Marston's Share Discussion Threads

[barnes4] 29/4/2024 20:28

Best let KY boi know

Nobody buys 100 grand’s worth of shares in Mars unless they are very sure of the outcome
Boi is just an inch hi private i

[my retirement fund] 29/4/2024 20:12

8.8 million shares swapped at 27.2 pence. That's interesting behind the scenes action.

[jeffian] 29/4/2024 18:08

Indeed. Who wouldn't pay 25p for £1? The trick now, though, is to turn that 25p into £1, something that has eluded them for the past many years as a glimpse at the graph shows. Let's hope the new managers have a plan to achieve this.

[barnes4] 29/4/2024 18:02

Nobody buys 100k worth of shares unless they are very certain that their money is safe

Nobody!!

[tygwyg] 29/4/2024 18:01

Primed for a move up?

[barnes4] 29/4/2024 16:25

KY boi

Nobody plonks 100k on a share without being really confident

[heatseek77] 29/4/2024 09:16

Barnes nygal is used to taking phats

[barnes4] 25/4/2024 12:11

Well I wouldn’t spend 100k on shares if I was in any doubt fairdealer/boi

It’s all about the assets and the chart appears to have bottomed so am following the money

Guess you have taken a phat loss here 😂

[rmillaree] 24/4/2024 09:56

to be fair to Marstons they probably lost £200 mill during covid - take 200 mill off he debt figure and they would be in much stronger position. I think at the time they needed to invest in better quality estate and those outlet were starting to deliver decent cashflow before the covid bomb hit. Its easy to be clever with the benfit of hindsight - note anyone investing here should have ALWAYS known the debt added extra risk. I would say they have struggled to deliver any meaningful debt reduction post covid which hasnt really helped - they arent the only entity of this type though finding it harder to make great cashflow post covid (lower costs) than now - so in that regard the extyra "overheads" certainly dont help - particulary when you get a huge vat advantage by buying the same meal from tescos and popping it in the microwave !

[ny boy] 24/4/2024 09:24

careful

Exactly, rare to find someone like that it charge of a PLC
Far too many racked up with debt, a killer but a decade of funny money has allowed reckless corporate borrowing. We will see how it all washes out over the coming years.

[barnes4] 17/4/2024 12:56

High time this outfit comes out with some soothing updates

[fenners66] 17/4/2024 12:27

New all time low?

[fenners66] 17/4/2024 12:26

I don't think there is any danger for the company - however there may well be a danger for the shareholders.
Whether that is a debt for equity swap , or a massively dilutive fund raise, or just higher interest rates ensuring there is no return for shareholders for many years...

[barnes4] 17/4/2024 11:50

Well NY boi
I wouldn’t be parting with 100K unless I was very sure this wasn’t a basket case

So I disagree with you

[sooty snipes] 16/4/2024 16:15

Well a month ago the CEO bought £100,000 worth of shares? Would he do that if the company was in trouble? I don't think so. I bought in at 28p so a bit under water but I can wait. Happy to hold

[fenners66] 16/4/2024 13:32

Just read the financial instruments note and confess I do not follow there wording on just how the numbers are influenced on their using floating-to-fixed interest rate swaps.

I do note "The fixed rate of this interest rate swap at 30 September 2023 was 6.0% (2022: 6.0%)."

[fenners66] 16/4/2024 13:31

rmillaree - The company has met its obligations to tell all just what they have done so far....
The market works on what they have not yet told us or cannot tell us.

The market has to make future assumptions and look forwards - otherwise every quoted company that went bust
would do so with their share prices at say an average - not at the all time lows they generally reach before the company discloses the info.

We know the market is betting on something and that generally the large investors are aware, or have done more in depth analysis of the accounts etc, of some things that retail investors are not.

So Stonegate already looking to refinance next years borrowings and not getting anywhere whilst a much smaller amount the market is perhaps reading across here.

[rmillaree] 16/4/2024 13:16

In other words there is becoming an urgency to get that bit done - that I guess is what the market
is aware of given Stonegate saying they cannot refinance stuff due next year.

Whether it is an unrgency or not it would probbaly be better to ask the company than me - note they had £230 mill headroom on their bank facility - although that expires in 2025 i wouldnt prume they would have an issue rolling that over - although i wouldnt presuke the opposite either.

I would like to think the board have senn this coming and have suitable plans - one would need to ask them though as the shareprice is in the doldrums - thats not unusual though sometimes the mere hint of uncertaintyu can be siezed on by the market - what is particulalry dangerous though is the potential double whammy of forced placing whilst shareprice is in the doghouse.

anyone who wants something more than gossip is probably best contacting the company in that regard.

[fenners66] 16/4/2024 13:12

Swing in % terms ?
Maybe not on the whole estate.
But the securitised debt tells us tha carrying value of those pubs was 1166.6 vs 1166.7 so no change
Maybe just a coincidence...

but leaving the swing as a larger % of the rest

I am just surprised that in the climate of the last few years there should be an upwards revision followed by a downwards

[fenners66] 16/4/2024 13:07

The other thing that consistently annoys me about "adjusted" numbers
is the unamortised finance costs that never run to term (most companies)
I have seen year after year of "adjusted" or in other words "exceptional" finance costs
written off.
If they do it every time / every year its the ordinary course of business !
It is underlying !

So at the last balance sheet date Mars had £3.4m with less than one year left.
If they can reissue that debt no doubt some bright spark will look to reanalyse some of that as "non-underlying"

[fenners66] 16/4/2024 13:01

rmillaree
The maturity of borrowings note p 130
which of course is dated as 30-9-23 i.e. over 6 months ago....

Had
due <1yr 66m
>1yr<2yr 322m

so that 322 is less than 18m now and was up from 266m the year before.
In other words there is becoming an urgency to get that bit done - that I guess is what the market
is aware of given Stonegate saying they cannot refinance stuff due next year.