Daniel Thwaites Share Discussion Threads

[bedford1976] 03/1/2025 17:10

I concur that the most likely outcome here is that Daniel Thwaites is better off going private. It's a family company owned by the Yerboriugh's, and really does not belong on a stick exchange.

[gfrae] 31/12/2024 18:58

Yes. One might think that the obvious thing to do is for the family and/or another to buy back the shares they dont already own for somewhere under £2 and liquidate sufficient assets to pay back borrowings, delist, and make a substantial profit.
Especialy now that there are now IHT disbenefits of having a listing. (Another unfoseen side affect of the budget).

[c3479z1] 31/12/2024 15:49

assets include a pension fund surplus, inherently volatile,
problem with Thw and other pub cos is the budget introduction of NI for part-time staff, half of THW's employees are part-time as well as the rise in the NLW for younger age gps in particular and loss of relief on business rates, altogether a lot to contend with and Labour could hardly have done more to wreck the business model. Do acknowledge the asset backing though of about 210m excluding the pension surplus.

[pdosullivan] 05/12/2024 12:41

Thwaites reported net assets of GBP255.5m at end-September 2024 which compares to today's market cap of GBP48.5m

[david2013] 05/12/2024 11:49

I may be tempted to shift my Weatherspoon investment to THWAITES.Could someone advise me as to the current discount in the hotels?

[pdosullivan] 21/11/2024 13:02

They also offer a shareholder discount for their hotels!

[gfrae] 21/11/2024 12:01

They do produce a yield. They are very cheap. They will eventually go up.

[david2013] 21/11/2024 11:12

Are there any benefits to holding ThwItes shares? I note that they don't produce a yield.I live in York where they have a very nice hotel in a great location and a handful of pubs with rooms (some of which couldn't be describes as premium). Can't understand why the shares are so cheap.

[gfrae] 15/11/2024 15:17

How much lower do you think they could Go ?
The shares are currently trading at approx. 20% of NAV.
They are by far the cheapest share relative to their cohort.
There does appear to be a consistent seller though.

[pugugly] 15/11/2024 14:40

Surprised holding up so well after the budget - Many other hospitality companies have been clobbered. share price at time of posting 83/87p 10K sold at 83p

[pdosullivan] 12/4/2024 07:17

For a period during the pandemic they entertained shareholders submitting written questions before the AGM, with detailed responses provided on the website. It is a pity that they seem to have discontinued that.

[david2013] 11/4/2024 16:13

I note that the director bought some recently at 71p. Has any of the group ever been to the agm and listened to the directors and cfo describe the company in a positive light?

[pdosullivan] 07/4/2024 07:03

GBP44m and trading at around a sixth of tangible NAV

[coolen] 06/4/2024 21:24

Starmer's team are threatening to cancel the IHT relief of companies such as Thwaites, so maybe it is a stream of sellers ahead of that. Any views ?

[gfrae] 06/4/2024 20:45

NAV over £4. Cap around £70m . Look ridiculously cheap. But, there seems to be a steady seller.

[david2013] 06/4/2024 20:31

I wouldn’t mind buying some Thwaites Shares. Live in York. Middletons hotel must be worth 6 Million. Judges Lodgings very well developed and rammed in Summer. Light Horseman a bit shabby. What’s the market cap?

[pdosullivan] 06/4/2024 13:11

I wonder if Thwaites would be open to buying some or all of Adnams given the comparable business models.

[pugugly] 22/6/2023 20:37

Link to the new ASQE Advfn link thanks to ruslan1.



Quote 80/100 - Spread impossible

26th June more like 95/97 but if largish holder looks as though need to take a hair cut. NAV and yield look interesting but with increase in mortgage rated and infltion suspect only for very long term holders - not a dealing stock.

[pdosullivan] 22/6/2023 20:00

Yes and the Group is well placed to pounce on any distressed hotel assets that meet its acquisition criteria in the current market backdrop.

[gfrae] 22/6/2023 07:20

Good figs again. Company has interest rate rise protection in addition to long term borrowings at a reasonable rate. Beneficiary of those holidaying in the UK. PE of about 5, or without the interest rate swaps about 10. Pension fund surplus. NAV of £4. Etc,etc....but market not interested !

[jbfnfn] 06/2/2020 19:06

Mark Fisher the non-exec appointed June 2019 bought a few shares.

[timnet] 03/1/2020 11:31

Do I detect a wee bit of movement?

[jbfnfn] 15/11/2019 21:11

The interim results failed to move the share price. I guess that means results are not too bad, steady as she goes.

They only mention one like for like figure in the results 2% turnover increase in Pubs and Inns. I am not sure how much of the rest of the revenue growth is the result of recent investments and refurbishments coming onstream.

For a company with a substantial hotel business they don't mention Revpar (accommodation revenue per available room), occupancy rate or average room rate. Hopefully they have these numbers to hand internally.

A couple of plus points for me they sold the Funny Girls vennue but kept the two pubs associated with the transaction. This means they are no longer managing a theatrical venue. Optimistic that they can make money from the pubs. Also they sold three pubs and a parcel of land for a profit. This helps to have some faith in the valuation of the properties in the balance sheet. The only caveat here is we don't know the profit on the value of the parcel of land sold.

Another plus point the debt came down.

I'm holding on to my small stake here. I'm just a penny punter.

[gfrae] 13/11/2019 15:36

Good results aren't they?
Normalised Eps of 9.2p versus 7.2p and debt reduced by £10m.
Again those disastrous swaps drag them down, who was responsible for those?

[scotch broth] 13/11/2019 15:07

Nothing to say on the interim results. I do not expect to get rich on this company though.