Hollywood Bowl profits increased despite Covid restrictions in the past year. The group reported profit after tax of £1.7m.

Chief executive Stephen Burns said: “The past year has been challenging but also rewarding. “I am delighted about the excellent performance since reopening, including delivering record activity for both a single day and an entire month, exceeding our FY2019 trading levels on a like-for-like basis, and delivering a profit for the year.”

“Notwithstanding the ongoing uncertainties regarding COVID-19 restrictions, we remain confident in the continued strong ongoing demand for fun, safe and family-friendly experiences,”

“Our strong balance sheet and highly cash generative business model means we are well positioned to continue our refurbishment programme and rollout of both the Hollywood Bowl and Puttstars brands.”

Inflation has hit its highest point in over a decade.

It jumped to 5.1%, which is over double the Bank of England’s hope to keep it at around 2%. In October, inflation was 4.2%. Inflation has risen due to rising fuel costs, which have affected travel prices.

“The price of fuel increased notably, pushing average petrol prices higher than we have seen before. Clothing costs – which increased after falling this time last year – along with price rises for food, second-hand cars and increased tobacco duty all helped drive up inflation this month,” said Grant Fitzner, chief economist at the Office for National Statistics.

Commenting on the latest figures, Danni Hewson, AJ Bell financial analyst, said: “Another month, another hike in the cost of living. At 5.1% it’s uncomfortably above most analyst’s expectations and reaches the level the Bank of England had predicted for next spring.  It begs the question; how hot will the temperature really get and how will households cope?”

“Should the Bank of England raise rates tomorrow? Should they have done it twelve months ago because realistically that’s how long the measure takes to make an impact. Think back to December 2020 and imagine the reaction if the Bank had hiked rates then. Now consider where we are.”

“There’s no question that prices are too high. There’s no question that if employers start to raise wages substantially that’s just going to add to the problem. There’s no question December 2021 is beginning to look a lot like December 2020 and there’s no question that whatever decision the bank makes tomorrow it won’t bring a solution for today.”

Pubs and restaurants across the UK have predicted a 40% dip in takings across the Christmas period under the new measures.

As the government has told people to work from home, 25% of Christmas parties in London were cancelled whilst general takings were down 40%.

“The damage has been done. We immediately saw cancellations. Anybody who was at all nervous, or any company that was planning a do was likely to cancel,” said Phil Urban, the chief executive of Mitchells & Butlers.

“We saw the impact on Friday and Saturday but we’ll really start to see the damage this week, particularly in city centres where historically we’d have lots of corporate events. That’s gone now and there’s nothing anyone can do to put it back.”

Hospitality shares were down on Monday as investors reacted to the new guidance.

The head of UK Hospitality, Kate Nicholls, commented: “The government’s official advice since the arrival of Omicron and the introduction of plan B has been very clear: go ahead with Christmas and new year parties as long as you are not showing any symptoms of Covid.”

“Hospitality operators have invested heavily to ensure the safety of staff and customers, focusing on better ventilation, hygiene and sanitation … As a result, pubs, bars, restaurants, hotels and nightclubs are safer places in which to socialise with family and friends than at home this Christmas.”

Begbies Traynor has reported a 39% rise in revenues from £37.5m to £52.3m.

Pre-tax profits also rose from £0.5m to £2.7m in the six months to the end of October. The group has said that it expects to reach market expectations for the full year.

Chief executive Ric Traynor commented: “I am pleased to report a strong financial performance in the period, which is a testament to the benefit and integration of our recent acquisitions and maintains our track record of growth in revenue and adjusted earnings.”

“This strong performance, and an anticipated increase in national insolvency numbers following the removal of the Government’s pandemic support measures, leaves us confident of delivering market expectations for the full year,”

Ocado has said that it is expecting its strongest ever Christmas period.

The group released results for the 13 weeks to 28 November, with £547.8m of revenues. This was down from £570.1m in the same period a year earlier.

“The investments we have made over the past year mean we have significant capacity for growth in 2022 and we will continue to invest in facilities, systems and people in the year ahead to deliver on our long-term growth potential,” said Melanie Smith, the chief executive officer.

“We are working hard to manage current industry challenges, and Ocado Retail has great momentum as we get ready for another record Christmas and further strong progress next year.”

The expectations of a strong Christmas sparked a rally in Ocado with shares rising over 8% in early trade on Tuesday.

There was also optimism around legal proceedings related to the technology powering their robotic warehouses.

“The market has taken a positive view of Ocado’s collection of news, despite some of it being negative,” said AJ Bell investment director Russ Mould.

“It’s a massive relief to the business that it won the first-round ruling in a patent fight with Autostore over technology linked to robot warehouses.”

“While the legal fight is still ongoing, the results so far mean investors can worry less about Ocado having to pay out money for patent infringement or having its reputation tarnished. However, Autostore is going to fight the ruling to the very end so there is still an underlying risk associated with the matter.