Share Name Share Symbol Market Type Share ISIN Share Description
Marston's Plc LSE:MARS London Ordinary Share GB00B1JQDM80 ORD 7.375P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -9.00p -7.38% 113.00p 112.90p 113.30p 118.60p 109.20p 116.00p 10,231,460 16:35:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 1,141.3 54.3 7.1 15.9 716

Marston's Share Discussion Threads

Showing 4751 to 4775 of 4775 messages
Chat Pages: 191  190  189  188  187  186  185  184  183  182  181  180  Older
DateSubjectAuthorDiscuss
15/10/2019
15:40
Great day trade on these today over 3% profit
evg
15/10/2019
11:57
Glad i offloaded these, an accident waiting to happen, the debt level is truly ridiculous, another dividend trap. Capital raise on the cards id bet.
porsche1945
15/10/2019
11:47
Link to Langton Capital report: hxxp://www.langtoncapital.co.uk/daily-notes/langton-capital-2018-10-10-pat-val-irregularities-marstons-hollywood-bowl-other/
blobby
15/10/2019
10:22
Working hard, going nowhere.
jeffian
15/10/2019
09:55
Langton: Marston’s has this morning reported its Q4 and year to date numbers and our comments thereon are set out below: Trading – Summary: • Marston’s is indicating that it believes PBT for the year will be around £101m. This implies a downgrade of circa £4m. EBITDA will be ‘broadly flat’ on the year • Around £3m of this is due to somewhat less-buoyant trading in the group’s food-led pubs (in line with peer group comments and the Coffer Peach Tracker) and around £1m from higher interest and insurance costs • PBT for FY20 will also be edged back to around £101m. • The group reports that food-based sales will grow from a lower base and adds that £2m to £3m will be invested in on-site training, higher wages and digital marketing. Interest costs will rise modestly. • The group reports that total revenue will be up c3% at around £1.2bn. Full year numbers will be reported on 27 November • FY20 will feature a 53rd week but this ‘will offset the impact of the step-up in securitised interest (which reverses by c £3m in 2021).’ • Overall, the group says ‘we therefore expect underlying profit before tax in 2020 to be at a similar level to 2019, reflecting growth in underlying operating profits offset by increased disposal activity, additional pub investment and higher interest charges.’ Managed & Franchised Pubs: • Total LfL sales are up 0.8%. This implies an increase of around 1.9% over the last 10wks • Overall, margins will be lower. This was guided earlier in the year. Labour costs have risen and labour-scheduling, in a service business, can only go so far Destination & Premium Pubs: • Sales are +0.1% for the year as a whole, in line with the figure given for week 42 • Comps, however, were soft and the performance has been held back by sluggish food sales. Covers have been under pressure but wet sales have been strong Trading – Taverns: • Taverns LfL sales are up 1.9% for the year as a whole. They were up 1.1% at week 42 implying an acceleration to around +5.4% over the last 10wks. • Wet-led sales have been strong. Q3 (which was reported at the end of July) was less good due to hot-weather comps and the World Cup last year Trading – Beer Company: • Beer volumes are up 1% overall. They had been +4% at week 26 but slipped in Q3 against hot-weather and World Cup comps • At its Q3, Marston’s reported that its sales shortfall was largely as a result of reduced lager sales (Estrella Damm) into the off-trade. Unsurprisingly, the boost provided by the World Cup and continued hot weather last year was not repeated Balance Sheet, Cash Flow & Debt: • Marston’s reports that net debt should be around £1,399m at end-September, up around £14m on last year. • A small increase in debt had been flagged up and some extra stock has been taken on ahead of 31 October, the latest Brexit deadline • Marston’s was recently reported to be inviting bids for c150 tail-end pubs (for around £45m) and the group is indicating today that disposals should total around £70m (earlier estimate £40m) in FY20. • The group has recently cut back on its opening programme in order to more rapidly pay down debt whilst maintaining its dividend. • MARS has previously indicated its intention to reduce debt by around £200m. The higher level of disposals will accelerate this reduction, but the group will lose the EBITDA that the disposed pubs had previously generated • MARS’ dividend is secure and, as the company is moving towards a position where it should generate around £50m p.a. after the payment of a maintained dividend, it will still be in a position where it can decide to either pay down debt further (by the £50m p.a.) or restart its new-build programme. Conclusion & Outlook: • CEO Ralph Findlay reports ‘our drinks businesses have performed well, achieving further growth against an exceptionally strong 2018.’ • He says ‘wet-led pubs have led the charge continuing their positive trajectory and food pubs have achieved modest sales growth.’ • Mr Findlay adds ‘operationally, we remain focused on further improving our proposition and plan to make additional investment in both our pub teams and digital marketing in the forthcoming year.’ • The group says debt will be reduced by £200 million and it concludes ‘we are making encouraging progress and have decided to increase the pace of our disposal programme this year to accelerate the achievement of this target.'’ Langton Comment: • Marston’s strong performance in Q1 and Q2 faded over the tough comps provided by the hot weather and the World Cup last year. • Today’s downgrades, whilst disappointing, reflect the reality that this was a tough year where margins have been hard to maintain. • The group has benefitted from the recovery in wet-sales across the country as a whole but, again, comps have been hard to beat. • Marston’s shares have been buoyed by the Greene King takeover approach and, given their performance and the tone of today’s statement, some further profit taking is likely. • The shares are nonetheless not expensive. The yield is secure and, with debt coming down and a yield of 6% plus to support them, downside should be limited. • Marston’s retains an estate of well-managed and well-maintained, largely freehold properties. It is selling product that the consumer would like to buy at a price they are prepared to pay. The moves it has announced today suggest that it intends to sharpen up its act in FY20. • Lodges, craft brewing and food (in the longer term) remain growth areas. Marston’s is a major brewer and has a large wet-led element to its estate. Its managed houses are growing sales and holding margins. The group is well-placed to return to growth and to create further value for its shareholders.
cc2014
15/10/2019
09:22
RNSd often a 1day price action event so will just let it pass. Have my stop in the market if price wants to crater.
davr0s
15/10/2019
08:56
any guesses as to take out price?
gswredland
15/10/2019
08:47
I agree SQ the drop seems over done, as you say MMs at it.
luderitz
15/10/2019
08:46
And FWIW :- Shore Capital Buy 111.73 Reiterates Liberum Capital Buy 111.73 130.00 Reiterates
skinny
15/10/2019
08:36
The message seems to be that the results are similar to last year (but that just happened to be a very good year, football, weather, etc). Market makers up to their usual tricks, any excuse to drop the price and trigger stop-losses
septimus quaid
15/10/2019
08:36
Poor results probably makes a takeover more likely, but at a reduced valuation. Not that much in it for shareholders now who bought in for a possible takeover and for shareholders like me for the dividend with a little growth, that is now under threat. If they want to speed up the debt reduction, that is likely to come at the cost to dividends and growth.Understand their need to reduce interest payments, was hoping that they would restructure the outlets to achieve that.
our haven
15/10/2019
08:26
Very poor results
gswredland
15/10/2019
08:00
Peel Hunt Hold 122.00 125.00 Reiterates
skinny
15/10/2019
07:18
From todays trading statement... Flat results, Flat outlook with the line... "The guidance above does not reflect the impact of the new IFRS16 lease accounting standard, details of which we shall provide at the preliminary results in November." About as inspiring as a fart in a crowded lift. £40- £45m for 150 pubs, initial bids in by Sept 27th... hTTps://www.morningadvertiser.co.uk/Article/2019/09/30/Marston-s-to-sell-150-strong-pub-package
spacecake
30/9/2019
18:51
Delighted weakness due to press comment - as they generally don't know a lot and they just cause short term weakness
davr0s
30/9/2019
14:38
For those of us who do not subscribe to the Times. Some comment from Sharecast on the article. https://www.sharecast.com/news/tips-round-up-premium/sunday-share-tips-marstons-begbies-traynor--7040235.html
gregsc
30/9/2019
14:13
Oh well. 6% down on a Sunday Times article. I guess I should pay more attention to the press. They can only sell them once though. He says... Trying to find some crumb of comfort in today's fall... I could actually buy a few back since I sold about a third of my holding higher than this but that wasn't really in my plan. I'd much prefer the share price just went up this afternoon and ended positive as it's the last day of the quarter
cc2014
30/9/2019
13:53
Here's the link.
skinny
30/9/2019
13:48
Sunday Times advises 'avoid' yesterday. A full piece not all negative but headed 'Marstons debt pile leaves a bitter taste'. Refers to £1.4bn of debt. Probably the reason for todays fall, punters selling after recent surge. Recent rise because of Greene King bid.
careful
30/9/2019
09:20
The trade flow is a bit odd today. The volume is high for 9:15 and we see sell after sell with the 'o' trades (like MARS has been downgraded somewhere), yet someone is soaking up every single sell generally paying 130.4 but sometimes a bit lower (if it gets too many fills too fast?) Edit 9:25 : now the battle is at 130.3. someone certainly wants some stock
cc2014
29/9/2019
13:51
Q3 trading was actually quite good, just looked poor compared to phenomenal Q318 trading which was boosted by exceptionally good weather and England's unusually good run in the World Cup. Markets have a short memory.
2wild
27/9/2019
12:25
LOL, Skinny. Not really. I just meant that it isn't down to any improvement in the fundamentals, but a realisation that it is cheap and may attract interest on those grounds alone. Looking at the chart in the header, although it had begun to claw its way up from May, it collapsed again on the Trading Update in July (the fundamentals) and bounced on the announcement of the GNK bid in August. I don't think MARS are likely to produce any trading results which will set the world alight, but the hope remains that someone will have a pop at them. Please.
jeffian
27/9/2019
12:02
Jeffian - that's almost positive from you on MARS! :-)
skinny
26/9/2019
19:04
Dunno - I hold as it's trending up. It's all I need to know
davr0s
26/9/2019
19:03
Although it remains a sleepy old company toddling along with no great sense of urgency, it pays a very high dividend which looks reasonably secure at a time when interest rates seem stuck close to 0% for some time ahead, it is asset-backed, it is reasonably cheap, and with agreed bids moving ahead for both EIG and GNK and the FSTA brewery sale done, has the prospect that it is the only one left on the shelf for any roaming predators. In the meantime, competitors are producing results which prove, yet again, that the pub is far from dead. With all of that, it's quite easy to see why it is holding up.
jeffian
Chat Pages: 191  190  189  188  187  186  185  184  183  182  181  180  Older
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