would use any cut to enhance margins rather than cut prices.

Income distribution. Accountant PwC has reported that some 46% of UK consumers live in areas where economic growth does not seem to lead to better living standards. The areas, comprising the North of England and Wales, had households with a spending power between 6% and 10% below the national average.

English wine: The Daily Mail reports that English vineyards enjoyed a record-breaking summer, with demand for sparkling wine and rosé among younger drinkers helping sales surpass the bumper Christmas period. It says that the ‘abnormally warm weather this summer has benefited English grape varieties, with wineries hailing a record harvest, and sales have followed suit.’ Data from Ocado Retail show that overall sales of English sparkling wine and rosé are up 19% year-on-year.

COMPANY NEWS:

JD Wetherspoon has announced that it is to open its new pub at the University of St Andrews on Friday 4 September 2026 at 8am. It notes that ‘the Red Gown pub will be located in the Students’ Association building, situated in the heart of St Andrews, in St Mary’s Place, with its own dedicated pub entrance….’

Delivery giant and ride-share company Uber is reported set to lay off about 10% of its corporate staff in the US in a part of a wider restructuring plan. Some 3,300 jobs are likely to be lost.

JET2 – AGM TRADING UPDATE:

Jet2 reports that, since ‘announcing our Preliminary Results on 8 July 2026, we have seen sustained demand for our award-winning Jet2 leisure travel products.’ It says that ‘summer 2026 seat capacity is 7.6% higher than Summer 2025 at 19.9m seats, with booked-to-date passengers up 8.8% and growth across both package holiday and flight-only products.’

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HOLIDAYS & LEISURE TRAVEL:

Hot weather & coastal hotels. Perhaps unsurprisingly, CoStar finds that REVPAR rose by around 4% this summer in UK leisure destinations…

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TTG reports on holiday bookings saying that ‘agents have characterised the summer booking landscape as resilient, if somewhat uneven, with high-value clients continuing to splash the cash while more budget-conscious, midmarket business has been thinner on the ground, forcing them to work harder to convert.’

Heathrow reports that its expansion is set to unlock 108,000 jobs nationwide.’ Some of thess will be fixed term rather than permanent with Heathrow saying the jobs are ‘spanning the likes of construction, engineering and all-important apprenticeship opportunities for young people….’

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Uber has announced the introduction of driverless cars in London. it says that ‘British-built technology debuts on the Uber platform in London, marking the UK’s first autonomous ride-hailing service’ and it goes on to say that ‘starting today, Londoners requesting an UberX, Uber Electric, or Uber Comfort may be matched with a Wayve ride at no extra cost, with upfront fares shown in-app….’

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EVERYMAN MEDIA – H1 RESULTS:

EMAN reports revenues up 23.5% at £69.8m. Adjusted EBITDA is up by 57.3% at £6.6m (pre-IFRS16) and the group reports an adjusted PBT of £0.1m against a loss of £2.7m last year. The group reports ‘growth across all key metrics and increased market share.’ Admissions were of 2.6m, up 20.5% (H1 2025: 2.2m). The group reports ‘net bank debt of £17.4m (H1 2025: £24.2m).’ It says that this ‘reflects strong operational cash flows and a focus on managing net debt and reducing leverage whilst we prepare to open new venues in 2027.’

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OTHER LEISURE:

Frontier Developments has announced ‘that it has entered into an agreement with Disney to develop and publish a new game which will draw on Disney’s iconic portfolio of IP.’ It says that the ‘game will be fully funded by Frontier and will build upon the Company’s extensive experience and proven capabilities as a leader in the Creative Management Simulation (CMS) genre; which includes the genre-leading Planet Coaster, Planet Zoo, and Jurassic World Evolution franchises, as well as an unannounced Planet game currently in development….’

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Over half of the UK’s Premier League football clubs have broken transfer records during this summer’s transfer window.

The BBC notes that a group of peers is calling for the British government to be able to deactivate powerful AI systems and switch off the country’s data centres in the event of the tech posing a threat to national security.

Independent gym chain Fitness Worx has received a £320,000 funding loan from the Midlands Engine Investment Fund II in order to support expansion.

MapQuest has become the most downloaded app on Apple’s App Store reports TechCrunch. MapQuest has refused to rename Lake Ontario in line with the demands made by US President Trump.

Entain, which owns Ladbrokes, is to be demoted from the FTSE100. Its shares have been impacted by higher gambling taxes and are down by around 40% over the last year.

FINANCE & MARKETS:

Sterling mixed at €1.1634 and $1.3494. Oil down a little at $94.96. UK 10 year gilt yield down by 5 basis points at 5.22%. World markets mostly lower yesterday & London set to open down by around 5 points as at 6.30am.

RETAIL WITH NICK BUBB:

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