Granted, other challenges lurk above and beyond omicron, including staff shortages, scarce carbon dioxide, input cost inflation and pay rises.

But Fuller Smith & Turner has a well-tended estate of pubs and hotels in prime metropolitan and rural sites in the south-east of the UK, notably London, and it takes little imagination to see business coming back strongly as workers and commuters return to offices and tourists to the nation’s capital and beauty spots.

Higher food and drink volumes should flow through just as quickly to the bottom line as a drop in customer numbers drained profits in 2020 and 2021.

It still has every chance of raising a cheer. Buy

Questor says: buy

Ticker: FSTA

Share price at close: 662p

Update: I3 Energy

It is often trouble that comes in threes at small-cap stocks (or even large-cap ones for that matter) but, pleasingly, the opposite appears to hold true oil and gas producer I3 Energy.

December’s production update suggests aggregate output from the Canadian and North Sea fields continues to surprise; oil and gas prices remain firm; and as of last week the company is committing to monthly dividend payments. The targeted £11.8m total payout for 2022 equates to just over 1p a share, for a forward yield of 6.4pc.

The story is heating up nicely. Keep buying.

Questor says: buy

Ticker: I3E 

Share price at close: 18.8p

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