Marston's Share Discussion Threads

[careful] 10/4/2018 09:01

Leverage at about 70% and net debt of about £1bn is not low but seems manageable .
But then CLLN seemed ok, can't trust the balance sheets these days.
Clln had bogus assets, money owed, on its balance sheet.

Just hoping we are ok here.
Many other companies with more debt than this if we can trust the numbers.

Organised shorters always cry 'high debt', a smart move but sometimes BS.

CVR recently wiped out its shareholders.
ran out of cash.
Something stinks on occasions.
CVR did not look that bad .

[the deacon] 10/4/2018 09:00

Mostly mitigated by the leasehold portfolio MRF. That's been extensively addressed by the board too. MARS has a market leading position, and will weather this storm

[my retirement fund] 10/4/2018 08:42

Mars has high debt.

[careful] 10/4/2018 08:39

Share price falling.
We need some results.
Hoping mars are making some money.
So many pubs and restaurants closing.
People not eating out as much, drinking as much, weather disgusting.

Things will pick up with the weather.
Well run survivors should do well.

[cwa1] 10/4/2018 08:38

Just taken a tiny punt on MARS at 97ish in the vain hope that things may not pan out quite as poorly as the share price seems to be indicating. A very difficult space to be in at the moment, I am well aware, but hoping there might be some value in it at some point. Time will, of course, tell.

[chinese investor] 10/4/2018 08:32

Now Approaching 8% !

Chinese Investor (MARS) 15 Mar 2018 - 17:42:19
Annual Dividend is 7.5p so yield is 7.5% !

[cc2014] 10/4/2018 08:28

Quite bizarre given FTSE up 40 and GNK down 0.6% and JDW flat.

I can find no reason.

[chinese investor] 10/4/2018 08:26

What's Happening Here Then ?

[jeffian] 05/4/2018 09:20

Matthew Clarke is a long-established and well regarded wholesaler and its strength is that it does have some sizeable clients so not easy to replace at short notice BUT the weakness of wholesalers - and why they are not highly valued - is that many/most of their customers are not contractually tied to them and can go elsewhere. If you had a wholesale business yourself, why would you buy another wholesaler whose only 'asset' was their client list, rather than waiting for them to get into trouble then approach their clients and pinch them for nothing?!

Edit: btw, I note reports in today's press that MC has been bought for £1 (plus debt) by C&C, the Irish cider group (Magners/Bulmers) who already distribute for Anheuser Bush, with AB putting up some of the finance. Makes sense.

[my retirement fund] 05/4/2018 08:48

Should read paid 200Million

[my retirement fund] 05/4/2018 08:47

Apparent it Clarke had 9.5 million book value and CVR paid 2pp million for it !Cash flow is a big problem too with customers on upto 10 weeks credits terms.

[geminian] 04/4/2018 18:12

Jeffian, you are right. Searched my records and it was December 1998. Payment from Schroders on behalf of Canandaigua Ltd. Had only had my smallholding for about a year and made an insignificant loss.

[jeffian] 03/4/2018 23:50

Must have been a while ago as they haven't been listed since 1998! CVR bought them from the embers of Punch Taverns (50%) and Constellation (50%).

[geminian] 03/4/2018 18:31

M R F, Thanks for the information. Was a little confused as previously held some shares in M C before CVR bought them. Might be interested in some shares if they come back on the scene.

[septimus quaid] 03/4/2018 18:19

Nowhere near in the same league as Ryanair though:

[jbfnfn] 03/4/2018 17:49

Mr Geminian

Matthew Clark is a subsidiary of Conviviality CVR. Matthew Clark is not a separate listed entity. It may be worth someone buying Matthew Clark from CVR, it may be have a place in the pre pack admin or whatever happens to the ashes of CVR.

[my retirement fund] 03/4/2018 17:45

Yea it got bought by private equity whom rinsed it and it eventually got sold after being raped sensless and loaded with debt for stupid money. Just google it.

[geminian] 03/4/2018 17:40

My Retirement Fund, more information please. The Matthew Clark I remember, I think was bought out? Couldn’t find it listed on search facility.

[spacecake] 03/4/2018 16:30

Gender Pay Gap

The men are well and truly in charge !




Massive bonus gap

[diku] 01/4/2018 20:18

This just wants to go below 100p with a big whoosh..

[my retirement fund] 01/4/2018 19:32

Mathew Clark is probably worth buying if its cheap. CVR over paid for it by x4 since then its also lost value.

[septimus quaid] 01/4/2018 14:09

Looks like the wholesale bit of CVR will soon fall into the hands of another brewer.

Could this be detrimental to other brewer’s own stock distribution interests?

i.e., just how dominant were CVR in the wholesale sector?

[jeffian] 28/3/2018 23:34

I don't know why they would. Wholesaling/retailing through fixed property outlets has been a disaster for most UK brewers since the supermarkets decided to offer booze as a loss-leader. Whitbread ditched Threshers and Conviviality's Matthew Clark wholesale business was sold to them by Punch Taverns. Maybe one of the international brewers such as Anheuser Bush mentioned in the article see some value in it but I would be very surprised if the domestic brewers like MARS or GNK see any compelling value in it.

[septimus quaid] 28/3/2018 21:47

Any rumours?

Bargain Booze bust: Retailers shares have "little-to-nil value" as a major brewer is tipped to take over Conviviality