Marks And Spencer Share Price (MKS)

Share Name Share Symbol Market Type Share ISIN Share Description
Marks And Spencer Group Plc LSE:MKS London Ordinary Share GB0031274896 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -6.20 -3.38% 177.15 1,963,300 12:22:58
Bid Price Offer Price High Price Low Price Open Price
177.00 177.25 179.00 175.25 178.45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 10,377.30 84.60 2.10 84.4 3,455
Last Trade Time Trade Type Trade Size Trade Price Currency
12:22:25 AT 96 177.15 GBX
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Marks And Spencer (MKS) Latest News

Marks And Spencer News

Date Time Source Headline
20/2/202015:26UKREGMarks & Spencer Group PLC Holding(s) in Company
14/2/202013:40ALNCTOP NEWS: UK CMA Finds Tesco Stopping Rivals From Opening Stores
11/2/202008:37ALNCTOP NEWS: Marks & Spencer Poaches Greencore Finance Head Eoin Tonge
11/2/202007:06ALNCFAlliance News Flash Headline
11/2/202007:00UKREGMarks & Spencer Group PLC Directorate Change
05/2/202014:34ALNCM&S Names Former Dixons UK Boss Bickerstaffe As Strategy Chief
05/2/202013:22UKREGMarks & Spencer Group PLC Directorate Change
03/2/202009:00UKREGMarks & Spencer Group PLC Total Voting Rights
31/1/202016:25UKREGMarks & Spencer Group PLC Holding(s) in Company
28/1/202010:31UKREGMarks & Spencer Group PLC Director/PDMR Shareholding
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Marks And Spencer (MKS) Discussions and Chat

Marks And Spencer Forums and Chat

Date Time Title Posts
24/2/202010:50Marks & Sparks, chat and charts1,990
23/2/202015:25MKS8,869
20/2/202010:15Archie Norman bringing home the M&S bacon370
17/2/202010:25JUST Marks And Spencer (MKS)356
09/1/202013:21M&S about to go up434

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Marks And Spencer (MKS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
12:22:25177.1596170.06AT
12:22:25177.155761,020.38AT
12:22:24177.101,9853,515.44AT
12:22:24177.109001,593.90AT
12:22:24177.058221,455.35AT
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Marks And Spencer (MKS) Top Chat Posts

DateSubject
24/2/2020
08:20		Marks And Spencer Daily Update: Marks And Spencer Group Plc is listed in the General Retailers sector of the London Stock Exchange with ticker MKS. The last closing price for Marks And Spencer was 183.35p.
Marks And Spencer Group Plc has a 4 week average price of 174.70p and a 12 week average price of 174.70p.
The 1 year high share price is 306.20p while the 1 year low share price is currently 161.35p.
There are currently 1,950,059,808 shares in issue and the average daily traded volume is 5,728,832 shares. The market capitalisation of Marks And Spencer Group Plc is £3,451,605,860.16.
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23/1/2020
08:45		ariane: The Marks & Spencer share price is down 12% in the last month. Would I buy? Andy Ross | Thursday, 23rd January, 2020 | More on: MKS Road signs rerouting traffic Image source: Getty Images. The stats prove that retailer Marks & Spencer (LSE: MKS) was one of the worst performing shares of 2019. The shares fell by 20% last year, when the FTSE 250 of which it’s now a part moved strongly in the opposite direction. This shows that investors have serious concerns about the group, and understandably so. Poor sales continue It’s unlikely the share price will revive any time soon. Sales over Christmas were hampered by poor stock management, with Marks & Spencer stocking skinny jeans and the wrong sizes. It’s far from the first time M&S has had these types of issues. It didn’t have enough stock to meet demand for a range promoted by Holly Willoughby, leading to CEO Steve Rowe describing the stock levels as the worst “I have ever seen in my life”. During the recent third quarter, the troubled clothing & home division suffered a 3.7% drop in total revenue, while the unit’s like-for-like revenue slumped 1.7%. This gloomy picture follows full-year results to March 30 that showed M&S’s overall profit before tax declined for the third straight year, dropping 9.9% year-on-year to £523.2m. Group revenues also dropped 3% to £10.37bn. This included a 1.8% decline in UK sales, with clothing & home like-for-like sales down by 1.6%. Clearly M&S is struggling to grow as it battles unsuccessfully to attract and retain new loyal shoppers and react to the decline of the high street. It’s a long time since investors have had any hope of seeing annual growth at the retailer. Although there is one part of the business that is doing better. Food is the lifesaver While clothing is letting the side down, food is doing better. Like-for-like revenue growth in the third quarter was 1.4% in the division, which led to a 0.2% increase overall in group UK like-for-like revenue. Although profitability was hit by higher wastage and profit margins will be at the bottom end of analysts’ expectations, some are reasonably upbeat. “In a tough market, these figures signal a much-improved performance from the retailer and could signal the green shoots of recovery in the ongoing transformation of the business,” said Retail Economics chief executive Richard Lim. Yet while food may be a silver lining, this is just a single quarter of sales and isn’t on its own necessarily a sign of better things to come. I think even with a P/E under eight, the shares are still too risky to buy. M&S has been chucked out of the elite FTSE 100, slashed its dividend, had to launch a rights issue (sell more shares) just to get to just this point. And there’s plenty more potential for bad news. M&S is trying to revive its fortunes via an expensive tie-up with Ocado, focusing its marketing on pricing, stocking vegan products and trying to get shoppers to do a larger weekly shop there. All good ideas, but I’m not convinced it’ll be enough. While M&S might provides undeniably appealing food to Britain’s consumers, the share price is distinctly less tasty and I for one will be going nowhere near it. A top stock with enormous growth potential Savvy investors like you won’t want to miss out on this timely opportunity… Here’s your chance to discover exactly what has got our Motley Fool UK analyst all fired up about this ‘pure-playR17; online business. Not only does this company enjoy a dominant market-leading position… But its capital-light, highly scalable business model has been helping it deliver consistently high sales, astounding near-70% margins, and rising shareholder returns … in fact, in 2019 alone it returned a whopping £151.1m to shareholders in dividends and buybacks! And here’s the really exciting part… We think now could be the perfect time for you to start building your own stake in this exceptional business—especially given the two potentially lucrative expansion opportunities on the horizon that our analyst has highlighted. Click here to claim your copy of this special report now — and we’ll tell you the name of this Top Growth Stock… free of charge! Andy Ross has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
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09/1/2020
12:01		florenceorbis: Christmas shoppers hungry for festive treats help M&S to sell £700m more food than clothes but shares fall as 'one-off' problems dent recovery M&S said it had seen a 'standout' performance in food but suffered problems Retailer said margins for the year were now expected to be 'at the lower end' M&S shares have risen sharply since autumn but fell 9% in early trading today By Jane Denton For Thisismoney Published: 09:39 GMT, 9 January 2020 | Updated: 11:03 GMT, 9 January 2020 e-mail 8 View comments Marks & Spencer sold almost £700million more food in the run-up to Christmas than clothing and homeware, it revealed today. The High Street stalwart, which is battling to win over shoppers at its bricks-and-mortar stores and online shop, said that a 'standout' performance in food sales was tempered by 'one-off' struggles elsewhere. Problems with food waste, menswear and gift lines hampered Marks & Spencer over the crucial Christmas period, the retailer admitted. Issues: Problems with food waste, menswear and gift lines hampered results at M&S +4 Issues: Problems with food waste, menswear and gift lines hampered results at M&S Chief executive Steve Rowe said: 'The food business continued to outperform the market, and clothing and home had a strong start to the quarter, albeit this was followed by a challenging trading environment in the lead-up to Christmas.' Marks & Spencer's food arm remains a hit with shoppers, with sales of £1.7billion outstripping the traditional clothing and home business by almost £700million over three months. But Mr Rowe added that 'disappointing one-off issues' such as waste in the food business and the performance of its gifts range 'held us back from delivering a stronger result.' RELATED ARTICLES Previous 1 Next M&S poaches food boss from rival Sainsbury's as it ramps up... Ocado vows cheaper and better food than it supplies from... M&S is shrinking flagship stores... fancy moving in on the... M&S plunders Tesco aisles for clothes boss: Richard Price,... Share this article Share HOW THIS IS MONEY CAN HELP Marks & Spencer share price and data available here Overall UK like-for-like revenue at M&S rose by 0.2 per cent to £2.8billion in the 13 weeks to 28 December. Food sales climbed 1.4 per cent, while sales in the retailer's clothing and home division fell by 2.7 per cent to £1billion but fared better than previously. Total group revenue slipped 0.7 per cent to £3.02billion and M&S said that while its outlook for the year remains unchanged, its margins were now expected 'to be around the lower end of guidance'. This led to the FTSE 250-listed retailer falling sharply in early morning stock market trading, with M&S shares down 9 per cent to 199p at 11am. A year ago, the retailer's share price was hovering at around the 276p mark, but before today it had risen sharply from lows at the end of September. M&S said it enjoyed a 'standout performance' in its food business over the two week Christmas period, with shoppers responding to 'sharper value and more relevant innovation'. M&S has been cutting the price of some of its staple products in a bid to win back customers and keep up with its rivals. In February last year, M&S unveiled its tie-up plans with the online-based and technology-driven supermarket Ocado. M&S products will start being sold via Ocado in September. Ocado has claimed its tie-up with M&S will deliver cheaper and better food than when supplied by Waitrose. Indulgence: Food lines at M&S fared well over the Christmas period, it's latest results show +4 Indulgence: Food lines at M&S fared well over the Christmas period, it's latest results show Marks, which has stores as far afield as Singapore, saw its international sales slip 2.3 per cent to £251million. On a call with reporters, Mr Rowe said that, although customers purchased a lot of M&S food, 'we bought more than we sold', but he promised that no food waste went to landfill. The retailer was demoted from the FTSE 100 index for the first time in its history last year. Its share price had risen over a third since the start of autumn as glimmers of hope for a recovery emerged. M&S set out on its latest 'transformation' plan shortly after retail veteran Archie Norman became chairman in 2017 to work alongside boss Steve Rowe, who has been with the company for 30 years and became its boss in 2016. Prior to today's update, analysts were forecasting a full year pre-tax profit of £464million, which would mark the fourth consecutive year of decline for the group. A decade ago, M&S made a profit of £1billion. Progress under Steve Rowe's transformation scheme has been made but M&S is still suffering in very tough retail industry conditions +4 Progress under Steve Rowe's transformation scheme has been made but M&S is still suffering in very tough retail industry conditions The view from the City The performance of M&S, particularly over Christmas, always generates a lot of conversation among City analysts and today is no different. Some are suggesting there are reasons to be positive, and others claiming the retailer has a long way to go. For Richard Lim, chief executive of Retail Economics, the latest figures from M&S appear to 'signal the green shoots of recovery in the ongoing transformation of the business.' But, Mr Lim added: 'The major disappointment came in the online business that barely showed any signs of meaningful growth. Integrating a seamless digital proposition remains the key challenge for the retailer.' To get into shape, Russ Mould, investment director at AJ Bell, thinks the retailer needs to sharpen up its act online. Mr Mould said: 'It must fix stock availability problems, reduce the size of its store estate, improve distribution capabilities, sharpen the online proposition and make sure the food joint venture with Ocado is perfectly executed.' Performance: Food sales at M&S rose to £1.7billion in the 13 week period to 28 December +4 Performance: Food sales at M&S rose to £1.7billion in the 13 week period to 28 December Meanwhile, Neil Wilson at Markets.com, said: 'Discounting is murderous and there are still a lot of issues to fix.' 'The problems at Clothing & Home are far from solved, although the rate of decline has eased from the 5.5 per cent like-for-like decline reported in November and Steve Rowe says the worst has been arrested. 'Staunching the bleeding is one thing but to move forward requires greater action. Online revenues rose a meagre 1.5 per cent, which is maddeningly slow and shows how far Marks has fallen behind competitors like Next. I 't seems to be down to Marks not taking part in Black Friday again and continued heavy discounting by competitors in December. 'By its own admission, the effort to shake up clothing and home has fallen behind.'
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06/9/2019
07:43		florenceorbis: motely fool Andy Ross | Friday, 6th September, 2019 | More on: MKS Road signs rerouting traffic Image source: Getty Images. The giant has been slain! After 35 years in the FTSE 100, one of its stalwarts, Marks and Spencer (LSE: MKS), is to be dropped from the index later this month. This marks a potentially critical moment in the company’s enduring decline. It will move into the FTSE 250 because of the huge fall in its market value, which has been driven by a falling share price. The shares have dropped by one-third in the last 12 months and by a staggering 54% over the past five years. What are the issues? The immediate issue for the share price is that being dropped from the FTSE 100 means some index trackers will be forced to drop it, which may depress the shares further. On top of this, there are more general fears around the future of retail and the high street. This does little to encourage investors into putting money into store-heavy retailers like M&S. The shape of retail is also changing with consumers seemingly preferring discounters that have been winning market share in recent years, especially in foods. As Kantar, one of the leading trackers of supermarket share shows, Aldi and Lidl have gained 1.1% and 0.9% market share respectively since the start of 2018. Kantar doesn’t track M&S, but using Waitrose as a proxy for upmarket groceries, it’s clear that market share has been lost at the upper end over the same timeframe as consumers are moving away from premium price food stores. Then there are the problems successive M&S CEOs haven’t been able to address. “There has been a decade-long complaint by investors and customers that it has failed to revamp its clothing lines, especially within womenswear, and lacks appeal for the younger generations,” said Helal Miah, from the Share Centre. This contrasts with the appeal of high street rival Primark and online competitors such as Boohoo. It says a lot about either the quality of the management, the company culture being too bureaucratic and resistant to change, or the ingrained nature of the problems that M&S can’t seem to get a grip on the problem – especially given how important clothing is to the group’s profits. My view In my view, the £750m deal with Ocado and the leadership of Archie Norman as Chairman of the business are potential red herrings. The former looks like too little too late and there are concerns M&S overpaid to get Ocado on board. The latter relies on the reputation and ability of one distinguished retail veteran to overcome the entrenched problems at the retailer. It seems unlikely that any individual has the ability to make such a difference. Both of these are positioned as positives for investors but I don’t think they compensate for the many issues that M&S faces. Although the shares may look cheap after the sharp share price fall, on this occasion I think that low price is understandable. M&S is no longer the revered brand it was and I think there’s little to stop the share price sinking further. I’d avoid.
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30/8/2019
07:14		grupo: Investomania Where next for Marks and Spencer’s share price? Could further falls be ahead for the Marks and Spencer Group Plc (LON:MKS) (MKS.L) share price? August 30, 2019 Robert Stephens, CFA Marks and Spencer (LON:MKS) It’s been a prolonged decline over the last few years for the Marks and Spencer Group Plc (LON:MKS) (MKS.L) share price. In fact, it has fallen so far that it is now expected to be relegated to the FTSE 250. While this is disappointing for the company’s investors, sometimes it takes a period of intense difficulties for a company to become emboldened to make the necessary changes to its business model in order to improve its financial performance. In my view, Marks and Spencer is now doing just that, but it is behind the curve when compared to its rivals. Over the years, I feel it has been left behind by changing consumer tastes. For instance, it has only recently signed a deal with Ocado to offer online grocery shopping in an era where all of its main rivals have been doing so for years. Further, I believe that its investment in its website and supply chain will help improve its outlook, but that many of its rivals have been making the required changes to become true omnichannel retailers for a number of years. Therefore, I believe that Marks and Spencer could continue to experience a challenging period. I’m not anticipating that its current strategy, in spite of being encouraging in my eyes, will have a dramatic impact on its sales or profitability in the short run. But, over the long term, I feel there is the potential for a recovery due to its loyal customer base and the quality of its offering. For me, though, there are more attractive opportunities in the FTSE 350 retail sector at the moment. There are businesses that are online-focused, or at least that have true omnichannel offerings, which I believe could outperform the Marks and Spencer’s share price in future months. Therefore, I’m cautious about the company’s stock price outlook after its recent decline.
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05/7/2019
08:48		la forge: Investomania H 4 undervalued shares? BP plc, Marks and Spencer Group Plc, British American Tobacco plc and Premier Oil PLC Do these stocks offer good value for money? BP plc (LON:BP) (BP.L), Marks and Spencer Group Plc (LON:MKS) (MKS.L), British American Tobacco plc (LON:BATS) (BATS.L) and Premier Oil PLC (LON:PMO) (PMO.L) July 5, 2019 Robert Stephens, CFA FTSE 100 British American Tobacco The valuations of shares in BP plc (LON:BP) (BP.L), Marks and Spencer Group Plc (LON:MKS) (MKS.L), British American Tobacco plc (LON:BATS) (BATS.L) and Premier Oil PLC (LON:PMO) (PMO.L) appear to be relatively low according to my research. BP, for instance, has a P/E ratio of around 11.5 at the moment. Although the oil price could move lower depending on how the world economy performs, I think that investors may have factored this into the company’s share price to at least some degree. With BP continuing to invest in its Upstream and Downstream operations, I feel that the company’s long-term prospects could be improving. Short-term volatility may remain high, though. Marks and Spencer is moving in the right direction in my opinion. Investment in online and in its supply chain could help it to become a more focused omnichannel retailer that may make it more competitive. The process of changing its business model, though, may take some time in my opinion. Therefore, I’m not expecting a fast-rising share price. A P/E ratio of 8 appeals to me, and could mean that Marks and Spencer has long-term recovery potential. British American Tobacco faces a challenging and uncertain period in my opinion, with it seeking to gradually transition towards reduced-risk products such as e-cigarettes. Although this seems to have hurt investor sentiment, I’m optimistic about the growth opportunities that next-generation products could provide. With British American Tobacco having a dividend yield of around 7.2%, I feel that it may offer an appealing risk to reward ratio for the long term. Premier Oil’s P/E ratio of around 4 suggests that investors are uncertain about its future prospects. With the oil price set to remain volatile, I think this is somewhat understandable. While Premier Oil may be riskier than some of its larger peers due in part to its relatively high debt levels, it has a disciplined stance on costs and is in the process of reducing leverage. Therefore, while its stock price may remain volatile, I think its potential rewards could be relatively high when compared to some of its FTSE 350 sector peers.
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28/5/2019
08:59		the grumpy old men: Marks & Spencer and easyJet poised for FTSE 100 exit. Time to buy? G A Chester | Tuesday, 28th May, 2019 | More on: EZJ MKS Marks & Spencer (LSE: MKS) and easyJet (LSE: EZJ) have just seven trading sessions left to save themselves from being dumped out of the FTSE 100 in the summer quarterly index review. According to my calculations, they’re currently the Footsie’s bottom-ranked constituents, and are set to be pushed out by FTSE 250 firms JD Sports Fashion and Aveva, which both stand poised for automatic promotion to the top index. Do I think now is a good time to snap up shares in any of these companies? Earnings multiples My colleagues have been almost universally bullish on JD Sports for many years — and continue to be impressed by the company’s blistering growth. At a share price of 618.8p (market cap £6bn), it trades on a forward price-to-earnings (P/E) ratio of 20. I see a good business, but a multiple that’s a bit too rich for my liking in the retail sector, and I rate it a ‘hold’. Software group Aveva just missed out on promotion in the last quarterly reshuffle, but its shares have continued to rise and now sit at 3,460p (market cap £5.6bn). I see this as another good business, but on a forward P/E of 36, I maintain my previous view that the sky-high earnings multiple makes it a stock to avoid. Meanwhile, low earnings multiples (and high dividend yields) at Marks & Spencer and easyJet, suggest potential value on offer. However, I believe only one of the two represents a great investment proposition. Green shoots (again) In its annual results last week, M&S’s management spoke of “good progress in restoring the basics,” signs of “green shoots,” and so on. However, we’ve heard this time and again over the past few decades from previous management teams and turnaround plans at the company. Sure, the current team has made a bold move in announcing a new joint venture with online grocer Ocado, but this strikes me as something of a ‘Hail Mary pass’, that is, a long shot. The price M&S is paying — up to £750m — is widely considered expensive. And long-suffering shareholders are being asked to cough up over £600m in a rights issue, as well as seeing their dividends slashed by 40%. I’ve been saying for years that if I owned the stock, I’d be happy to sell and buy into a business with a more promising outlook. I see no reason to change my view at a share price of 246.3p (market cap £4bn), with a forward P/E of 10 and prospective dividend yield of 4.5%. First-rate business While I see M&S as a structurally challenged company in a structurally challenged sector (and a value trap for investors), I’m far more optimistic about easyJet. I think there’s genuine value on offer at the budget airline, whose share price of 919p (market cap £3.6bn), gives a forward P/E of 8 and prospective dividend yield of 6.2%. Of course, for a company to be on such a cheap rating, investor sentiment has to be against it. In half-year results earlier this month, easyJet pointed to headwinds from “the ongoing negative impact of Brexit-related market uncertainty as well as a wider macroeconomic slowdown in Europe.” I see a proven first-rate business in a cyclical, rather than structurally challenged, industry. I reckon the valuation of the stock is attractive for long-term investors, and I rate it a ‘buy’.
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10/10/2018
17:22		countless: Found this on Stockopedia, which I think is excellent for information, graphs and finding shares, so thought I would share. It was written last trading update by Paul Scott, one of their best contributors I think:- Share price: 307p (up 5.2% yesterday, on results day) No. shares: 1,624.8m Market cap: £4,988m Results for 52 weeks ended 31 Mar 2018 It would take too long to comment on everything, so here are just some interesting points that I jotted down whilst reading the results. Revenue up slightly, 0.7%, to £10,622m Adjusted profit remarkably resilient, at £580.9m - down only 5.4% in a market where much of the competition is seriously struggling. Adjusted free cashflow is a stand out item, at £582.4m - remember this is after capex, so MKS remains a highly cash generative business. Huge adjustments though, covering various reorganisational costs, totalling £514.1m - so how you view these results depends on whether you accept the adjustments or not. Adjusted EPS of 27.8p = PER of 11.0 Net debt is £1.83bn - large, but I think MKS has a substantial freehold property portfolio. I would normally disregard debt that relates to freehold properties Property - the 2017 Annual Report shows "land & buildings" with a book value of £2,588m at 1 Apr 2017. The word "freehold" is not mentioned anywhere in the Annual Report. I've googled it, and this article from 2013 suggests that 65% of MKS's retail space was freehold. If anyone has more information on what MKS's freehold properties might be worth, then please post it in the comments below. MKS seems to be permanently reorganising, but the narrative with yesterday's results sounds impressive for its directness - admitting that many things are wrong with the business, but can be fixed. International profit has more than doubled to £135.2m, due to exiting from loss-making sites/countries, and forex benefits. That's an impressive improvement. I wonder what profit growth might be possible from overseas expansion? Store closures - this is being accelerated, and will result in 25% of the "legacy" clothing and home space being closed. Whilst brutal, this should considerably boost future profits, I imagine. It also means there will be less competition in many towns for mid-market rivals such as Next (LON:NXT) (my largest long position currently). Store closures will also free up working capital, so cashflow positive. A very interesting comment is made re closures; We have been encouraged by the proportion of sales transferred to nearby stores from those which have closed. That is very important. It means that a store closure not only eliminates the losses from the problem store, but it also boosts the profits of its neighbouring MKS store(s). Don't underestimate how positive that will be for profits. I remember in the 1990s, my former employer had 3 shops in Oxford. All of them were loss-making. When our CEO finally disposed of the 2 surplus stores, the 1 remaining store was a goldmine, as many of the customers from the other 2 shops started using the 1 remaining local shop. Therefore, I think that MKS's store closure programme could significantly boost its profits. Unfortunately though, I think it could also hollow out many town centres, where the presence of an MKS store is a big draw for older, affluent shoppers, who may simply stop going into town altogether, and order online instead? Dividend - held at 18.7p per share, with a statement saying this will be maintained. More importantly, the cashflows are perfectly adequate to fund this level of payout - a sustainable (I think) 6.1% yield - not bad! Cost-cutting - MKS has long been seen as a bloated, inefficient company. That is more-or-less confirmed by the refreshingly self-critical commentary alongside these results. The interesting angle on this, is that stripping out excess costs means that MKS should be able to absorb the well known other rising costs affecting all retailers, mainly labour-related. So this is a good reason to believe MKS might be more resilient than most, as it becomes more efficient through the current reorganisation. Price reductions - don't you just hate the buzz phrase "price investment"! Why not just call it what it is, price cuts. It's not an investment at all. MKS uses an even more elaborate phrase to tell us that it will be reducing some food prices; Our repositioning will require renewed investment in trusted value. We believe however that this will be offset by cost reduction, volume optimisation opportunities, removing excessive packaging costs, and tackling issues which impact availability and waste. I like the other stuff, about finding cost savings. This newish management does seem to be on the ball, or getting that way anyway. Note also that wage cost increases & other inflation-related costs, were "largely offset" by a reduction in the large marketing budget, and through in-store efficiencies. This reinforces my earlier point that MKS is a bloated, inefficient company, but that's a good thing because it means there's an opportunity to make it much better, and hence more profitable. Or at least there's plenty of fat to be cut out, to absorb future cost increases, e.g. Central costs increased in a number of areas including IT and the introduction of the Government's apprentice levy, however these were offset by reduced costs following the head office restructuring and lower incentive costs year on year. Cashflow - this was a real eye-opener for me. Due to the huge depreciation charge (on previous years' capex), EBITDA works out at: Adjusted operating profit £670.6m + depreciation & amortisation £580.6 = Adjusted EBITDA £1,251.2m. Wow! The public perception of MKS as an almost failing business, seems to be wildly too pessimistic compared with its figures showing that it's actually still a real cash cow. Pension fund - is ginormous! It has an IAS surplus of £948.2m. Yet the cashflow statement shows £41.4m was paid into it by the company. So there must be an actuarial deficit. Scheme assets are £9,989.3m! Scheme liabilities are £9.029.6m, in the accounts. That's some pension scheme. My opinion - before I looked at these numbers, I just assumed that MKS was a basket case, probably heading towards eventual failure. The figures & narrative paint a very much more positive picture. Store closures (of loss-making sites) could increase profits considerably over the coming years. New management seem focused on delivering a serious reorganisation of the company. I'm amazed that MKS doesn't seem to do a proper Ecommerce food offering. All I could find was party food that you had to pre-order about 5 days early. How ridiculous! Why doesn't it do a proper groceries delivery service? Most people seem to agree that MKS clothing is lamentable these days. So that's another potential area for improvement. With all these problems, that MKS is still generating EBITDA of £1.25bn, says to me that there is a cracking business here, which is partially obscured by all its well-known problems. I can scarcely believe myself saying this, but based on my review of these figures, I'm minded to go long of MKS shares - for the divis, and the recovery potential, plus the highly cash generative nature of the existing business.
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23/5/2018
08:22		essentialinvestor: The MKS share price peaked 3 year ago almost to the day, around double current levels.
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28/4/2018
15:34		moorsie2: fair enough... But this sector M&A talk/ action can only be positive for MKS share price Should be a good week for holders and possibly back above 300 again
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25/8/2017
08:57		jpjohn1: In the past I have bought many different shares in company's purchasing £ millions, but on this site don't matter what company it is I would say a third of all comments are very negative of that company, I am not saying we only have positive good news but there are a lot of investors out there hoping to give bad news all the time hoping the share price will collapse and they will pick up a bargain. Mks share price is not great at the moment but you are buying probably the best name in the high street
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