Marston's Share Discussion Threads

[careful] 10/1/2019 13:30

MAB results today are excellent.
This must be good for the sector including MARS.

[cc2014] 10/1/2019 09:43

The market seems to be waking up to the fact that if people aren't buying cars or spending it in the high street they must be spending it somewhere else. Booze and food!

[the deacon] 09/1/2019 20:58

I think it's likely we'll retrace, along with the wider market, given the likelihood of Brexit rumbling on and the continued mess that Parliament are making over it. Nice to see some sentiment and positivity in the sector though

[quady] 09/1/2019 18:08

The placing gave rights to a divi of a couple of pence the next day. I agree with your sentiment though and it suggests to me value is between today's and the placing price. CW acquisition seems to have been destructive for eps and therefore shareholders. We don't have the counterfactual but CW lower margin has been cited as a reason for 2018 eps being lower than 2017. Let's see if 90s are seen again shortly or if heading back to 110p.

[lindowcross] 09/1/2019 14:20

Philoosh, In May 2017 city institutions paid £1.37p per share at the placing to fund the purchase of the Charles Wells brewery. Overall debt is a concern to the market but institutions must have taken that into account when taking up the placing shares. What is a fair price is anyone's guess but in the light of that placing price, my guess would be somewhere between 1.30 and 1.40p I support Marston's "localism" theme because the beers produced by the local breweries are excellent quality and have a good reputation. If a serious economic downturn appears then the loyalty of the regular customers in the small, provincial pubs will be important to maintaining a reasonable turnover for this company.

[philoosh] 09/1/2019 13:30

This looks like a good return to some form. How far can this go, in anyones opinion?

[janekane] 09/1/2019 10:32

I've bet on an 8%-----10% increase over Dec 2017----Jan 2018 trading period comparison to now dec2018----Jan 2019

[quady] 08/1/2019 22:33

Very true. Great if that were so, massively doubt it though. The Times points out xmas and New Year being midweek will have helped too, which I guess sounds feasible.

[llef] 08/1/2019 12:17

re "Mars was down on like for like last year over Xmas, before a similar 2% hit from
the weather."

the optimistic approach is to say that this year should be very good, (and better than GNK), as they are comparing to a weak 2017!

[quady] 08/1/2019 08:53

Hopefully, but I suspect not. The equivalent update last year had GNK like for like up 1.4% inc 2% lost due to weather. Mars was down on like for like last year over Xmas, before a similar 2% hit from the weather. So they were about 4% off GNK like for like last year. Given that, My guess is MARS did 5% better like for like this Xmas.

[the deacon] 08/1/2019 08:43

GNK did, as per their TU today. Hopefully MARS will follow suit

[chinese investor] 08/1/2019 08:33

Must have had a good Christmas !

[the deacon] 08/1/2019 07:35

Yup, looks good on the whole.

[spacecake] 08/1/2019 07:30

GNK trading update today - looks like a reasonable effort.

[quepassa] 08/1/2019 07:01

The first tranche of £236 million of Marston's securitisation bonds fall due for repayment in some 18 months from now in summer 2019.

It appears that these bonds are thinly traded.

Does anyone have an accurate recent price for these bonds please?

ALL IMO> DYOR.
QP

[daler1966] 07/1/2019 08:41

I agree I paid 101pence but share dropped and now hopefully back up to £1 and nice dividend to come end of month,

[ianian4] 07/1/2019 08:31

Tipped at 117 pence. If the tip was to short it would have been good advice. To make 6% income and lose 17% capital in a year, tips like that should be kept to themselves.

[daler1966] 07/1/2019 08:11

2018 in IC

[ianian4] 07/1/2019 02:45

Daler, What year?

[daler1966] 06/1/2019 22:17

Income tip of the year, IC ...

[lindowcross] 04/1/2019 20:30

Jeffian, good points, and if Glaxo can flog Horlicks in India for 3 billion quid to Unilever, I'm sure we can all speculate on what the rights to Marston's Pedigree might be worth.

[daler1966] 04/1/2019 12:02

Yes ok thanks for that Cc2014 .

[jeffian] 04/1/2019 11:08

#3017,

The "Net Asset Value" argument is also used by EIG and one has to wonder why these pubco's trade at such substantial discounts to NAV. Market's always been a bit wary of property valuations but I think the answer lies in the extent of Goodwill/Intangibles. MARS has a stated 2018 NAV of £957.6m and 660m shares in issue = £1.45/share. But within that £957.6m, £300m is Goodwill and Intangibles. Take that off and the property-backed NAV falls to £1/share.

Other than that, I agree!

[chinese investor] 04/1/2019 09:04

"Stonegate Pub Company IPO-SPC.L on Friday reported an 8-12 percent rise in sales over the Christmas period, the first major UK bar owner to publish holiday results in a sector that has been plagued by unseasonal weather and Brexit worries.

Stonegate, whose Slug and Lettuce chain is part of a portfolio of more than 700 British pubs, said sales rose 12 percent on the year in the two weeks to Jan 1.

Like-for-like sales growth was 7.8 percent and for key trading days, including Christmas Eve and New Year’s Eve, sales were up on average 8.3 percent, the company said."