Greene King Share Discussion Threads

[gyau] 02/7/2009 07:46

a final dividend payment of 15.1p per share


should have bought more yesterday :-)

[timbo003] 02/7/2009 07:42

Reassuring results and a nice divi to come (15.1p/share, they go ex-divi on August 12th)

note to self: must buy some more GNK at these levels after my IPR, SSE, NG and UU divis are paid into my ISA

[wad collector] 18/6/2009 12:35

last week

Since raising £207.5m through a rights issue in late April brewer and pub chain owner Greene King has wasted little time in spending a large chunk of it to good effect, and this has not been reflected in the share price, reckons broker KBC Peel Hunt.

The company announced today it has acquired 11 high quality managed pubs from Punch Taverns (LSE: PUB.L - news) for £30.4m in a deal which broker Panmure Gordon estimates will boost earnings per share by around 1.5%, while KBC Peel Hunt puts the expected 2010 earnings improvement slightly lower at 1%.

KBC Peel Hunt says there is no shortage of cheap pubs and expects Greene King to carry on buying, while it will also continue to buy back discounted bonds 'on an opportunistic basis.'

KBC has a 'hold' rating for Greene King, but with a 470p target price it believes there is a buying opportunity with the shares currently languishing at around 420p.

[glenowen] 17/6/2009 23:03

Slump over the last few days looks to have been caused by the Punch cash raising exercise and sale by institutional investor today. The shares are now at very attractive levels, with the upcoming final dividend of 15p representing a yield of 4% by itself.

Might be time to dip my toes in again...

[incorrigible] 17/6/2009 20:43

holdings 7% crossed by Vidacos Nominees - is that sig?

[hotfinance14] 17/6/2009 15:59

GNK charge £3 for a pint of lager now...they have killed there own pubs.

[incorrigible] 17/6/2009 14:14

prelims out 2 Jul - hope they're ok

[incorrigible] 17/6/2009 14:13

even cheaper now - i topped up

[kbass] 16/6/2009 10:17

haha! right now, I am in Saudi Arabia, BST +2 .... I see Abbot in my dreams.

[incorrigible] 16/6/2009 10:15

early lunch lol!!

[kbass] 16/6/2009 10:10

Nope, missed it - I was out at lunch and the order hit when the "holding" account was a few squibs short. This pm might crack it too ...

[incorrigible] 16/6/2009 09:20

there's your offer - did you take it?

[incorrigible] 16/6/2009 08:32

here it comes?

[kbass] 16/6/2009 08:08

395 .... but watching ...

[incorrigible] 16/6/2009 06:32

what's your price kbass?

[kbass] 16/6/2009 04:12

I have a limit buy order in place and hope to be back with you soon ..

[paulish99] 09/6/2009 08:21

Press Releases
Acquisition of Eleven High Quality Pubs
09 Jun 2009 - Greene King today announces an agreement to acquire eleven, high quality, freehold, managed pubs from Punch Taverns PLC ('Punch Taverns'), for a total consideration of £30.4 million. The consideration will be financed from the funds raised by the Company's successful recent rights issue and is expected to complete on 01 July 2009. For the financial year ended 23 August 2008, these pubs generated earnings before interest and tax of £3.55m and the acquisition is expected to be earnings enhancing in the first full year.

Seven of the pubs are in London and include the Bunch of Grapes in Knightsbridge and St. Margaret's in Twickenham, whilst four are in Scotland including the Burnbrae in Bearsden, near Glasgow.

Commenting on the transaction, Rooney Anand, Chief Executive of Greene King said:

'I am really pleased we have been able to acquire these high quality assets, further strengthening our presence in two key geographies for us. They also match the criteria we set out when announcing our recent rights issue. They will be seamlessly integrated into our Retail operations in both England and Scotland and we look forward to operating these pubs successfully over the coming years'.

For further information:

Greene King plc

Rooney Anand, Chief Executive
Ian Bull, Group Finance Director
Tel: [phone]

Financial Dynamics
Ben Foster
Tel: [phone]

[husbod] 29/5/2009 10:23

I think we can now expect the share price to drop as the rump of the rights issues shares are fed into the market although maybe the underwriters will hold onto some as a good investment.

[timbo003] 29/5/2009 07:13

93% take up of the rights, that's pretty good!



Now go spend the proceeds on some bargains, they could start with Capital Pub Company (CPUB), [yes I admit to having a vested interest, I own a few shares in CPUB as well as GNK]

[husbod] 28/5/2009 14:55

glenowen - we must be long lost brothers - all good walks must end up at a good pub!

Looks as if the shorters could be being burnt - quel domage.

[glenowen] 28/5/2009 12:35

Husbod - I enjoyed several very nice pints of Wye Valley Bitter straight from the barrell in a place called The Inn On The Wye - tasted particularly good after a long hike in the Forest of Dean!

[glenowen] 27/5/2009 23:00

Stayed in a Greene King hotel in Ross on Wye at the weekend ("Old English Inns" brand). Standard of accomodation and food was excellent, hotel was packed and the bar was heaving in the evenings. Okay, it was a Bank Holiday weekend and the weather was good, but a couple of different locals told me it is a far better and more popular place than it was before GNK took over a few years ago.

Anecdotal evidence only, perhaps, but from what I can see standards at GNK are very high.`