Brighton Pier Group (BPG) looks to be rather more than a clear play on the expected UK staycation boom, attractive as that is. With a focus on popular low-ticket leisure, driven by the group's fabled eponymous key asset, entrepreneurial management sees longer-term growth opportunities as a consolidator accelerated by fallout from the pandemic. For now, it is confident that buoyancy in the Pier and Golf after spring 2020 lockdown (sales in Q3 almost at 2019 levels) can be repeated on imminent phased reopening, while business interruption insurance payments should continue to buttress results. Finances appear secure with £6m liquidity, further insurance payments aside, and, even after FY20 impairments, low gearing, given asset backing (70% and 47p NAV per share at end-2020).Den vollständigen Artikel lesen ...