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
  +0.50p +0.41% 122.00p 122.00p 122.30p 124.50p 120.30p 124.10p 499,480 09:23:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 1,141.3 54.3 7.1 17.2 773

Marston's Share Discussion Threads

Showing 4476 to 4499 of 4775 messages
Chat Pages: 191  190  189  188  187  186  185  184  183  182  181  180  Older
DateSubjectAuthorDiscuss
25/4/2019
13:06
rofl. Every time it gets it's head a couple of three points away from 100p we start to get enthusiastic looking for the breakout and the move to 120p. Interim results due on 15th May. Will that help or will the likely dividend of 2.7p payable near the end of May push it back down to 100 again. I have no idea but it is nice to see it moving up these last few days.
cc2014
25/4/2019
12:17
Looking Good !
chinese investor
23/4/2019
20:53
Floating rate financial liabilities £679.5m Fixed rate financial liabilities £901.2m Total £1580.7 The weighted average interest rate of the fixed rate borrowings was 5.5% (2017: 5.2%) and the weighted average period for which the rate is fixed was 12 years (2017: 12 years).
spacecake
23/4/2019
10:20
That’s 40 minutes you were not drinking. Buying back shares at this yield is better short term.
deanowls
23/4/2019
10:18
Pubs were packed out over bank holiday took me 40 minutes to get served at one of them ,if we keep getting this mild weather more people drink and eat out , also buying beer and spirit for drinking at home , I have some green King shares which are doing really well , now thinking about investing in marstons as well , the share price seems at a good entry level and pays a good dividend
casino444
19/4/2019
08:30
Read Notes 19 and 20 in the Report & Accounts. Securitised debt £781.1m, broken down in tranches, the last of which expires in 2035. Each tranche has a step up, based on 3 month LIBOR plus a fixed percentage, and each step up is triggered, at a fixed date, written into the agreement when the debt was taken out. The debt is secured on the pub estate, with restrictive covenants. Other borrowings amount to £799.6m Total debt £1580.7m (£1532.7m 2017) Interest paid on the securitised debt was £46.2m = 5.892% pa
redartbmud
19/4/2019
07:34
Spacecake. I've read the accounts. Much of the debt isn't fixed rate/long dated swaps. I'm not sure what point you are trying to make. Are you suggesting low interest rates is a bad thing for MARS?
cc2014
19/4/2019
00:54
Space - V.significant, long dated interest rate swaps
ianood
18/4/2019
18:10
CC2014 How much of the "debt pile" has a fixed interest/ coupon rate, have you checked ?
spacecake
18/4/2019
06:49
I am puzzled. It is clear from the bond markets that interest rates are going to stay lower for longer than anyone expected. This, will be good for MARS given their debt pile as means the interest bill isn't going up and a longer timeframe to get the debt pile in order. Yet, the share price is still stuck. Falling again albeit slowly if anything. Answers on a postcard please?
cc2014
17/4/2019
19:21
redartbmud - im glad youre pleased with the new chairman. I didn't take to him too much at the AGM. He made great play of being new, listening to institutional analysist/shareholders and directing a new course due to the poor share performance of late. However, I've not forgotten the shares fell sharply on the day and haven't yet recovered. I can only conclude his medicine hasn't been taken well by the patient. Coupled with not taking ownership of the AGM timing/lunch debacle which was changed 'following feedback' according to HIS AGM invite, I'm none too impressed.
quady
17/4/2019
19:15
Jeffian - selling off non core assets will as you suggest be largely profit neutral in the short turn due to the loss of income. However, it does/should improve the debt metrics meaning refinancing should be less costly. Also should help the rating of the business in potential investors eyes. I dont think it's even as good as the modest debt reduction appears to be, it's a token gesture but one in the right direction.
quady
17/4/2019
19:03
Yes, there is a remuneration issue and at the same time the board whinging about the rise of the living wage for the many low paid employees.
spacecake
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
Chat Pages: 191  190  189  188  187  186  185  184  183  182  181  180  Older
Your Recent History
LSE
MARS
Marston's
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20191014 08:42:41