Marston's Share Discussion Threads

[rmillaree] 14/5/2024 10:54

Just a pity they can't make any profit!

agreed you have laugh - hey ho at least debt is down so it could be worse

[jeffian] 14/5/2024 10:03

"Strong financial performance"

Just a pity they can't make any profit!

[heatseek77] 14/5/2024 09:35

MRF got to be 80p +

[my retirement fund] 14/5/2024 08:54

What would a takeover be pitched at?

[heatseek77] 14/5/2024 08:53

NAV @ 95p (2024)

[heatseek77] 14/5/2024 08:53

Commenting, Justin Platt, CEO said:

"A positive H1, Marston's has delivered strong like-for-like sales growth of +7.3% outperforming the market and achieving an impressive 22% uplift in pub operating profit. We have managed costs well and made further progress to reduce debt. This performance is testament to the dedication and hard work of our talented team, who constantly strive to delight our pub-loving guests."



"The outlook for H2 is encouraging. With a number of 'must not miss' major sporting events, our massively upgraded pub gardens and much-loved food menus, we expect our pubs to be very popular this summer."



"Reflecting on my first few months with Marston's, I am very excited by the potential that lies ahead. The UK Pub Market offers significant value-driving opportunities for those who can engage and deliver for their guests. With our high-quality estate and guest obsessed team we are well placed to capitalise and to deliver consistent, reliable cashflows that will drive value for our shareholders."

[heatseek77] 14/5/2024 08:51

Strong financial performance

· Revenue up 5.2% to £428.1 million (H1 FY2023: £407.0 million), with good momentum across food and drink sales and like-for-like sales up 7.3%, outperforming the broader market1

· 22% increase in underlying pub operating profit to £52.7 million (H1 FY2023: £43.1 million)

· Underlying pub operating margin of 12.3% (H1 FY2023: 10.6%), with good progress on cost efficiency programme, despite inflationary environment

· Underlying share of CMBC's profit/(loss): £(0.6) million (H1 FY2023: £2.2 million), reflecting CMBC's accelerated investment in brands; the CMBC H1 FY2024 dividend received was £13.8 million (H1 FY2023: £10.6 million)

· Statutory loss before tax of £(43.5) million (H1 FY2023: £(38.1) million) is primarily a result of two non-cash items: the increase in liabilities from interest rate swaps of £25.8 million, together with a one-off charge of £16.0 million in respect of CMBC's ale brand impairment and onerous contract provision



Focus on cash generation, debt reduction and extension of bank funding

· Operating cash inflow of £90.9 million (H1 FY2023: £69.9 million), with net cash inflow following interest, capex and disposals of £30.5 million (H1 FY2023: £11.5 million)

· Continued progress with debt reduction strategy: net debt excluding IFRS 16 lease liabilities reduced by £24.5 million during H1 FY2024 to £1,160.9 million (FY2023: £1,185.4 million); debt reduction remains a key focus

· Successfully secured amendment, extension and increase of banking facilities totalling £340 million



Ongoing operational improvement

· Well-positioned to continue to capitalise on consumer lifestyle changes with a predominantly freehold pub estate and community focus with limited city centre exposure

· Continued improvement in our Reputation score, up to 787, from 766 at FY2023, as we continue to work to improve quality and consistency across our pubs2

· Operational efficiency initiatives progressing well, reflected in positive margin growth



Current trading and outlook

· Encouraging start to H2 with like-for-like sales in the last six weeks +4.0% vs. last year, excluding the impact of the additional May bank holiday last year like-for-like sales were +5.3%

· Continued progress on cost efficiency programme and targeting margin improvement of at least 200bps over the medium-term, with significant progress already made

· As with prior years, the business will be impacted by the seasonality of trade which typically sees the majority of revenue, profit and cashflow generated in H2

[my retirement fund] 14/5/2024 07:54

I think they could do with reducing debt by selling their Carlsberg stake. A takeover valuation of 80p would be fair. Just goes to show how clueless they were turning 105p down a few years ago, almost criminally neglent for the then unlucky shareholders.

[kulvinder] 14/5/2024 07:41

Yes look good to me, let's see what the market thinks...as this use to be around 90p not so long ago. Here's hoping.....as I bought this as recovery of some of my losses in PFC....

[chinese investor] 14/5/2024 07:22

Good results !

[barnes4] 13/5/2024 08:38

Come on KY say you might have been wrong

Own it boi!!

[wigwammer] 13/5/2024 08:37

Where have the bears gone? Such conviction :)

[barnes4] 13/5/2024 08:14

Where’s that KY boi?

[hamhamham1] 13/5/2024 06:18

Yeah, I had some RR as well and sold too early. Plus bought SPT and CMCX last Oct/Nov at bottom, but again sold too early, doh.
And now I am trying to hold until each doubles, then sell all or most of each down.
So trying to see my choices at medium term investments rather than short term trades.
Less stressy for me.
But time will tell :)

ps, I also have BT. And they will hit 2 quid again IMO over next couple of years. And a nice 7.5% divi pa along the way ;)

[dexdringle] 12/5/2024 09:23

I had some Rolls Royce at 90p. Sold at £1.30 fully expecting them to go back below £1. Then they rocketed. Typical 🙄.

I also bought BT at £1 and, when they went to £1.25 I hung on. They are now back to £1.04. I literally can't do right for doing wrong 🙄🙄

[hamhamham1] 12/5/2024 08:44

Tell that to those who bought Rolls Royce shares 18 months ago at 70p ;)
Some are bargains. Some are not. Sorting the wheat from the chaff is the hard bit :)

dexdringle11 May '24 - 15:07 - 7244 of 7245
0 0 0
There is no such thing as a 'bargain' on the stock market. Every share is the price it is for a reason...

[libertine] 11/5/2024 15:48

Marston's PLC (LON:MARS) institutional owners may be pleased with recent gains after 10.0% loss over the past year

hxxps://simplywall.st/stocks/gb/consumer-services/lse-mars/marstons-shares/news/marstons-plc-lonmars-institutional-owners-may-be-pleased-wit

[dexdringle] 11/5/2024 15:07

There is no such thing as a 'bargain' on the stock market. Every share is the price it is for a reason.....

[hamhamham1] 11/5/2024 14:56

The ace up Marstons sleeve is they JV with Calsberg.
Thats worth current market cap of whole group alone IMO.

[simmsc] 11/5/2024 02:55

Pubs have been open for a while mate.

[llef] 10/5/2024 16:06

There is an article in the FT re the recovery of pubs, and the attached quote might have a read across to Marstons..

“It is hard to make money just from pulling pints behind a bar, the way we used to back in the day,” David McDowall, chief executive of the UK’s largest pub group Stonegate, told me this week. Stonegate has financial challenges — it must refinance £2.2bn of debt that comes due next year — but he is “cautiously optimistic” about trade.

[lindowcross] 10/5/2024 15:48

Isn't the rise as Jeffian states at 7234 a series of fortunate events, a concatenation of events, or er ...lots of things happening at once: interest rates due to drop, market getting more positive, Heineken doing up suburban pubs, economy going "gangbusters" and Marstons' market price being ridiculously cheap?

[dexdringle] 10/5/2024 12:28

I think these are definitely going to a quid.

You're welcome 😂