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Share Name Share Symbol Market Type Share ISIN Share Description
Marston's Plc LSE:MARS London Ordinary Share GB00B1JQDM80 ORD 7.375P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.10p +0.09% 114.30p 114.40p 114.60p 115.70p 113.70p 114.40p 1,795,016 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 1,141.3 54.3 7.1 16.1 724.65

Marston's Share Discussion Threads

Showing 4451 to 4475 of 4575 messages
Chat Pages: 183  182  181  180  179  178  177  176  175  174  173  172  Older
DateSubjectAuthorDiscuss
17/4/2019
17:59
Hello jeffian Certainly your points are valid about the eps growth being sluggish - i think though if we factor in the high dividend yield being paid out (£45 mill last year alone cash wise) i will forgive them the 66 mill share issue - with regard to the Charles Wells addition - i wasn't presuming this would necessarily pay for itself or be earnings enhancing immediately i do believe they have paid a decent % of the price for the brand names which will have an enduring value other than probably the Mcewans :) at least we all agree on the remuneration issue if perhaps not everything else.
rmillaree
17/4/2019
14:11
jeff I don't think that the debt reduction plan is in response to market forces, it is as a result of the new Chairman's review of the business, following his joining the business. Unlike the previous incumbent, he has an understanding of business. Your last post demonstrates that the company is just sprinting to keep paying interest on the debt. Any significant downturn, and the annual finance cost of the debt would exceed profits. rmill The pub estate of 10 years ago was certainly not fit for purpose, in the modern era. Small 'spit and sawdust' outlets, on street corners of poorer areas. The wet led trade has significantly reduced and many of the properties were relatively old, and undoubtedly expensive to run, relative to the returns. It is not surprising that they have struggled to unload them on the property market. The investment in food led, family aimed pubs was necessary, to meet modern day requirements, but it has come at an additional capital cost. Just a pity that they could not have offset more value from the disposals from under-performing outlets against the new pubs. Perhaps the evolution of the business might have been carried out more aggressively. Certainly executive remuneration has been maximized, at the expense of mediocre performance.
redartbmud
17/4/2019
13:25
But you're not comparing like with like. They've bought Charles Wells since then, adding £92m of turnover and £6m of EBIT, they've raised £80m equity cash and increased shares in issue by 66m! Just increasing the size of the company and looking at headline figures does not represent shareholder value. Look at earnings per share 2012 - 12.3p 2013 - 12.3p 2014 - 11.7p 2015 - 12.8p 2016 - 13.9p 2017 - 14.2p 2018 - 13.9p That's +13% over 6 years, and not even in a straight line. Sluggish?
jeffian
17/4/2019
12:14
I think the debt profiile always did indicate that they would start to be be paying down the debt over the next year years anyway - lets be honest the market thinks the debt is toppy and to me therefore it does make sense to sacrifice the dividend somewhat. Note last year operating profit was 182 mill and finance costs were 79 mill - so there is potential for profits to be 80% higher if they can clear the debt - ok that ain't gonna happen in under 15 years but a slight tweaking in this direction now they have a decent amount of the new bigger and more profitable outlets up and running they are in a stronger position than they would have been had they not invested. It was some decent wads spent on the newer places over the last few years - so a little less spent in that direction and pimping the good cashflow is ok by me. I think there are less cracks that need papering over in their estate than there was 5-10 years ago ? Looking at the underlying profit over the last 5 years this has showed acceptable growth from 82 mill to 104 mill in 2018 and the brewing side has increased underlying profit from 23 mill in 2015 to 32 mill in 2018. In a tough marketplace i personally don't think Mars has done much wrong (other than be to generous to the executives) over the last 5 years and the slight change of tack ref debt is to be welcomed.
rmillaree
17/4/2019
10:33
I still think that's missing the point, red. Reducing debt is responding to market pressure (EIG are doing the same) and will no doubt be welcomed, but it makes very little, if any, difference to profitability. All they save themselves is the cost of money - probably 6-7% in MARS' case - and that will be offset by the loss of income from asset disposals. If they were serious, they really need to review their whole brewing structure - however much it may please the CAMRA brigade, having a range of medium-sized breweries producing niche products and cheap packaged beer for supermarkets to sell as a loss-leader is not a recipe for growth.
jeffian
17/4/2019
08:24
Met the new Chairman at the AGM. I formed the opinion that he would not let the business remain in sleepy valley. It is no coincidence that their first move is to reduced debt by £200m, although the shareholders are made to pay, as dividends are frozen for the next 4 years, whilst executive pay is not!!
redartbmud
17/4/2019
05:33
Masons. My guess is that the Chairman may or may not have more in store than just a crack of the whip...... It was interesting to witness the recent break-up/restructuring of Fullers. ALL IMO. DYOR. QP
quepassa
16/4/2019
23:05
It's very difficult to overstate how this company management can confound it's shareholders more than politicians have the people who put them there. Chairman, just get the whip out and get cracking !
spacecake
15/4/2019
14:02
Agreed. https://uk.advfn.com/cmn/fbb/thread.php3?id=15966794&from=3114&to=3114
jeffian
15/4/2019
13:46
Looks like BOD has a special place in hell for the shareholders, a everlasting purgatory of poor returns and long term debt cooked up with banking fat cats.
spacecake
15/4/2019
09:19
Friday. Peel Hunt DOWNGRADES from Buy to Add and REDUCES Target Price to 115p (from 125p)
quepassa
11/4/2019
17:13
No, it will never be an Asos, but it does need to be a Greene King or other comparator in the sector. The reason the share price stands still is that profit growth (not revenues) has been so turgid and the Board doesn't even seem to recognise it as a problem. I've been in the industry myself so I recognise the attitudes - the sense of history, the attachment to the brewing process, a slightly paternalistic approach - which has led them to go on doing the things they've always done and to keep investing substantial amounts in brewing when that isn't where the returns are. The guy above who referred to the Fullers sale is spot on - if the likes of Fullers and Youngs are giving up brewing, they need to look at why that is and ask themselves some questions. Sure, it'll chug along, but that just isn't good enough and management need to be shaken up.
jeffian
11/4/2019
15:46
I hope so. I've been holding a small amount for a while and I'm on a 22% loss with no cash to average down. More beer needs drinking. I shall do my part !!!
philoosh
11/4/2019
15:18
I just think this is a totally undervalued company and one of the few that Brexit will not affect unless it turns more people to drink. So I can see it beating on both This will never be a Asos type share with massive fluctuations but in 3 months time I am confident it will be at least 10% above today's price
poolies3
11/4/2019
15:18
I just think this is a totally undervalued company and one of the few that Brexit will not affect unless it turns more people to drink. So I can see it beating on both This will never be a Asos type share with massive fluctuations but in 3 months time I am confident it will be at least 10% above today's price
poolies3
11/4/2019
12:30
You never know philoosh,,,,,,,,,the results may just achieve that :-)
cheshire man
11/4/2019
12:03
In revenue or profit/eps? They are better at the former than the latter.
jeffian
11/4/2019
11:10
Results next month Comparisons with last year must be excellent considering the weather factor and I can see a 10% rise
poolies3
10/4/2019
12:36
Will this share ever get above £1 and stay there?
philoosh
02/4/2019
08:46
This is about the fifth time I have held MARS, and all previous efforts have ended in nothing better than break even, and that was only thanks to dividends. This time however I am in proper actual genuine bedouine cross-my-heart-and-hope-to-die profit, before even receiving any divis. Yay. I also like their beer.
thamestrader
02/4/2019
08:36
I'm £19 down on my investment !
chinese investor
02/4/2019
08:33
I'm going to nervously say we've finally got the right side of 100 and are likely to stay there. A run up to 120 in the first instance would be nice.
cc2014
19/3/2019
15:56
All Good !
chinese investor
18/3/2019
12:36
cheers to you too. best. qp
quepassa
18/3/2019
12:22
OK - point taken. Cheers, PJ
pj fozzie
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