Daniel Thwaites Share Discussion Threads

[davebowler] 02/12/2014 13:49

hxxp://www.danielthwaites.co.uk/wp-content/uploads/2014/08/AGM.pdf

[davebowler] 24/6/2014 08:41

hxxp://www.insidermedia.com/insider/north-west/117540-thwaites-names-new-brewery-site?utm_source=breaking_news_newsletter&utm_medium=top_story_article&utm_campaign=breaking_news_tracker

[davebowler] 04/6/2014 12:38

hxxp://www.thegrocer.co.uk/fmcg/bargain-booze-brings-thwaites-craft-beers-to-the-high-street/349993.article

[septimus quaid] 27/6/2013 18:28

Profits down 15% at Blackburn's Thwaites brewery

12:00pm Thursday 27th June 2013 in News
A DROP in profits of 15 per cent at Thwaites brewery last year has been blamed on the wettest summer for more than 100 years and the consumer environment.

The Blackburn-based firm, which posted profits of £10.5million, said it had had to respond to a 'challenging trading environment' over the past 12 months.

A report into the firm's financial position revealed a turnover of £136.4m, which is a 0.6 per cent decrease on last year.

Tough trading conditions are said to have seen net debt for the pub firm increasing from £45million in 2012 to £56.8m this year.


Thwaites chairman Ann Yerburgh said: "The impact of the wettest summer for over 100 years and the consumer environment, particularly in the North West, has had a detrimental effect on the performance of our pub estate and beer company.

"Since the beer duty escalator was introduced in 2008, tax on beer has increased by 42 per cent which has caused long-term damage to the pub industry."

[davebowler] 27/4/2012 10:06

As at Dec ;
Directors Dealings in Shares

The Company announces the following dealing in shares:

Director: Mrs. A. J. M. Yerburgh

Purchase of 40000 shares on the 12 December 2011 and

Purchase of 20000 shares on the 16 December 2011

Price paid: 1.15 GBP per share

Total shares currently held by Mrs. Yerburgh: 3673860

Percentage of issued share capital: 5.735%

Total Directors Shareholding: The total percentage of issued share capital held
by Directors' is now 38.6%.

[davebowler] 25/4/2012 12:40

Try their own website GingerPlant -I think there's a summary somewhere.
Or maybe here -

[gingerplant] 16/4/2012 09:18

Can anyone point me in the direction of the shareholder register with Thwaites? Are the familyin a position where they can do what they want to in other words?

[omega09] 12/4/2012 23:45

davebowler,

Had a quick look through the recent accounts and this company certainly looks very undervalued given the huge discount to NAV as well as being profitable and a dividend payer. Also encouraging to see the Chairman buying recently. Clearly from reading the other posts on the thread this situation has persisted for years. As someone who has followed the company for some time do you know why this is? Is there any reason to believe that the tangible NAV could not be realised? Will dig deeper over the weekend but just trying to work out what I'm missing.

[davebowler] 10/4/2012 09:50

Thwaites NAV per share is still high at 3.80p whereas its price is £1.05

[davebowler] 06/7/2011 13:06

Final Results

NAV now c.£3.80 versus price of £1.40

[davebowler] 07/2/2011 10:48

This Brewer, Youngs trades at book value;

[davebowler] 20/12/2010 16:22

DJ Thwaites (Daniel) Plc Holding(s) in Company


TIDMTHW

On the 15 December 2010, Guinness Peat Group plc and its subsidiary companies
notified Daniel Thwaites P.L.C. that following the recent acquisition of 20,000
Daniel Thwaites Ordinary Shares, Guinness Peat's interest in Shares now
amounted to 9.01% of the issued share capital. The total number of shares held
by Guinness Peat Group plc is 5,676,403. Guinness Peat confirm that as far as
they are aware, no person interested in the Shares is party to any agreement or
arrangement relating to the exercise of any rights conferred by holding the
Shares subject to this notification.

[davebowler] 22/11/2010 15:42

Capitalisation of co. now is £104m whereas NAV is £239m
Its profitable, too with 4.9p eps for the half year.

[davebowler] 22/11/2010 15:32

1/2 year report;

[davebowler] 06/10/2010 17:47

Pubs and brewery group, Marstons reports improving trends in all of its trading divisions compared to last year and says that earnings for the 12 months to 2 October 2010 are in line with expectations.

[davebowler] 22/6/2010 15:41

Its quoted on Plus

[spob] 11/6/2010 12:44

You got the correct epic code here ?

is this an AIM stock ?

[davebowler] 27/5/2010 14:40

Daniel Thwaites



Founded in 1807 Daniel Thwaites is a Lancashire based brewer and pub retailer based in Blackburn. Its estate currently amounts to around 400 pubs, located mainly in the Midlands and North of England. In addition, the group's hotel division, Shire Hotels, operates 7 hostelries in England.



Results for the six months to 30th September 2009 showed operating profits down by 24% to GBP6.9 million in the half, on turnover which was 8.1% lower at GBP76.2 million. Excluding gains on disposals pre-tax profits plunged by 37.5% to GBP3.5 million. However, the results were strong enough for the company to maintain its 1.1p interim dividend.

Across the divisions, operating profits from the brewery operations remained unchanged at GBP4.1 million as trading continued to be affected by supermarket alcohol offers and other lower-priced competition. Like- for-like volumes fell by 7% and the firm remains cautious on its outlook into its 2010 financial year. On a brighter note, reduced operating costs are expected to be realised due to falling utility and raw material prices, along with changes introduced through last year's restructuring programme.



The highlight of the half was the disposal of the upmarket Stafford Hotel for GBP77.5 million. The sale was completed at an impressive 28.7 times operating profits to the Britannia Hospitality Limited, with the proceeds used to pay down debt.

Trading in the hotel division was said to be "extremely tough", with contributions to group profits falling by 24% to GBP4.1 million as consumers and corporate customers tightened their budgets. While the company has noticed a reduced rate of decline in trading it is still cautious about the outlook for trading in the unit.



Despite the tough trading conditions Thwaites' balance sheet was much improved at the period end, mainly as a result of the Stafford disposal. Net current assets stood at GBP6 million, with GBP6.6 million in cash holdings, versus net current liabilities of GBP29.7 million at the 2009 year-end. Net debt fell to GBP53.4 million from GBP136 million at 31st March 2009 but since no cash flow statement was released with the accounts it is difficult to see exactly how much of the reduction is down movements in working capital. Net interest payments on liabilities were covered 2.15 times by operating profits before the one-off profit. However, despite the fall in the debt pile the company says future interest payments are "unlikely to fall significantly" due to prior hedging arrangements. Thwaites' pension liability fell by 11.1% during the six months, to stand at GBP8.8 million at the period end.



At the current mid-price of 143p Daniel Thwaites is capitalised at GBP90 million. The shares trade on a historic multiple of 12.5 but with conditions in its markets expected to remain tough, combined with lower revenues due to sale of the Stafford, we are not drawn to the shares on the basis of its operations. However, the company is trading at a massive 66% discount to net assets of GBP263.5 million as at its half-year end, which makes the shares a buy.

[davebowler] 23/11/2009 10:39

Now at 60% discount to NAV... from unquoted analyst;
20 November 2009

Daniel Thwaites - In Good Spirits

Lancashire based pub and hotel operator Daniel Thwaites has released its results for the six months to 30th September 2009, the highlight of which was the disposal of the upmarket Stafford Hotel for £77.5 million. The sale was completed at an impressive 28.7 times operating profits to the Britannia Hospitality Limited, with the proceeds used to pay down debt. However, while a £14.1 million profit booked on the sale of the Stafford provided a huge boost to the profit and loss account (earnings per share rose by 290% to 26.5p), underlying trading at the firm continued to be difficult.

At the operating level profits fell by 24% to £6.9 million in the half, on turnover which was 8.1% lower at £76.2 million. Excluding the gain on disposal pre-tax profits plunged by 37.5% to £3.5 million. However, the results were strong enough for the company to maintain its 1.1p interim dividend.

Across the divisions, operating profits from the brewery operations remained unchanged at £4.1 million as trading continued to be affected by supermarket alcohol offers and other lower-priced competition. Like- for-like volumes fell by 7% and the firm remains cautious on its outlook into its 2010 financial year. On a brighter note, reduced operating costs are expected to be realised due to falling utility and raw material prices, along with changes introduced through last year's restructuring programme.

Trading in the hotel division was said to be "extremely tough", with contributions to group profits falling by 24% to £4.1 million as consumers and corporate customers tightened their budgets. While the company has noticed a reduced rate of decline in trading it is still cautious about the outlook for trading in the unit.

Despite the tough trading conditions Thwaites' balance sheet was much improved at the period end, mainly as a result of the Stafford disposal. Net current assets stood at £6 million, with £6.6 million in cash holdings, versus net current liabilities of £29.7 million at the 2009 year-end. Net debt fell to £53.4 million from £136 million at 31st March 2009 but since no cash flow statement was released with the accounts it is difficult to see exactly how much of the reduction is down movements in working capital. Net interest payments on liabilities were covered 2.15 times by operating profits before the one-off profit. However, despite the fall in the debt pile the company says future interest payments are "unlikely to fall significantly" due to prior hedging arrangements. Thwaites' pension liability fell by 11.1% during the six months, to stand at £8.8 million at the period end.

At a mid-price of 185p Daniel Thwaites is capitalised at £116.6 million. The firm looks fully valued on a historic multiple of 16.2 and with conditions in its markets expected to remain tough, combined with lower revenues due to sale of the Stafford, we are not drawn to the shares on the basis of its operations. However, the company is trading at a circa 60% discount to net assets as at its half-year end, which makes the shares worthy of, at least, a hold.

[davebowler] 10/6/2009 11:08

Currently priced at c.50% discount to net asset value.