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Share Name Share Symbol Market Type Share ISIN Share Description
Fuller Smith & Turner Plc LSE:FSTA London Ordinary Share GB00B1YPC344 'A' ORD 40P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -14.00 -2.21% 620.00 620.00 628.00 620.00 618.00 618.00 67,781 16:28:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 253.8 11.5 11.6 53.5 241

Fuller Smith & Turner Share Discussion Threads

Showing 276 to 298 of 300 messages
Chat Pages: 12  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
13/6/2022
17:38
Yes the shares could get cheaper but with a NAV of £13.80 based on directors valuation of property & this includes a pro-rata valuation of unlisted shares this is almost an undervalued property company with a pub business attached!I expect in spite of challenges that the pub sector faces from wage increases,food energy prices etc going forward I expect improved profits,these figures are looking backward to a still covid affected trading period.I have further added to my holding.
1tx
09/6/2022
14:33
Fuller, Smith & Turner (FSTA) posted FY results for the 52 weeks to 26 March 2022 this morning confirming a return to profitable growth with a strengthened balance sheet. Revenues recovered to £253.8 million despite being significantly impacted during the year by coronavirus related closures, restrictions and working from home guidance. Adjusted profit before tax returned to growth at £7.2 million. Net debt excluding leases was down to £131.9 million. Management announced a return to a progressive dividend policy with a proposed final dividend of 7.41p in addition to the interim dividend of 3.90p paid earlier in the year. Valuation is reasonable, forward PE ratio at 15.4x is top half for the sector. There is also further business recovery potential and share price recovery potential from COVID. But share price lacks momentum and is still in a 14 month correction. One to monitor for now... ...from WealthOracleAM https://wealthoracle.co.uk/detailed-result-full/FSTA/470
km18
09/6/2022
13:20
well there we have it, i thought £900m conservatively, but FSTA have put in their results that their freehold estate worth 'just shy of £1000m'. NAV is £13.80 per share. share price hasn't moved which is interesting.
m_kerr
14/4/2022
13:24
Re earlier comments on share structure.There are approx 61 million shares in issue across listed A shares & unlisted B and C shares when working out earnings,dividend & NAV per share.A & C shares both have a par value of 40p per share;B shares have a par value of 4p per share and count as one tenth of the value of A & C shares for purposes of working out earnings dividend & NAV but have one vote per share like A & C shares so give the holders effective voting control of the company.
1tx
04/4/2022
18:39
a point missed entirely by me was that the customers of FSTA are much better off than average which should bode well for sales. as investors it's easy to forget that in large areas of the UK that are poorer than average (south wales, north england etc), discretionary income is being wiped out as the cost of living rises faster than pensions, benefits and wages. i still think many of their pubs in central london aren't viable any more, but i doubt they'd have any problem selling the freeholds which they own 90% of at premium prices.
m_kerr
08/3/2022
11:30
FWIW if you want exposure to this sector, YNGN may be the best option, YNGN as opposed to YNGA. Much better value to be had in the Youngs non voting shares, YNGA is too highly rated.
essentialinvestor
07/3/2022
18:51
mk, remember when looking at the A shares they are only onc class of equity issued by the company. So basing a valuation nf these alone only tells part of the story - you may already be aware. Company Sec can give you details if you want an exact clarification.
essentialinvestor
07/3/2022
18:07
this is really, really cheap now IMV. commercial estate agents are reporting pub freehold pricing is back to pre pandemic levels, yet this is priced barely higher than pre vaccine levels. the freeholds here are worth IMV around £900m conservatively (if valued in line with city pub group and young's), and are likely to be worth much more than this. the company need to undertake regular valuations of their estate, if they did then the share price would probably double. there's no excuse really given that these are property companies.
m_kerr
07/3/2022
14:38
Youngs looks the better managed group?, respective recent result appear to highlight this.
essentialinvestor
25/2/2022
14:33
marvel, moat welcome - Ian knows the sector better than me. Watching JDW fwiw but not currently holding - the next set of sector updates look key with it being post any restrictions.
essentialinvestor
23/2/2022
08:57
Jeffian/Essential Investor...appreciate your comments and clearly better knowledge of the share classes I had not picked up on due to my own inadequate superficial research. Many thanks.
marvelman
22/2/2022
14:38
Ian, tbf it's a complicated structure with the multiple classes of shares. Not that impressed with their recent trading updates, perhaps summer proves to be better.
essentialinvestor
21/2/2022
22:55
Well they may do, EI, but why click on the 'Financials' button on a website or turn to the market pages of newspapers when the statutorily verifiable information can only be obtained from a company's published report & accounts? I wouldn't trust any info that wasn't either in the accounts or issued via RNS.
jeffian
21/2/2022
19:13
I would always go to the company report & accounts as a source rather than websites like yahoo. I haven't got to grips with all the various classes of shares but the last published accounts indicate that 'family interests' own at least 54% of the 'B' shares and 64% of the 'C' shares, and those are only the declarable interests >3%, so there may be more holders beneath that level. I imagine that the 'families' still have enough to block any hostile approaches.
jeffian
17/2/2022
14:29
According to the article below, the founding families don't appear to have a significant holding in the company. Not sure about the voting rights however. https://uk.news.yahoo.com/know-fuller-smith-turner-p-060012455.html
marvelman
16/2/2022
19:55
Given the founding families respective stakes that would be their decision. MAB and MARS are both exceeding pre covid revenue levels, from memory - not making a case to buy either of those due to debt levels.
essentialinvestor
16/2/2022
14:25
First point.....takeover and asset stripped by predator Second point....Covid heavily skewed the last 2 years trading and will surely be less of an issue as confidence returns towards the new normality The first point is the main reason why I am here. My only concern however, and a big one, is the debt refinancing due in Feb 23.
marvelman
16/2/2022
14:07
Couple of points here. How could that asset value ever be realised?, Fullers have been at pains to suggest they are not a property company. BOD show no interest in going down that route. Secondly, and particularly allowing for inflation, those latest revenue figures are not so great.
essentialinvestor
09/2/2022
20:50
A real no brainer at this price. The property portfolio must be valued somewhere in the region of £1 billion. The market cap is currently £450m @ 700p, one could make the case for fair value @ 1400p. Fullers is cheap compared to Youngs and City Pub Company.
cockneytrader
08/2/2022
10:33
M_Kerr....very good analysis. You clearly have a financial mindset. I have just bought in on the back of the Questor article in the Telegraph today. Looks very undervalued as an asset and stands out a mile for a predator looking to asset strip whilst adding the better properties to its own portfolio. This is the only service business I have in my own portfolio given the current issues in the economy. Being an ex FD in a hotel group I believe I can see a bargain in this, Regards.
marvelman
23/12/2021
10:32
bounced up a bit from recent lows. market doesnt seem as concerned about omicron anymore.
m_kerr
15/12/2021
22:28
i've run some quick numbers here. property with a net book value of £532m (i understand the bulk has not been revalued since 1999), enterprise value including leases of about £600m (about £525m excluding lease liabilities). in addition, the recent rights issue was actually at a fair premium to the current share price (£8.30 v £6.60 now). this looks like potentially a very interesting investment. it is fully asset backed, at a materially cheaper valuation than young & co. and property prices are up many multiples of 1999 prices in london. the great thing about pubs from investors point of view is they are highly granular investments - you can sell them off one by one if you want to and have a wide pool of buyers. i expect that once lockdowns are over, liquidity will return to the market. property yields on quality london property are about 3-3.5%. i had to rejig my figures as the FT had it down as a market cap of £262m vs my own calc of £390m! anyone else get caught out by that?
m_kerr
24/11/2021
16:38
Most trades went through at 684 again today. bid/offer 682/684 is also a lot tighter than normal. Normally around a 20p spread
darrin1471
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