Marston's Share Discussion Threads

[spacecake] 10/4/2018 12:38

Well, I suspect this is trading down on worries over the impact of weather etc.

[careful] 10/4/2018 11:40

Market cap today £611m.
Downgraded profit above £108m.

still very cheap.

[liberace pickles] 10/4/2018 11:38

That was a great opportunity to buy.

[the deacon] 10/4/2018 11:35

Stiefel downgrading MARS & MAB today - citing weather."First half profits will have been impacted by severe weather conditions and we reduce our full year pre-tax forecast by £2.5m to £108m' (MARS)

[essentialinvestor] 10/4/2018 11:31

I've mentioned previously on the GNK board directors
have not bought the multi year share price decline. With such a "generous" yield on offer,
you might expect to see at least some non execs tuck in to a few shares.But no.
I wonder why ..

[spacecake] 10/4/2018 11:24

If there's any value here, some fund manager who's not a half wit will scoop up the rump, If not then down it goes.

[cc2014] 10/4/2018 11:07

Daily volume already above daily average and that's before all the large trades get reported after the close.

From L2 it looks like there is one large party selling who should know that the market cannot possibly absorb the volume they are selling at the speed they are selling.

You can see from the trades that 95% of the 'o' trades are buys but the sellers bot sell program is large and highly aggressive.


About 15 years ago I was day-trading EMI and the volume kept coming like this. The next day it was in the papers -someone had accidentally sold 5% of the company through an auto-trade program in one day.

[chinese investor] 10/4/2018 11:03

From The Annual Report :-

"During the period the Group entered into a new GBP320 million bank facility to March 2022, with an additional GBP40 million accordion facility at improved terms.

This facility, together with a long-term securitisation of approximately GBP806 million and the lease financing arrangements described below, provide us with an appropriate level of financing headroom for the medium term.

The Group has sufficient headroom on both the banking and securitisation covenants and also has flexibility to transfer pubs between the banking and securitisation groups.

In recent years, the Group has entered into lease financing arrangements which have a total value of GBP301 million as at 30 September 2017.

This financing is a form of sale and leaseback agreement whereby the freehold reverts to the Group at the end of the term at nil cost, consistent with our preference for predominantly freehold asset tenure.

The agreements range from 35 to 40 years and provide the Group with an extended debt maturity profile at attractive rates of interest.

Unlike a traditional sale and leaseback, the associated liability is recognised as debt on the balance sheet due to the reversion of the freehold.

Net debt excluding lease financing of GBP1,028 million at 30 September 2017 is in line with last year.

In May the Group raised GBP75.5 million from the issuance of 9.9% of the ordinary share capital of the Company to fund the acquisition of CWBB and the Whitbread pubs described above."

[tim 3] 10/4/2018 11:02

Geez nearly 8% yield not sure thats a good thing!

[timsnaps] 10/4/2018 10:56

Must be a big seller to appear at the end of the day!

[the deacon] 10/4/2018 10:43

World Cup (hopefully!), Royal Wedding this summer. Should be a good time for pub/drink exposure.

[bookbroker] 10/4/2018 10:31

All about GNK on the 12th, if they reassure a bounce then this likely rise too, failing that it could be a long, dreary summer!

[eeza] 10/4/2018 10:28

Blackrock and the other US outfits are shorting the UK retail space. Any Co with high debt will be in the cross-hairs.

[cc2014] 10/4/2018 10:16

Well I just added. My second trance to add to those from 102 from some time ago.

I don't think the world is going to melt down and 7.68% dividend should provide some support to the share price.

Unemployment high, inflation falling, real wages rising. I think this should look fine in a few years time.

[my retirement fund] 10/4/2018 09:50

Surely if tennant businesses find themselves severely margin squeezed longer term, then there are two options. Pack up and close down or survive by demanding lower lease costs.Either of these would spell disaster for Marston equity, surely?

[hernando2] 10/4/2018 09:40

Not any more, they just get fat, unless they work out like crazy...

[careful] 10/4/2018 09:39

portion sizes are small at top restaurants for the upper classes.
Only the working classes expect large portions.
..but then they have been working in the fields and down the mines,
and are hungry.

[ianian4] 10/4/2018 09:38

Conflicting reports on GNK in the Telegraph and the Times, Buy and avoid, take your pick. All the bad news has already been factored into the share price. This is just money making by those in the know, match the buys and drive the price down and sell when it gets back to where it started making a few bucks on the way.

[ianood] 10/4/2018 09:28

Fears over GNK earnings statement - flagged in the Times couple of days ago!

[cc2014] 10/4/2018 09:21

The question is why MARS is getting bashed about today when the rest of the sector isn't to the same extent. That makes no sense to me.

edit: and the volume on GNK and JDW is non-existent compared with MARS. GNK 130k shares traded. JDW 4k. Really really strange

[cc2014] 10/4/2018 09:19

Bookbroker. Can I suggest you go and read the balance sheet and look at the assets and the EBITDA number and the nature of the debt.

5 minutes research is enough to show the company is not "in trouble".

The share price reflects the headwinds out there which many would argue are more than in the price.

[careful] 10/4/2018 09:14

Always felt mars was a well run outfit.
For some reason Wetherspoon became a city favourite and was too highly rated.
Things must be tough though, looking a the plight of Jamie Oliver and others.

[chinese investor] 10/4/2018 09:06

Incredibly Sound !

[bookbroker] 10/4/2018 09:05

If that is the net debt then this company is in big trouble, Wetherspoons already remarking minimum wage hike having an effect, and you go in there and you pay to wait, never enough staff when busy, two behind bar, the rest working the tables, and they do work, never standing still. Dunno here but I bet their costs are higher, can see this being required to raise capital!