Marston's Share Discussion Threads

[diku] 29/1/2010 09:05

Build and materials costs are very competative now unlike the crazy prices charged in 2006/2007...but the regulation requirement list is endless!!..

[milacs] 29/1/2010 08:47

Does anyone know the name of the construction company employed to build these new pubs?

Good business for the builder in this recession.

M

[diku] 29/1/2010 08:39

Me thinks the statement so far just mildly positive..No doubt more info after noon meeting..No doubt somebody will ask the question again the need to build 60 pubs?...

[timbo003] 29/1/2010 08:22

Very reassuring.

These results (and Green King's earlier in the week) just go to show that many people (myself included) do not consider going to the pub as discretionary spend, it's mandatory!

[mhw28865] 29/1/2010 08:19

yes and would have been a lot better without the Jan snow!!

[gswredland] 29/1/2010 08:18

Encouraging statement!

[gswredland] 28/1/2010 21:10

When are results guys please?

[evox] 28/1/2010 20:07

Good prediction diku! Looking forward to strong results and further gains tomorrow. Good luck all.

[diku] 28/1/2010 16:39

So they hit the nail at 90p..

[diku] 28/1/2010 13:49

Close at or above 90p would be a good omen..

[philw2009] 27/1/2010 16:00

diku - Maybe on Friday.

[diku] 27/1/2010 15:45

Price heading in the right direction after being oversold ahead of IMS...any chance of 100p tomorrow?...

[jeffian] 27/1/2010 11:04

I agree, jazza. A good pub is a good pub and although PUB and ETI are being forced into selling some good ones they would rather not, it is clear that they are getting sensible prices.

As you know from my previous comments on this thread, I'm not a huge fan of MARS' 'build from scratch' policy and it is interesting to compare GNK's approach of spending £2m/pub generating instant earnings whilst MARS are presumably still digging trenches for the foundations whilst their cash earns 0.5% in the bank!

[jazza] 27/1/2010 10:45

jeffian,

What's your thoughts on the price GNK paid for the pubs from PUB?

Answers, to some extent, those who raise doubts about the book value of these assets does it not?

[jeffian] 27/1/2010 10:44

Following a good trading update today from Greene King, I think.

[philw2009] 27/1/2010 10:28

Seems to be on the rise, fingers crossed for some decent news on Friday.

[evox] 25/1/2010 20:31

thanks gregode. should rise into news based on competitors results.

[gregode] 24/1/2010 18:25

AGM is Friday :) Fingers crossed.

[evox] 21/1/2010 20:55

Definitely phil : just a pity it came on such a down day. Anyone know when the next AGM/IMS is due? Last year there was a RNS on 23rd Jan so might not be far off? Can't find any date on website though.

[philw2009] 21/1/2010 11:25

ETI up 12% today on the back of a reasonable interim statement. Must be good for MARS I think.

[philw2009] 20/1/2010 08:32

Thanks timbo, definitely grounds for optimism.

[jazza] 19/1/2010 19:16

Well Richard, if you will insist on taking a period in time that starts with a major market bottom and ends with a major market top (since when there has been a big fallback) you're bound to get eye-catching numbers.

My question to you is: What exactly are you trying to prove?

:-)


"The idea that property inflation is somehow tied to general inflation is wrong, you only need to look at property inflation versus general inflation over the period 1996-2007 to see that."

[richardbroughton] 19/1/2010 17:24

Phil, if you have not got cash or can't borrow it supply/demand is irrelevent. The house market in this country is rigged by the planning laws which in my opinion are ludicrous, the idea that you can buy a depreciating asset, sit back and watch it go up in value 20+ fold (my house over 30 years)without doing anything is crazy and ecomomics of the mad house. Houses do not go up in value,(other than normal inflation) it is the land they sit on that rises in value and as I say that is because the supply is artificially restricted. The idea that property inflation is somehow tied to general inflation is wrong, you only need to look at property inflation versus general inflation over the period 1996-2007 to see that. I took the rights in full and will hang for the dividend while the share price stays above 70ish. Good luck to all, the great thing about the best of these threads is differing opinions and good debate, some of us will be right and some wrong but not all at the same time.

[philw2009] 19/1/2010 12:05

In my opinion, the premise that property prices are entirely dependent on the availability of credit is wrong. Houses follow the laws of supply and demand like everything else. At the moment, we have a huge demand for houses so the price is high. The lack of available credit means that less houses are sold, it doesn't mean that the prices fall dramatically. This is why the prices went back up during 2009.

Most commentators expect the house market to be flooded with cheaper properties in 2010, precipitating a house price fall but this won't happen. The trading volumes will remain low by historical standards and prices will continue to rise very slowly. Don't be fooled by the myth of the 'reluctant landlords' that are going to sell suddenly and bring prices down again, the whole reason why they're reluctant is because they're not going to make a loss on their properties.

We certainly won't see a boom in consumer spending this year, but there's no reason to think that things will be too bad. The economy still works, we have great businesses and industries. The public sector cuts will hit public sector workers, which will have a knock-on effect on the wider economy, but we can cope. Too much pessimism around IMHO!

PS. No-one needs to 'snap up' Marstons, they're doing fine. The F-plan and real ale are as much a factor in valuing Marston's as the UK economy, and they're doing great.