Marston's Share Discussion Threads

[ed 123] 15/6/2018 10:14

Gone into auction.

[ed 123] 15/6/2018 09:23

Yes, strange, CC2014. There was haste in the buying, which was not evident yesterday.

Reported notifiable short positions stand at a total of 3.4%. Possibly one of those concluded that 96p or so was the bottom and the time had come to close?

[cc2014] 15/6/2018 08:55

Strange because yesterday it took until 1 o'clock to do this much volume.

No-one has been interested for days and the price has just been dithering around 97-98


The mad rush seems over now but buyers are still coming in on L2. I suspect the buying is continue most of the day

[11_percent] 15/6/2018 08:22

I am with CC2014.......strange movement...

[the deacon] 15/6/2018 08:21

Nice start!

[tallprawn] 15/6/2018 08:16

Buying opportunity at these levels - That's why volume is up. Not sure why you think it's strange.

[ny boy] 15/6/2018 08:15

Thirsty work watching this World Cup 👍🏼🍻🍺c17;️🏴󠁧󠁢󠁥󠁮[7607;󠁿

[cc2014] 15/6/2018 08:12

Strange movement. Volume kicking in too

[chinese investor] 15/6/2018 08:11

Good to see a pound again !

[jeffian] 13/6/2018 10:07

Oh yes. I didn't get that far!

[knowing] 13/6/2018 09:50

Read it again

[jeffian] 13/6/2018 09:43

Errrr.......no mention of MARS there!

[ny boy] 12/6/2018 14:25

Mini bear trap before we get going into the 100’s again, World Cup beer fest days away!

[llef] 12/6/2018 13:35

Jeffian - thanks for your reply (420), and your reasons for holding.
I'm a bit concerned that Fullers did not update with a more cheery current trading report last week, esp as it operates in the more affluent S/E, but I will carry on holding Marstons until they themselves actually report disappointing nos

cheers

[baticle] 11/6/2018 12:20

Will do NY Boy. . . . , Weather is going to be a bit cooler in general towards the end of the week but the overall long range forecast predicts a very Warm Dry Summer with the usual Drought Warnings right through July and August. This is Dream Weather for the Pub business, lets hope they can make hay whilst the Sun Shines :-)

[ny boy] 11/6/2018 11:34

Baticle, keep drinking Sir!

Knowing... World Cup starts Thursday, let’s hope the decent weather keeps up and the drinking commences, England overdue a good run!

[spacecake] 11/6/2018 11:27

It's just an observation but the management seem to like buying things to do with beer volume increases not return on capital, profitability or improving total shareholder returns. The management are on a treadmill to nowhere.

[baticle] 11/6/2018 10:11

I own GNK also which I inherited from the Sprit Take over, Bought more when they were 492p but just to round my holding up. I feel Mars has a slightly better presence on the Brewing side and as I enjoy a good bitter I've been across the range of Marstons Offerings.

[jeffian] 11/6/2018 08:19

lief,

The previous post I referenced was in response to a question about why GNK traded at a premium to MARS and the answer is clear - they perform better! Why do I hold it? Because I hold a wide range of investments across all sectors but have a particular interest in the brewery/pubco sector as I used to work there. It fits a purpose - to provide a high and potentially growing income secured on a stable asset base - but I hold plenty of other stocks which produce good capital growth but less, little or even no income. Horses for courses.

[push n run] 10/6/2018 16:03

Yes, their management are rubbish. The problem is the terrible return on capital. They've loaded themselves up on debt and spent hundreds of millions of pounds over the last few years to grow the business. They've opened up new pubs and lodges left right and centre. And they're getting a 3% return on capital, which is pathetic.

That's why the debt looks so bad, and only ever goes up, because profits haven't increased as they should to match the spending.

[llef] 10/6/2018 13:38

Jeffian, (I'm genuinely interested in teh answer as I hold the shares), so are you saying Marston's management are a bit rubbish, and certainly not as good as GNK, and if so, why invest here given there are loads of listed companies, some of which at least, must have decent management?

cheers

[jeffian] 10/6/2018 11:56

#412 et seq,

The chart reflects the fundamentals. I highlighted the problem in a post comparing MARS and GNK -



The last time they paid a divi at this level was 2006. The last time they achieved eps at the current level was several years before that! They have not yet got back to the high point in earnings and divi achieved in 2008 (while GNK swiftly recovered from a dip in earnings and have grown considerably from 2008, meanwhile never cutting the divi and showing consistent growth in that too). So, yes, the share price reflects the shape it's in comparable to last time.

[jeffian] 10/6/2018 11:30

How do you do?

best regards,

A. Fool

[11_percent] 09/6/2018 22:39

MARS is a value trap.
Only a fool would be here for the dividend.