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I see RBG posted their results today, more doom and gloom, though as you remarked regarding the Nightcap results, only as expected. The summer, post results, has been good. What happens now going forward will determine success or failure. As a shareholder, now, don't want to see anymore fundraising by issuing shares at such a low sp. It is a dilution trap which is hard to escape from. For me it is up to the management of Nightcap to prove they are worth backing. By pulling everyone together and working hard to not only achieve a good set of results but to ensure the customers leave happy enough to come back and spend their hard earned money again. Also leaving good reviews on the likes of Trip Advisor, encouraging others to join in the fun. In other words get noticed for the right reasons. Perform well enough to be tipped as a buy on the back of a year of impressive post covid lockdown numbers. Get the analysts excited and institutional investors wanting to invest.
Right sermon over, am off out. Will come back if there is something to talk about. Keep up the good work shandypants
no probs at all - thought it amusing we posted exactly the same excerpt.
RBG is not London focused and main cities appear to be Manchester and Liverpool, but based on their update, and to a lesser extent Spoons, it definitely appears there is a shift in behaviours with the money being spent by the younger clientele who value experience and are prepared to pay for it. The late openings is also a big factor here too which the standard pub can't replicate.
If we can get through the critical xmas trading period without any covid restrictions then things look really healthy here (and also RBG) IMHO.
Sorry Shandypants, didn't mean to step on your toes. Am new to Nightcap obviously and hadn't got around to reading the posts, just today's. Now am here, will be keeping up to date with the news and posts, won't make the same mistake again. Though I can't promise to agree with you always.
Your mention of Revolution Bars, has had me looking at them. They were on the slide before Covid, hopefully Nightcap can ruffle their feathers. I think they could be more attractive to young women, having a girls night out, in any case.
Also clocked the lse adjustment to c.ocktails, will also bear that in mind if posting again.
How long I'll stay depends on the post Christmas H1 update. Am here now because am expecting very good numbers then.
fastduck - i posted the same last week (not having a go, just pointing it out).
I think the big news in the Wetherspoons update is that the lower end of the market is struggling (beer, older clientele etc) but the younger age drinkers are actively going out and are prepared to spend. A closer comparison might be Revolution (RBG) which is also at the higher end of the market and has late opening etc. They are performing very well too.
Below is an extract from JDW trading update rns Nov 10
In the last 15 weeks, there has been a considerable increase in sales of the range of drinks often consumed by younger customers, for example ****tails (+45%), vodka (+17%) and rum (+26%).
This confirms that the recent bullish Nightcap trading update was not extraordinary. Their establishments do cater for younger customers, particularly women who enjoy a good time and ****tails. With 3 new venues open this month, it would appear that Christmas is going to be very jolly for the group. Looks like the right time to buy.
As mentioned on Revolution Bars board the recent Wetherspoons update makes interesting reading - below.
“In the last 15 weeks, there has been a considerable increase in sales of the range of drinks often consumed by younger customers, for example ****tails (+45%), vodka (+17%) and rum (+26%).
In contrast, draught products, more often consumed by older customers, have been under pressure, with traditional ales down by 30% and stout down by 20%, for example.”
Then there is the christmas season - it appears many companies have delayed booking venues etc but as things slowly appear to be getting back to (new) normal there has been a big increase in bookings over the last few weeks. Got to bode well for Nightcap IMHO
Group's results for the 53 weeks ending 3 July 2022 will be SIGNIFICANTLY AHEAD of current market expectations!
Positive update!
Loads of cash
Expanding
68% increase compared to the same period in 2019, when there were no COVID-19 restrictions
Amazing
15-Nov-2021 results
https://www.cateringtoday.co.uk/news/pubs-and-bars/nightcap-plc-to-open-three-new-london-****tail-club-sites/
When are final results due? I can’t find anything on it and we had interim 7 months ago!
Shouldn't we have had the final results by now? Interim were 7 months ago!
Very low volumes. I woudn't say it's tanking. I've taken my position ready for the next trading update, quite confident here.
Anyone know why these are going so terrible? Bars are open and from what I’ve seen they’re busy
Exactly! Good buying opportunity right now.
This was doing better when the bars were closed in lockdown!
This was doing when the bars were closed in lockdown!
Bought a few here this morning. Price has weakened over the summer which is at odds with trading that can only have improved wince the last update, continued roll out of site. This this will do well over the next few years. Will continue to add to position unless the story changes.
We’re all in the bars drinking ****tails! It’s busy in there - should have decent results coming :)
If you folks are not here, is there anyone talking about NGHT anywhere else e.g. on telegram?
Yes, Positive RNS. Interesting rather downbeat assessment of the RNS by Paul Scott of Stockopedia this morning. Unsurprising though as he is a shareholder of revolution bars who he recommends.
(Not good Stockopedia......... you should be following your own guidelines.)
New London ****tail sit in Bristol and ‘The Company's bars have continued to trade well ahead of management's expectations since the relaxation of the UK Government's Covid restrictions on 19 July 2021 and the Company has put in place procedures to ensure that all of its bars remain open and appropriately staffed throughout’
I’ve done some consumer research ( no need to thank me) and the bars in London seem to be doing a great trade, almost impossible to get in. I expect the next trading update to be very positive.
Yup, I'm in.
Sentiment no doubt hit by scare stories about the 21st date being delayed. That definitely creates a buying opportunity here, as these bars are trading extremely well even with the restrictive measures in place. Many have large outdoor spaces and with the great weather are packed out from what I understand. EVEN IF, they had to delay or v worst case close again (which I can't see) they they have v little cash burn when fully closed vs sprawling bar chains such as Revolution. So...hold tight (or buy) for news of a trading update and/or further acquisitions.