Fuller Smith & Turner Share Discussion Threads

[waldron] 12/4/2020 15:47

Turnover PS 1,331.85 p
Pre-Tax Profit PS 80.63 p
Retained Profit PS 25.95 p
Cash PS 33.98 p
Net Cash PS -314.81 p
Net Tangible Asset Value PS * 929.30 p
Net Asset Value PS 1,045.77 p
Spread 20.00 (2.56%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

[panshanger1] 23/3/2020 13:51

Reassuring update today but looks like dividend will be cut in due course Article in FT today about pubs in general This looks the best of the bunch

[essentialinvestor] 09/3/2020 12:25

Well that's answered my question! ).

Poor timing, I've traded a few and added today, got down to 7.19,
very few available near those or levels, at least today. Average holding price £8.03 atm.

[essentialinvestor] 03/3/2020 10:17

Beginning to look interesting?.

Added.

[brewery boy] 03/3/2020 02:04

"We have had some cash back"... That's not very nice. We have had about 12 per cent of value of our shareholding on top of the regularly increasing dividends.

[brewery boy] 03/3/2020 01:57

Because it is more profitable to be a pubco.

[essentialinvestor] 17/2/2020 11:46

Hi zeppo, lucky son, eh!.

Problem with Young's is the % spread can be nasty.
Very conservatory rum though, which personally I like.

[zeppo] 13/2/2020 17:27

EssentialInvestor

A grim market scenario if that happens.

Regretfully out of Youngs some time ago to help my son into a housing start.

You can't do everything.

With FSTA, Shepherd Neame, and had a few Greene King but they have been taken out.

[essentialinvestor] 13/2/2020 16:41

If the virus breaks out in London and we get some panic, FSTA might be worth a look.


Share price may trade Under 8.50 ish in that scenario imv.

[essentialinvestor] 12/2/2020 10:36

Youngs v FSTA - any thoughts ?.

[jeffian] 11/2/2020 23:53

#201,

"Anyone want to join me in a takeover bid. We sell all the London properties, bank the money, and just keep making the beer."

Ironically, it turned out exactly the other way around! They stopped making the beer and kept the properties.

[zeppo] 11/2/2020 22:18

glenowen

Investing in London brewers because of their property freeholds was suggested to me some years ago.

We have had some cash back from the brewery site sale but generally very slow growth with this one.

[glenowen] 11/2/2020 21:17

“Solid” is the way I look at this investment. They aren’t going to pull up any trees, in terms of returns, but pretty low risk with that solid (that word again) bank of properties (mostly in the South East) behind them. So I won’t be getting rid of the shares anytime soon. Having said that, Wetherspoon has been a far better investment over the same period, despite the perennially low dividends. I will continue to hold both for the foreseeable future.

[essentialinvestor] 11/2/2020 15:57

Spotdog40 20 Jan '03 - 09:35

There seems to be only me and Fullers buying these shares.
Look at
1)the NAV vs share price
2)Continued profitability
3)Unique quality product-London Pride
4)Diverse business: Brewery, Pubs,Hotels
5)Sensible dividend.
Is it a no-brainer?
Anyone want to join me in a takeover bid. We sell all the London properties, bank the money, and just keep making the beer.


I was just looking at the thread header. The share price was approx £1.80 a share at the time
of the post. Not a bad return in 20 years. Approx 550% plus 20 years of dividends on top.

[zeppo] 24/9/2019 11:25

Should be an EGM option on company's website.

For instruction on D shares we should use that site.

Csnnot find thst site.

[lukmanpatel] 10/6/2019 06:22

Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards

[mw8156] 26/1/2019 22:43

have to hope for a tax efficient capital return not a special dividend.

[konradpuss] 26/1/2019 09:09

Perhaps the board should be pressed to now have a valuation of their property after the disposal of the brewing interests?

A similar measure was pushed for at Mountview Estestes Plc (O.K. a different sector) however the board finally did it.

[muffinhead] 25/1/2019 17:53

Asahi Group gives 2% dividend and 3 times covered


£205 mill after costs of £45mill and keep the pension stuff... lol

Fullers made big mistake imo and becomes just another property/pub landlord play
Longer term Asahi will want to increase beer margins
Lets see where share goes after £1 distribution and final dividend
Only good aspect is the degearing of the balance sheet but where is management going next?

Share has been making a massive head and shoulders top over last 4 years despite buybacks. Todays management curveball is a good time to exit imo

[zeppo] 25/1/2019 10:29

Advised some time ago that London real estate ie. freeholds of pub sites underlines value.

zl

[eezymunny] 25/1/2019 09:26

EBITDA a useless measure for a pub group IMO as such a big depreciation charge, maintenance capex etc.

At 1200p market cap is c. £660m (I think) with all the share classes included, vs what will be about £35m adj PBT, or £28m PAT rough numbers? So a PE of c. 23?

Nice pubs, not sure I want to buy here :(

[chinese investor] 25/1/2019 08:36

All Good !

[henley2] 25/1/2019 08:26

EV/EBITDA post deal only 5x vs 7x pre-disposal, so would expect minimum 40% rise in share price.