Share Name Share Symbol Market Type Share ISIN Share Description
EI Grp LSE:EIG London Ordinary Share GB00B1L8B624 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.80p +1.32% 138.20p 138.00p 138.40p 138.60p 135.20p 136.20p 562,627 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 648.0 58.0 11.2 12.3 648.02

EI Grp Share Discussion Threads

Showing 1 to 23 of 25 messages
Chat Pages: 1
NAV_Mike, Jeffian Spot on. Interested in your comments about the institutions. I cannot understand why they just stand by and do nothing to realise any value out of this company. I suppose they have longer timescales than us mortals. It really is time for management to show a little appreciation to the shareholders. Either sell up or, if they really are determined to continue trading, then let's see a dividend or debt reduction. I don't mind which, but not another ludicrous buyback.
The very point I have made to them at several past AGM's! The expressions at 'top table' were very much how you would expect a turkey to look if Santa had walked in with a suspiciously axe-shaped present. This '5-year strategy' has been a nonsense from the start, although a lot of it is probably what had to be done to keep the company going, but that is the big question - keep it going for what? It's obviously in the interests of the management and staff to keep it going but if they can't produce growth in revenues, profits and dividends (and the 5-year plan showed from the outset that they wouldn't) and reward shareholders with dividends, returns of capital or an increasing share price, then the answer is an orderly wind-down and return of capital to shareholders. At the moment, all surplus cash is either being 'reinvested in the business' or 'returned to shareholders' (Ha!) via share buybacks. In either case, that means that every £1 realised in profit or as a result of disposals is being turned into 40p in the blink of an eye. Last year I tried to interest some of the largest shareholders in taking a more aggressive position but, although I was surprised that they were prepared to engage with me at all, the general response was that they were happy with the way things are going. Looking at the share chart, it's hard to see how that can be (although some may have holdings acquired at much lower levels) and the 5-year plan shows that revenues and earnings are likely to remain flat for the next 2 years as any improvement at individual site level will be offset by the continuing disposal programme.
Solid set of results, and the discount to NAV is staggering Begs the question, why not sell up and return cash to shareholders? :)
How times have changed, eh? Once a FTSE100 stock, results don't even rate a mention in the press, nor even listed in 'market movers' in the daily Market Reports despite a good move up. How are the mighty fallen. Actually, results received quite well but I remain underwhelmed by a 5-year strategy that targets earnings/profits at the end of the period broadly similar to those at the beginning! Yes, those earnings represent greater income from a reduced estate, but that is only achieved by blowing (sorry 're-investing') all the proceeds of the pub sales. 'Surplus' cash of c£20m/year (enough for a 4p dividend) is being 'returned to shareholders' via (yet another) share buyback. I feel blessed. Not.
Good grief. What on earth happened just after 2pm - the volume went mad. Has someone seen the results early?!
15:56 I wish!
You can change the name but ... 31 March 2017 Current assets minus TOTAL liabilities = -2488m or -516p per share ! price now 126.5p Number of shares 482m Equity Market cap 610m
I don't think Brexit has anything to do with it, but I imagine Heineken would run into regulatory problems if they tried to take Ei as well as Punch. If the Government didn't like having two monster pubco's, they'd like one enormous one even less! Having watched the Interims presentation, I must say that I'm depressed. A sense of smug self-satisfaction about 'delivering their strategy' seems totally inappropriate when they again show a slide (on which I remarked last year) indicating that - despite selling 1000 pubs and raising £300m over the period - 'Site EBITDA' (that is, income generated at pub level before any central overheads are taken off) over the 5-year period remains all but flat (£366m up to £375m; around 2%). In the meantime, they've blown £25m of our money 'refinancing' part of the 2018 Bond by paying bondholders a stonking premium then re-issuing new bonds at around the same yield, over 6%. Burford Capital have just raised £175m at 5% unsecured and it was oversubscribed! What are we up to? Needless to say, they'll take credit for the recent increase in share price (still less than 50% of stated NAV) but a glimpse at the chart shows that it can be pinpointed to the announcement of the Punch takeover bid on 14 December last. Unless they change their tune and start genuinely returning value to shareholders in the form of a dividend, returns of capital or significant reductions of debt beyond the planned amortisation, then that remains our best hope too. Who could that be? No idea, I'm afraid.
Well Jeffian, looks like you were right about there not being any upside surprises (for long anyway). Probably should have sold it. What do you think the chances of EIG being taken out are, and by whom? - Brexit probably doesn't help attract the likes of Heineken I suppose?
Looking unusually lively at the moment. First time we've been decisively through 140 since 2013/14. Could be in anticipation of interim results on 16/5 but I'm not expecting any surprises on the upside as the business plan through to 2020 envisages flat earnings as improved 'quality of earnings' from conversions to Managed Houses or transfer to commercial tenancies is offset by the reduction in the number of pubs as a result of sales (the proceeds of which are 'reinvested' in the estate rather than used to reduce debt or returned to shareholders). Even at this level, the share price is still only around 50% of stated NAV and I don't understand how they intend to realise that value for shareholders unless someone comes and has a pop at them a la Punch. The sooner the better, I say.
First! So, Punch Taverns-style takeover rumours, reasons for this afternoon's drop, hit us with your chat!
"The Company is changing its name from Enterprise Inns plc to Ei Group plc. This reflects the transformation of the Company's business from a single, predominantly leased and tenanted operation, to a portfolio of businesses comprising a variety of operating models and trading styles designed to optimise the value derived from the asset base. It is expected that with effect from 8.00 am on 10 February 2017 the Company's shares will trade under its new name of Ei Group plc and the Company's London Stock Exchange Tradable Instrument Display Mnemonic will change to "EIG". The ISIN and SEDOL numbers for the Company's shares will remain unchanged. The Company's website address will be " Anyone interested in the history will find the former thread here -
a bit like the UPS thread, people could bring shares to other people's attention on this thread. Like the 'north face of the Eiger' the prerequisite would be an inexorable rise, eg an upward (largely unbroken) gradient of greater than 70 to 80% angle over the last 1 week to 4 weeks think, in the past, of wnl or min. to get the ball rolling, consider grp
I understand there was a report in yesterday's Mail that the FSA are going to abandon their enquiry into the "Splits" saga. If this is true, EIG is a good bet, because it implies that they could pay their withheld dividend, and thus the share price would surely rise. However - the Telegraph this morning says just that the enquiry is to be postponed, in which case the jam continues to be tomorrow rather than next week, as it were.(In My Opinion etc)
OK - we all know about the "splits" debacle but, are these seriously undervalued or what? DYOR Regards, 29palms
Having sold their (loss-making) UT business earlier this year, they are now back making good profits and have about £11 million in cash. Price rose dramatically over the last two days to about 102p. Although no divs for the time being pending outcome of splits enquiry, my guess is that they will be paid within a year or so, so I reckon the shares are a buy.
Spread is 50-70p. No wonder there are no trades!!
Just found it
Up 23% today, anyone know why ?
Yes, agree with M.T. here. Good, solid company that if you look back in a year will almost certainly be higher than it is now. Don't hold since they're not speculative enough for me, but certainly would if I had enough cash to make having a 'safe' portfolio worthwhile.
Thanks for the reply, they recently seem to shoot up on very little buying and drop on very little selling, just wondered why.Wondered if Ian Henderson had agreed to be taken over as they are one of only a few independent fund managers left. Cheers
If you bought them that recently (and presumably researched them beforehand) why ask? Just look away for a year or two. No need to watch daily/weekly movements on this one. Profittakers who saw them hit 1000p knocked them briefly back a bit as expected. Rose 59% in 2000 and ninefold over 3 yrs. A decent core holding. Got some within my PEP and quite happy to leave them there while I get on with other stuff.
Bought 500 of these about three weeks ago, off late they seem to be yo-yo-ing about could anyone throw a little light. They are growing at around 40% pa.
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