Telegraph says that's what happens when global brewers run by accountants take over.
Carlsberg will want an improved return on their investment.
Which why I would be keen on seeing the post deal agreement with Marstons.
I presume there is a multi year tie in for Marstons .
I also imagine that the prices will go up as they are no longer a part owner.
But one would have thought that would be limited by the terms of the deal...
Just depends which party were the most desperate to sign that deal. |
Well I think we all saw that one coming! Sad. |
Two pubs that I visit have increased a pint by 10p since the budget. |
All competitors will have to raise prices 1-2% to compensate for cost increases. Marstons will not be alone. The question to ask is - are Marstons better placed to do this given they cater to an older, wealthier demographic? In my view - yes... Nice valuation too. GLA |
Good point. |
From the DM
"The Budget is a 'deep and painful wound' for pub trade, an industry boss has warned amid sinking confidence in the Government.
Emma McClarkin, chief executive of the British Beer and Pub Association, warned venues will shut, jobs will be lost and the price of a pint will go up in a £650m hit to the sector." |
Also today, JP Morgan cuts M&B and Young's and co. So they must particularly like Marston's! |
If only. Go on, then! |
FWIW :- JPMorgan raises Marston's price target to 78 (68) pence - 'overweight' |
Where is ole KY |
Quite a few of my shares in my portfolio have took a dive in the last month, mainly due to an increase in short positions eg ITV, EVOKE, VANQ, However I see that MARS doesn't have any declared shorts (maybe there are some below the 0.5% reporting threshold). I'm taking this as a positive, as I believe shorts are thinking that there isn't much downside from here, but there could be a lot of upside |
"Some of course refuse to believe the budget has any impact..." No. it was simply highlighted that getting to a firm number was difficult, that you have a history of making wildly inaccurate guesstimates, that you have a history of only seeing the negative side of things (except when the shares are near recent peaks), that you ignore valuation etc etc.. Apart from all that, really great stuff :) |
.
"But subsequently shares in the £231million company have dropped by 14 per cent amid the Budget-fall-out this past month.
Again, analysts are confident, setting an average target price of 60p. This represents a big bet on the implementation of the ambitious new strategy." |
Youngs who had 7172 employees in April - but has added another business since then , says the Budget will cost them £11m next year.
With more employees on Mars books I may have understated the impact here.
Some of course refuse to believe the budget has any impact... |
That report in the press re MAB is going to put the leisure business under more pressure.
Don't expect any let up soon but even more scrutiny.
Pubs and hospitality businesses don't have enough problems
Be safe |
Oh dear KY boi |
ref the stopping of pension payments - is this not always just potentially a temporary stopgap. They have preumably 3 yearly pension reviews and any one of those reviews i would expect could forec payments to restart if they have come to a stop previously?
Perhaps they are lucky enough to be in a sweet spot the next 3 years that they may have a mini break but with £300 mill plus pension pot they are obligated to fund the facts its ok now, and not needing cash now doesnt mean that will continue to be the case medium term imho.
Hey ho i am not going to knock teh bonus of payments potnetiall stopping even if thats just for the next 3 years - every penny counts as they say. |
The raft of retail and leisure companies that have NOT provided calculations is far larger. Is it not? |
 From the DM today
"In a furious letter to the Chancellor, Premier Inn, Slug & Lettuce and Fuller's have demanded tweaks to Labour's 'regressive' plans - which will heap an extra £3.4bn on the sector.
They say hospitality is unfairly hit by changes and drastic consequences will include small businesses collapsing and job losses.
Rachel Reeves has hiked the rate paid by employees on their earnings while a lower threshold means thousands of part-time staff are now included in the tax for the first time.
They have called for an exemption for lower band taxpayers who work fewer than 20 hours per week to support venues who hire student bartenders and other flexible workers"
Signatories of the latest plea include Simon Emeny, chief executive of Fuller's, Bob Ivell, chairman of Mitchells & Butlers, David McDowall, chief executive of Slug & Lettuce owner Stonegate Group and Dominic Paul, chief executive of Premier Inn owner Whitbread.
Seems that industry leaders entirely agree that they are going to be hard hit and that student bartenders are going to be at the forefront of that.
Some of us got that straight away - others have not. |
A raft of retail and leisure companies have been coming out with calculations of how much the budget changes are going to cost them , radio headlines about pubs having to cut staff , increase prices and possibly close...
Where are the Marston's numbers?
After all I had a stab at them straight away and I don't have access to the books.... |
30th November normally - you only need 500 shares!
"The vouchers provide you with 30% off food at participating pubs." |
I have never encouraged anyone to sell or buy - its their decision. |
Bought a few thousand Marstons shares a while ago. It's sometime in November they issue hotel discount vouchers for the following twelve months? |
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