Greene King Share Discussion Threads

[wad collector] 08/7/2010 13:24

I only ever stay at The Ritz.

[devymaster] 06/7/2010 09:54

Still my favorite in the UK mainly for it's focus on increasing the dividend. I would imagine that the good weather is fantastic for them - many of their managed houses/hotels are in coastal locations with a large number in hot spots such as Poole/Bournemouth. Conservatively I would expect these houses to be running 20% over their sales budgets for the year, and along with their tight controls on variable costs this to transfer to the bottom line. Bedroom sales in particular generate great returns and it is nice to hear that they are investing in these businesses after having turned around an underperforming Hungary Horse division in the past few years.

I was also interested to see that they aim to increase the number of managed houses quite substancially. Hopefully this will mean they move into the south east (particular Kent) for my benefit, since there is a dearth of decent eating houses here.

If anyone wants to have a look at the current focus on managed houses I would recommend a visit to the Fox & Hounds at Wimbourne in Dorset. I visited both before and after the recent refurbishment and it has been transformed. From speaking to the management on site it was the test site for it's refurbishment programme for the managed food division.

Devymaster

[timbo003] 06/7/2010 09:13

From today's Telegraph:

[timbo003] 03/7/2010 08:52

From today's Telegraph:

On the mid-cap index, Greene King put on 20.2 to 415.2p as Citigroup gave the company a push on valuation grounds. James Ainley, an analyst at Citigroup, said the stock is "too cheap".

[timbo003] 01/7/2010 09:46

Bought a few more this morning (just 300 shares, recycling divis from the ISA, so I now hold 7K shares), excellent results, what city scribblers do not seem to understand, is that for many people (like myself), going down the pub is not discretionary spend, it is mandatory, so forget all this rubbish about how a double dip recession will be very bad for business.

[milacs] 01/7/2010 08:31

Results as expected.

Under normal circumstances I would expect the price to rise to a price of at least 580p.

However these are not normal circumstances and I believe we are in for the feared double dip.

M

[mr.oz] 29/6/2010 20:10

ALTIUM HAVE BUY - TP,505p

[timbo003] 22/6/2010 14:24

Good budget for pub cos IMO, no increase in duty (phew!), don't mind the 2.5% increase in VAT, I doubt if that will effect pub spend that much (I don't consider pub spend as discretionary, it's mandatory!)

Good to see that better paid public sector workers are going to have a 2 year pay freeze, it's about time they shared some of the pain.

[mr.oz] 20/6/2010 09:42

big earner today

[mr.oz] 18/6/2010 15:23

Interesting situation earlier with options closing
411.4p for 273,105 UT trade
Auction occurred , I think between 490.8 and 399.1 ...

[mr.oz] 11/6/2010 16:48

bought some today




These pub restaurants are highly attractive, food-led, destination sites in Aberdeen, Northampton and Nottingham, and meet the strict strategic and financial criteria set out at the time of the rights issue [in April]. We expect, following targeted capital investment and operational synergies from integration into Greene King, that these sites will return to more normalised historic trading levels


Seymour Pierce analyst Hugh-Guy Lorriman said:

Greene King advises that the underlying trading levels of these units will improve post acquisition. The four units make £0.34m of EBITDA. Greene King is suggesting that it will move them to around £0.76m of EBITDA – nearly double the level of current profits.

Greene King has a history of buying quite dear but making the acquisitions work at the level of trading improvement (n.b. acquisition of Belhaven). Today's acquisition fits this story and we are confident it will succeed in its turnaround. Greene King is an opportunistic acquirer. Punch continues to wind down and the level of profit of these units compared with where Greene King thinks they should be further backs up the negative underlying trading story in the Punch managed houses division.

Greene King has been dragged down by recent trading bad news from the like of JD Wetherspoon. It is now looking like a value play, and with some of the best returns in the industry and the strongest balance sheet of the larger players the stock is looking attractive.




London pubs lift Fullers to record earnings

By Philip Stafford

Published: June 11 2010 10:26 | Last updated: June 11 2010 10:26

Fuller, Smith & Turner, the London-based brewer, topped analysts's expectations as it reported record results and said trading remained solid in the last two months.

[jon827] 11/6/2010 13:17

True, my idea of long time is a month, im just noseying around today cus I notice the rns's this morning imo jdw is the long-term winner :-)

[jeffian] 11/6/2010 11:19

LOL! It doesn't feel like it to the longer-term investor!

[jon827] 11/6/2010 11:06

pub wins :-)

[jeffian] 11/6/2010 10:45

"there must be a winner and a loser in this deal!"

Not necessarily - they both have different fish to fry. For GNK, the plus point is that they are able to cherry-pick quality pubs at a reasonable price; for PUB they need to be making disposals to pay down debt and there is relief that they are achieving Book Values.

[stevemarkus] 11/6/2010 10:06

Might even be due to market sentiment and the fact they've both been hammered for some time.

Steve.

[timbo003] 11/6/2010 08:45

"don't under stand why PUB and GNK are both trading up"

The Fullers results perhaps?

[jon827] 11/6/2010 08:30

Yer I saw that news this morning, don't under stand why PUB and GNK are both trading up, there must be a winner and a loser in this deal!

[timbo003] 11/6/2010 07:33

Another pubs aquisition (from Punch) announced today, also I see Fullers results are out this morning.



They look pretty good to me, could boost the sector today.

[milacs] 25/5/2010 11:21

jeffian

And who do we blame for this calamitous event.

Of course our political pundits blame the North Koreans.

I think the reason lies closer to home.



M

[jeffian] 25/5/2010 10:48

It's hardly specific to this sector, milacs. Everything being hammered at the moment.

[milacs] 25/5/2010 10:09

Wonder if these compaanies are harbingers of the countries economy.

All three have fallen massively over the past month even though their business activity seems to be normal.

Perhaps the remainder of country will follow.

I know this sounds very gloomy but that's the way I feel.

M