PANMURE LIBERUM: The Panmure Liberum Leisure Digest: Space for optimism

LIBERUM: The Liberum Leisure Digest: NLW increase - pricing power is key

LIBERUM: The Liberum Leisure Digest: Festive cheer, optimistic new year

PANMURE: Travel & Leisure : Holiday vibes

LIBERUM: The Liberum Leisure Digest: Encouraging updates, falling markets

Long-term attractiveness underpinned by further shareholder rewards

Whitbread reported consensus-aligned revenue in H1 but better-than-expected profitability. The UK business continued to outperform the local sub-segment and the losses in the German activities narrowed. The FY guidance has been maintained, supported by buoyant trading trends. While higher capex is expected, the majority of the additional expenses will be auto-funded. The raised dividend and an additional of £300m buy-backs also testify to the group’s optimism. We have upgraded our P&L estimates

PANMURE: UK Equity Research : Our Key Picks for 2023 - Q4 Update :

PANMURE: UK Equity Research : Our Key Picks for 2023

PANMURE: Whitbread : Strong start to the year

UK keeping buoyant; German business on the right path

In the past quarter, Whitbread continued its success in the UK hotel market and its UK restaurants bore fruit after effective commercial initiatives. Its German business also benefited from the overall restoring market demand and improving performance. The group reconfirmed its upbeat stance on the FY outlook.

Thriving in a sluggish economy

Whitbread’s share price rose by up to 5% today following the announcement of stronger-than-expected FY figures and a share buy-back programme that is scheduled to complete in the coming HY. The current trading looks supportive, which is hoped to be further supported by expanding the hotel portfolio and the seemingly less-worrying unfavourable macros. We expect an increase in consensus estimates and our target price.

PANMURE: UK Equity Research : Our Key Picks for 2023 – Q2 Update

PANMURE: Whitbread : Strong trading leads to further upgrades

Morning Note – 26 July 2024

VNCE: Snapping the Store: Pre-Fall Continues to Impress; Reiterate Buy, $3 PT

We are reiterating our Buy rating, projections and $3 price target for Vince after visiting stores in Long Island, Connecticut and New Jersey. We believe the company continues to roll out winning collections, with a focus on compelling hues (dark scarlet and blue waltz), new items (cargo pants, shrunken camisoles, silk hooded shirts and cardigan sweaters) and a deeper focus on key categories such as dresses. Further, we are also seeing continued newness and expansion in men's, driven by jackets

123fahrschule SE (123F GR) - Preliminary H1 in line with estimates / chg.

123fahrschule published preliminary H1 figures, showing solid top-line growth as well as an improved adj. EBITDA. Going forward, the company looks set to benefit from continuous efficiency gains.

PANMURE: UK Equity Research : Our Key Picks for 2024

PANMURE: UK Equity Research : Our Key Picks for 2024 – Q2 Update

Hardman & Co Healthcare Index: 2023 – Capital demands dent performance

The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (

Hybridan Small Cap Feast 07/07/23

Joiners: No joiners today. Leavers: Medica Group plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join intends to join the Access Segment of the AQSE Growth Market. Expected Admission 20 July 2023. Metals One Plc, a company focusing on acquiring natural resou

Hybridan Small Cap Feast - 25 July 24

* A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to continue to make

PROGRESSIVE: Zoo Digital: Recovery continues as pipeline accelerates

This morning’s trading statement from ZOO confirms that customer demand has continued to recover following the end to the industry-wide strikes of last year, with FY24 expected to be ‘at least’ in line with current market consensus. We maintain our FY24 estimates, which we increased slightly at the recent March update, with revenue at $39.9m and an adjusted EBITDA loss of $13.4m. New productions are translating into a healthy order pipeline, with market commentators forecasting a return to 2022

Warpaint London+ (W7L, House Stock at 586p) - Strong momentum continues

Brighton Pier Group - Poor weather dampens trading

Adverse weather has continued since the group’s last update in May, leading to ride closures and reduced footfall on the Pier (-29% YoY in the 4 weeks to 21 July). Consequently, despite the successful introduction of entrance fees for non-residents, Pier revenue is expected to be below prior expectations. Although the group has yet to trade the remaining six weeks of the summer (which typically account for a significant proportion of group earnings), and notwithstanding the recent modest improve