Capital Pub Share Discussion Threads

[meict] 01/2/2010 15:01

The Market Makers are quoting an 86p Middle Price but are Bidding me 86.05p for my shares,

Meic

[meict] 01/2/2010 14:23

No, I do it every so often. I would have just stayed at The Puzzle yesterday if I was drinking. In fact I'd have just gone down The Florence, as its nearer.

This way, I can really get round the pubs and see what is what.

Meic

[cockneyrebel] 01/2/2010 14:15

Sorry Meic - I thought you were joking about the abstention :-)

I cannot imagine what that's like being on an abstention and going on a pub crawl - must be like being a shoplifter in Woolworth with handcuffs on I guess :-)

CR

[jeff h] 01/2/2010 14:05

Thanks for the report Meic - I note that the Florence has just obtained permission to use the outside area

[237gmoney] 01/2/2010 13:46

Its a shame the wishing well will not open until Easter time as they will miss nearly all of the 6 nations trade but will be open in plenty of time for the world cup so all is not lost.

Would the purchase of 40% of the Havelock not trigger an RNS? But then I guess they will annouce this formally in the trading update.

The trades is an odd one Meic. seems there has been quite alot of buys today, volume is picking up which is good. share price has ticked up again as well.

LSE now showing two trades so pehaps Plus is better to gauge how this one is trading. Another buy gone through at 86p...

13:27:47 86.00 3,459 2,974.74

[meict] 01/2/2010 13:15

PLUS is showing 8 trades for today:

08:01:09 85p 1,500 £1,275.00
08:21:07 86p 1,500 £1,290.00
09:59:16 86p 5,000 £4,300.00
10:00:16 86p 6,000 £5,160.00
10:58:47 86p 3,400 £2,924.00
11:05:19 86p 5,000 £4,300.00
11:34:49 84p 940 £789.60
11:56:22 86p 1,500 £1,290.00


My on-line share buying system (Halifax) and the Stock Exchange site are showing just 1 trade:

08:19 85p 2,941 £2,500.00

Meic

[davidosh] 01/2/2010 13:06

Meic.....Maybe you should add the Pub Crawl story to this thread over on TMF as there is a good following over there.



That is the whole thread if you want to add anything..

[meict] 01/2/2010 12:44

I just spoke to James Watson, Clive's brother.


Initially regarding The Peer, which has been let on a 15-year lease but is still on the CPUB website. It'll probably be removed shortly.


The Wishing Well is expected to be open around Easter time.


The story in the Morning Advertiser is true, CPUB have bought 40% of The Havelock. They've put in a manager and will take 40% of the profits. There is an option to buy the remaining 60%.

Meic

[meict] 01/2/2010 12:22

CR, yesterday was my 12th day of abstention.

Not all wasted, I wrote a recommendation on The Merchant for Beer in the Evening.

I based it on my thoughts and those of the previous writers, it may encourage people to go there.

I'll do it for all the pubs I visit whilst I'm not drinking, at least it moves their scores up.

Meic

[237gmoney] 01/2/2010 12:16

I notice Pubs n Bars only had sales of £11m with 87 pubs in 6 months last year so it goes to show how well CPUB are doing with 27 pubs with sales close to £22m this year.

Makes a real big difference in what class of pub you have....

[237gmoney] 01/2/2010 12:13

I think the recent press worked a treat, has got a few more on board. Long may it continue.

[cockneyrebel] 01/2/2010 12:09

Cracking pub crawl Meic - surprised you could type straight when you got back :-)

Seems to be picking up momentum imo.

CR

[meict] 01/2/2010 12:09

Market Makers Bid 84.5p but unwilling to quote an Offer price.

84.5p to 86p, middle price actually 85.25.

Onwards to 90p.

Meic

[cockneyrebel] 31/1/2010 13:32

Can't see what he was moaning about - getting a free side order like that.

I suppose he might have been vegetarian.

CR

[jeff h] 31/1/2010 13:03

Meic - the cost doesn't bother me...as I said I'll try the Square Pig the next time I'm down and maybe one or 2 others.

I've been the Wetherspoons to the right of Holborn Tube (opposite direction to the Princess Louise) which was ok.

I hope the foods improved at the Havelock...from the link:-

"I was served up a live 2cm log slug with my salad."

....maybe the chef thought he was working in a Slug & Lettuce?!

[cockneyrebel] 31/1/2010 11:22

It says they do now take credit cards doesn't it



CR

[meict] 31/1/2010 05:28

This Havelock story sounds a bit strange but we'll learn about it sooner or later.

The way the pub is operated is also unusual with no credit and/or debit cards taken. My guess is that they have bank debts hanging over them, perhaps a legacy of the fire (see comments at Beer in the Evening, URL below).



Meic

[meict] 31/1/2010 05:12

Congratulations Timbo!

You're going to do well with the Convivial Pub Company. I wondered why CPUB didn't sell those three pubs to them, they looked like a good fit.


The pubs look great and, if anything, even more expensive than CPUB's.


You're right about the bolt-on acquisition or even a reverse take over but not whilst CPUB is selling at half NAV.

Meic

[meict] 31/1/2010 04:50

Jeff H,

I know that it'll be expensive but it's not like we're going there every night. I'm on the wagon, until early March, regenerating my liver, so I won't be drinking for a bit. You can see what a pub is like just by walking through it. I expect the beer to be about the £3.50 mark.


The Company is targeting areas of London where a percentage of the population is willing to pay West End prices (and a bit more) for comfort and good service.


As I'm now diabetic, I don't drink, as I used to. The doctor told me, "... ten or eleven pints" and I thought "I'm not drinking that much these days" but he meant a week! Not enough for me, I'm afraid but you can't live forever.


I go to Wetherspoons sometimes, most of them are sh*t holes but the beer is fairly good but the staff less than courteous. Is customer care just two words to Wetherspoons? Are please and thank you just words that they're trained to avoid?


If you're in Town, try the Lord Moon on the Mall, you can always go to the Lamb & Flag in Rose Street. If you stay in North London, try The Gateway in Archway, tumbling back down the hill there are lots of nice looking pubs.


If you're on your way to The Square Pig, why not have a couple in the Princess Louise first? Averaging out the price will probably be better. I'll go there before I try The George.

Meic

[timbo003] 30/1/2010 18:34

Whilst I am no longer a shareholder of this one, I do hold these



They were previously called Capital Pubs 2, they are now called Convivial pubs, needless to say they were (at launch) managed by the same people (I was an initial subscriber for the shares and I benefited from the very generous EIS tax breaks, thankyou Gordon Brown). Convivial would make an ideal bolt on acquisition for CPUB and give original investors in Convivial a suitable exit route.

[cockneyrebel] 30/1/2010 16:02

Nice: confident the company could add a further three to four pubs in 2010.

Most small investors are looking at this on a PE basis but larger investors are often more focussed on enterprise value or discounted cashflow. I think the stunning part of the next results will be the cashflow. Already huge, it will increase even more with all the refurbs done imo.

The real beauty of this share is that they can buy pubs and increase the estate out of cashflow while paying down debt.

If you are growing like for like sales, growing margins and increasing the estate out of cashflow while achiveing this from roughly a similar size management central cost structure then the earnings growth down the line starts to look like becoming a bit stunning imo.

If pubs are coming back under focus, as the Times suggests then CPUB could be in the sweetest of sweet spots with the World Cup on the horizon too imo.

Hence my decision to chose this stock for the Motley Fool contest. You get all that potential and a stock trading quite a way under NAV by the look of it which sort of feels like a great risk v reward imo.

CR

[jeff h] 30/1/2010 14:13

The below doesn't appear to be 100% accurate as the Uplands acquisition was already reported in November:-