What the Sunday papers said
The Sunday Express
Shares in SFI Group look attractive according to the Express. Concerns over SFI, which operates Slug & Lettuce and Bar Med, have surrounded the company's high debt. The management is taking action, selling non-core assets, and opening fewer pubs. A stock overhang depressing its price and the shares, trading at just eight times earnings, look attractive at 149p.
The Mail on Sunday
In the year to June, the cost of food dropped 1.9 per cent, but the cost of restaurant meals was marked up four per cent. Beer and wine bought for drinking at home cost the same in June 2002 as they did in June 2001. But a pint at the pub went up by three per cent and a glass of wine, by four per cent.
Leisure company Gala Casinos is challenging the national lottery by launching a poker game that offers players the chance to win more than £500,000 with a £1 stake.
The boss of Hilton say he wants to shake off the company's business-bed image and boost sports and activity breaks.
After a string of profit warnings two directors at the Big Food Group, which owns Booker and Iceland, have spent more than £200,000 on shares, following the price collapse. In March the shares stood at 119p each. They ended last week at 37.5p.
The Sunday Telegraph
Farmers and householders who try to supplement their income by running bed-and-breakfast establishments in Wales could soon find they are closed down. Under a scheme to be announced this week, all such establishemnts must be officially licensed. Licences will only be issued after officials from the Welsh Tourist Board have checked the premises comply witha thicket of requirements.
The Independent on Sunday
Diageo is to serve a six-month ban on wholesaling spirits in Norway after a sales promotion, run for the group's Smirnoff Ice cocktail, was deemed to have broken Norway's strict rules on advertising alcohol. In Norway drinks companies are not allowed to market products directly at the consumer, only trade promotions.
The Business
"Sickies" cost small business in Britain a month-and-a-half in lost productivity last year, according to the Forum of Private Businesses (FPB).
The Weekend FT
America's war on smoking escalated when New York's mayor Michael Bloomberg urged a ban on cigarettes in all city restaurants and bars. Under current laws smoking is banned at all city restaurants with more than 35 seats. A complete ban already exists in California and Delaware. Mr Bloomberg has also raised tax from eight cents to $1.50 a packet. The move meant 15.6m packs were sold in the city last month compared to 29.2m a year ago.
Last week Luminar's stock hit a year low of 626p, losing 33 per cent of its value since a high of 926p in May. Some analysts are seeing the weak share price as a buying opportunity. The company has promised 15 per cent earnings growth over the next three years. This seems achievable given the 29 per cent increase in the last five years.
Merrydown, the group that bought the Two Dogs bottled beverage to the UK, last year grew sales by 34 per cent, in a market up 19 per cent. Shares stand at 41.5p from a year high of 53p in early July. Profits of £1.3m are forecast for 2003 giving a p/e of 11.9.
The Sunday Times
Sharp cutbacks in banking and a dearth of American tourists have hit top hotel groups hard, as prospects for a recovery in the second half of this year fade away. Most of the companies are sufficiently well financed to ride out the downturn but if it continues into next year, a handful will start to feel the pain.
The Observer
Evidence that high street activity has picked up following disappointing June figures is encouraging but will fail to change views that the consumer boom is over. The BRC (British retail Consortium) said shop sales grew by four per cent in July, higher than June but well below figures seen earlier this year.
