Marston's Share Discussion Threads

[barnes4] 18/7/2024 17:36

That’s what New York/KY boy is famous for

I have made a stack here

[smackeraim] 18/7/2024 10:59

the socialists still like a drink. not fallen since disposal. might be a change of wind ahead .. maybe

[wigwammer] 15/7/2024 07:37

Thanks NYB. But to clarify - you were saying all this stuff at 27p, and anyone who acted on it has missed out. Your posts are always very consensual IMO, not a great way to make money in markets.

[ny boy] 15/7/2024 07:15

Ent make any difference here, just dead cat bounces ahead, debt pile is ridiculous all the family silver (prime pub sites have been sold off) Weatherpoons closing a large chunk of sites, just grim out there, Companies cutting the fat to survive.

China has huge problems, no growth a collapsing housing market, global markets will see a significant correction soon.

Companies will huge debts will just tread water

[jubberjim] 15/7/2024 06:52

Spain deserved to win

Overall England have flattered to deceive throughout the tournament

Oh well there's always next time.

Have a good summer everyone.

[my retirement fund] 11/7/2024 08:59

Exactly how many have you visited out of the 1550 estate Mr 8 Ball? To draw such a conclusion. You sound like you've got a really good understanding on thing's! I'm assuming it's at least 5% of the estate (75 pubs) randomly picked.

[socionomics] 11/7/2024 08:05

The one in Richmond was so busy last night that I couldn't even see the carpets. Get your point though. I'm sure a full refurb will be in the plan now they're fully focussed on the pubs.

[mr 8 ball] 11/7/2024 08:02

I don’t know how many share holders have visited Marstons Pubs recently but i can confirm the dire state that many are in , unkempt gardens peeling paint and broken and worn out furniture filthy carpets not to mention the state of the decoration they give the impression of total decline and abandonment It would be a good idea for the management to spend the 18 million saving on interest from the brewery sale to refurbished the estate it certainly needs it !

[jubberjim] 11/7/2024 04:36

Skinny

But that was before last night's result.

There is a ditty 'Selling England by the Pound'

From tiny acorns mighty oaks do grow.

Have just woken up to the news about the England win last night.
It has put a spring in my step hope it gives a springboard to the share price.

PS
Haven't watched a live England match since tournament began seems to be good for England and better for my blood pressure.

I don't mind another dry weekend if it brings the right result cos I can make up for it later with the BBC I Player if it goes in our favour and marstons is readily available in the supermarkets

Have a good one everybody

[dexdringle] 10/7/2024 12:56

Jefferies raises price target to 1/3rd of NAV.

Not exactly Christmas is it.

[skinny] 10/7/2024 09:40

FWIW :- Jefferies raises Marston's to 'hold' (underperform) - price target 36 (27) pence

[dexdringle] 09/7/2024 15:35

Not here there won't be.

We'll be lucky to get an offer in excess of half the value of the net assets (should an offer even materialise).

[wigwammer] 09/7/2024 15:03

The key driver for any corporate buyer or shareholder is the same - buy assets at the right price. Yes - there may be merger synergies, but there is also usually a big fat premium to get control.

[dexdringle] 09/7/2024 14:37

£1.05. Just three years ago.

Turning that down was rank stupidity.

[skinny] 09/7/2024 14:25

Yes - happy days (not) :-

[jeffian] 09/7/2024 13:47

I'm with dex on this (and have said so before here). Sadly (as an ex-brewery man myself) I don't see a realistic recovery (i.e. at least to NAV) in a reasonable timeframe other than by corporate action. The complete split of the brewing side from the pub estate facilitates that. Whether that is by design of the new management or whether it will attract hostile interest, the outcome could be the same - a sale of the remaining pub estate - and I believe that is the only way shareholders are likely to see real value any time soon. Just a pity they didn't recognise it when the last bid came........

[dexdringle] 09/7/2024 13:36

It's not going to make a significant profit in a million years. It's over. Time to wind it up and distribute the net proceeds before Private Equity comes along and does so.

[my retirement fund] 09/7/2024 13:30

Well, that's one view. However, patient investors underwater will eventually be rewarded for not selling out. The debt is decreasing, but per unit turnover and profit is improving. The last 2 years of 15% retail price increases are a perment rise.

[dexdringle] 09/7/2024 13:11

....especially as it doesn't pay a dividend so under water investors aren't even being paid to wait.

Essentially, the business is incapable of making a profit from the £600 million of net assets. So the assets may as well be sold, the debt cleared, and the £600 million net capital returned to the owners who can then put it to work somewhere else.

[my retirement fund] 09/7/2024 12:19

I'm guessing the company carries a lot of legacy investors holding losses from 80p or even £1.20ish levels. Some of these employees. There will be a lot of bitter investors out there!

[barnes4] 09/7/2024 11:25

Best tell KY boi that message R fund!!

[my retirement fund] 09/7/2024 11:00

Assets 2.1BN, Debt 0.9BN. Debt should be uprated later in the year from BB- to A- or better, allowing headroom for further interest payments. Profits can only go one way here. A decent dividend could even be reinstated next year.

[pj84] 09/7/2024 07:18

"‘For Marston’s, a cleaner business, with greater visibility on earnings and increased financial flexibility. At the headline line, we see it broadly neutral on earnings per share, modestly dilutive on free cash flow and net asset value, but significantly enhancing balance sheet metrics.’

The proceeds of the sale will be used to pay down debt and will mean a ‘much cleaner and less geared business, meaning the property assets form a greater part of the net asset value (NAV)’.

Johnson said that on top of this, interim results were positive ‘showing robust underlying momentum and with the balance sheet significantly improved, we see destiny comfortably in management’s hands’."