Wizz, which rents its aircraft, has made a significant bet on growth, with orders for 273 planes before 2026 © Bloomberg

Overcapacity in the European short-haul aviation market is a sensitive subject, especially in light of the recent collapse of multiple budget airlines. But this hasn’t deterred Wizz Air from expanding. By February, the airline had increased capacity by more than a fifth year on year, serving 29.1m passengers — a quarter more than the year before. During the third quarter alone, 39 new routes were announced and a further four in February, taking the current total network past 600.

So far, so good: the share price has doubled over the past 12 months, which could leave some investors wondering if this is an opportunity to bank some profits. Chief executive József Váradi seems to think so. Vaxco, a Malta-based holding company associated with the Wizz Air boss, sold 150,000 shares for £5.4m at the end of last month.

The pub industry faces challenging times, weighed on by pressures including the national living wage and the apprenticeship levy. Not to mention macroeconomic uncertainty as the 2019 Brexit date looms ever closer. Against this backdrop, we see Young & Co as a quality stock. The pub group has benefited from operating at the premium end of the market, selling higher-margin products.

In a sign of the group’s strong growth trajectory to date, non-executive chairman Stephen Goodyear received a deferred annual bonus share award back in June 2015. He now faces an associated forthcoming tax liability, leading him and his wife Patricia to sell 9,000 shares each at £13.75 per share, totalling £247,500. In a move that should inspire some confidence among investors, these shares were bought by Nick Miller – a non-executive director at Young’s.

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