Package holidays

Unpacking the holidays market

The UK package holiday market is expected to grow at a 14% CAGR from 2025-2029. We explore the key industry trends and dynamics in this report.

Ibstock plc

Setback dampens investment case

The prospect of Ibstock recording a pick-up in earnings this year has been dashed. While volumes continue to recover, the combination of higher-than-expected costs and weaker selling...

IRES REIT

Returns profile has materially improved

The changes announced to rent regulations fell short of the best case, leading to some consolidation in IRES’ stock. However, the ability to capture reversion will boost rent growth and...

Flutter Entertainment plc

‘Snai nergies’ – assessing the potential

The US has rightly been the new shiny toy for online gambling operators. However, Italy, Europe’s biggest regulated gambling market, has been delivering strong growth. Having acquired an...

Greencore Group

Bakkavor acquisition: a detailed study

We view the Greencore-Bakkavor acquisition as a compelling value creation opportunity. It establishes a c.£4bn revenue leader in chilled convenience foods by combining complementary...

Hill & Smith

Nothing to fear but fear itself

Hill & Smith has an excellent track record of growing EPS through periods of macro weakness. Another such period may be approaching. However, history has shown that investor concerns...

Breedon Group

Attractive fundamentals but lacking catalysts

Breedon has a clear strategy, credible management team, proven resilience and positive organic growth prospects in 2025/26. It has also performed well as a stock, up 50% over the past...

Ryanair Holdings

All set for the summer; new €750m share buyback

Ryanair’s FY25 is at the very top end of previous guidance; FY26 guidance, while measured, implies strong demand with an ever-strengthening balance sheet. A new €750m follow-on...

FBD Holdings

Strong execution

FBD continues to execute its strategy strongly. This is evident via ongoing increases in gross written premium (GWP) across its business lines and cash returns via ordinary and special...

Hostelworld

Growth to reaccelerate with balance sheet optionality

Hostelworld’s Capital Markets Day outlined an ambitious strategy to drive further revenue and updated on capital allocation. Its platform and social strategy are primed to deliver...