...and the rest

Investors’ Chronicle

The long pandemic slump is over for Premier Inn-owner Whitbread, with latest fullyear results showing revenue per available room up by 55% to almost £60. The group still has scope to consolidate the fragmented German shortstay market, and “excellent operational execution” thus far means we hope there is more to come. Keep buying (3,316p).

The Mail on Sunday

Niche North Sea energy play Jersey Oil & Gas is raising money to develop the offshore Buchan field, thought to contain 100 million barrels of oil. Moving to production will be an expensive task, but tax incentives that allow oil firms to offset much of the cost of new investment against the energy windfall tax should help generate interest. The group’s experienced managers should deliver. Buy (245p).

The Telegraph

Shares in retailer WHSmith have been hit by Covid and weak household sentiment but the latest half-year figures show “good progress”. Management continues to pivot away from the high street towards more profitable outlets in airports and train stations. On 19 times forward earnings the shares aren’t cheap, but the “captive” travel market means this “highquality” stock is worth sticking with. Hold (1,546p).

The Times

Builders’ merchant Travis Perkins’ “ambitious and costly expansion... of its Toolstation” arm across the UK and Europe comes at the worst possible time amid the housebuilding slump. The shares have slid by 20% in a year but with little clarity about when the expansion will yield rewards, they are best avoided (936p).