Mitchells & Butlers Share Discussion Threads

[capitalist] 24/1/2024 11:18

Thank you for that adobbing

[adobbing] 23/1/2024 17:47

If they’re held in an ISA or other online account, you may need to get that company to request on your behalf.
If you hold in certificated form, or somehow appear on the register of shareholders, they should get sent direct.

Latest voucher book arrived in December.
12 x 20% vouchers + 1 x 30% voucher (125 years celebration)
All valid until 31/01/2025.

[capitalist] 23/1/2024 16:28

Do they still send out the books of vouchers? I have held for over a year but not had any.

[phillis] 17/1/2024 08:32

Encouraging update

[f15jcm] 30/11/2023 19:29

Customer spending aside, interest rates don't actually make a difference here. Bonds run until 2030 and where they are not at fixed rates, they are hedged.

[careful] 30/11/2023 17:48

Seems that the write down in the value of the assets accounted for most of the loss.
Obvious really, hard to believe that pubs will be as valuable as they once were.

Interest rates will fall, all is not lost.

[togglebrush] 30/11/2023 10:13

Dividends

There were no dividends declared or paid during the current period.

[wish i wasnt in rbs] 30/11/2023 10:11

LOL - the figures speak for themselves dont believe the management BS

[phillis] 30/11/2023 08:52

Read the RNS - properly

[wish i wasnt in rbs] 30/11/2023 08:36

Whatever happened to the profits? Awful results.

[miner66] 15/11/2023 16:56

Makes sense the liability will have collapsed this year, with rates rising. This would be the ideal time to close out DB schemes and eliminate the horrible liability at the cheapest price in probably 15 years..... When are their next numbers due ?

[trcml] 23/10/2023 21:49

new here, I have it on good authority that MAB's pension fund deficit will be paid by the end of this year. Not said but implied the divi might be restarted.

[libertine] 30/9/2023 10:46

Shore Capital: Mitchells & Butlers is ‘inexpensive’
Shares in pub group Mitchells & Butlers (MAB) are inexpensive despite a strong balance sheet and building momentum, says Shore Capital.

Analyst Greg Johnson retained his ‘hold’ recommendation on the Citywire Elite Companies + rated stock, which was trading at 223p on Thursday.

A fourth-quarter update from the group showed ‘momentum during the year’ had pushed into the final three months of the financial year, with like-for-like sales in the 52 weeks to 23 September up 9.1%. Full-year results are expected to be near the top end of expectations.

‘The group continues to trade well, the balance sheet has significant property backing and the shares are inexpensive,’ said Johnson. ‘We have a “hold” stance, noting the limited cashflow relative to its bond amortisation schedule, with better value in the likes of Marston’s (MARS) and Restaurant Group (RTN).’

[trader465] 28/9/2023 07:59

Strong trading has continued through the fourth quarter, bringing year to date like-for-like sales growth to 9.1%, with total sales growth now of 10.5%.

[mackie] 22/8/2023 10:41

Well worth keeping an eye on this one. Locally they have refurbished 5 outlets and all seem to be very busy and popular. If this is being done on national basis, and I think it is, the outcome will be well worthwhile.

[volsung] 27/7/2023 20:10

MAB rhymes with WAB

[volsung] 19/7/2023 15:30

Bought a few
Have a few JDW. Hopefully MAB will do as well as them

[morti1] 01/6/2023 04:17

Phillis, that’s all good and true , but for a business operating with high debt and small profit in relation to that, ultimately in time assets will need to be sold off to continue financing a business model that has minimal sustainability based on its current cash flow. If assets are sold off then surely this will impact on its overall valuation as a company.

[standish11] 31/5/2023 17:30

* Mitchells & Butlers : HSBC raises target price to 300p from 185p

* Mitchells & Butlers : HSBC raises to buy from hold .

[phillis] 31/5/2023 16:58

Mort
Could it be perhaps that the borrowings are secured on something like £4.5billion of prime property assets ….

[standish11] 18/5/2023 09:18

Mitchells & Butlers : Jefferies raises to buy from hold
Mitchells & Butlers : Jefferies raises target price to 270p from 170p

[morti1] 18/5/2023 09:13

I am confused by these 6 month figures!

Profit before tax of GBP40m (HY 2022 GBP57m)

Net debt(a) reduced to GBP1,193m

How can a company like this be considered a buy when it is facing ongoing inflationary pressures but worse still, it’s 6 months figures show a small Profit before tax of GBP40m and yet has a net debt of GBP1,193m ???

I don’t understand the sustainability of this. Can someone please explain!!!

[netcurtains] 17/5/2023 12:18

Round about 200 was the target I was looking for. Not sure if I should sell hold or buy more. Difficult one.

[kalai1] 17/5/2023 12:06

M&B plc posted solid Interims for the HY to 8th April this morning. The Group recorded strong like-for-like sales growth of 8.5% versus HY 2022, built on volume growth in both food and drink, taking total revenue to £1,282m. Operating profit was down to £99m (HY 2022 £121m) with PBT down to £40m (HY 2022 £57m) with costs remaining a challlenge. However, the medium term cost outlook is improving. The balance sheet looks solid with net debt reduced to £1,193m and at multi-year lows, while gearing ratios are both under 100%. Mangement remain focused on the Group's Ignite programme of initiatives and its successful capital investment programme, driving cost efficiencies and increased sales. The medium term outlook looks encouraging as inflation pressures recede, although the weak economic outlook poses some headwinds to consumer discretionary spending near term. Valuation is decent if not compelling with forwrd PE ratio at 14.4x in the second quartile for the Hotels & Entertainment Services sector, PS ratio at 0.53x is a little more attractive and top quartilwe for the sector. Share price also has positive momentum andis extending its 6-month rally this morning. BUY...

...from WealthOracle