Marston's Share Discussion Threads

[wigwammer] 19/3/2020 15:45

Perhaps you also shorted CINE at 20p.Go take a look.Sleep well now :)

[janekane] 19/3/2020 15:44

Shorters nervous
you must be joking this is going down a lot further

[wigwammer] 19/3/2020 13:59

The shorters and those who sold at the lows are clearly nervous.Perhaps they should be. Just look at what's happened to Cineworld over the last couple of days - a similar geared play that the man on the street thought was finished :)

[cokehookerscars] 19/3/2020 10:44

I was just copying the RNS into here. It is what it is. No agenda from me.

[jeffian] 19/3/2020 09:19

Hardly a "de-ramp"; it's an RNS!

Young's announced this morning that they're giving all their tenants a 3-month rent 'holiday'. Stick that in your cashflow model for MARS.....

[john09] 19/3/2020 07:41

Nice de-ramp. The RNS was yesterday though and the price reacted by going up 50% try harder

[cokehookerscars] 19/3/2020 07:38

Interim divi gone.
If this company survives it will do fine in the recovery phase after Covid.
However it will be several months, perhaps a year it has to ride out.

UK Regulatory (RNS & others)

TIDMMARS

RNS Number : 5382G

Marston's PLC

18 March 2020

18th March 2020

MARSTON'S PLC

COVID-19 Update

Marston's provides the following update in light of the Government's advice to the general public earlier this week to avoid pubs and other hospitality venues in order to contain the spread of the COVID-19 virus.

For the 24 weeks to 14(th) March 2020, like-for-like sales in our pubs were 1% below last year. In Marston's Beer Company, beer volumes are in line with expectations. Although recent trading has been impacted by COVID-19, this has been marginal to date and pub like-for-like sales have been broadly flat over the last two weeks. That said, we anticipate that the Government's advice will result in significantly lower sales in the coming weeks.

Given the ongoing uncertainty, we are unable to quantify the impact of COVID-19 on our financial and trading performance at this stage, however we expect a reduction to our expectations for Financial Year 2020 . The scale of this will depend upon how the situation develops and over what timescale, and the impact of further measures taken by the Government.

We are taking an extremely prudent approach and being cautious in our management of the business during this period of unprecedented uncertainty.

In 2019, we commenced a debt reduction programme, with a target to reduce debt by GBP200 million by 2023. We have made good progress towards that target, having ceased the new-build programme, reducing capital expenditure by approximately GBP80 million per year and increased the disposals target for this financial year from GBP45 million to GBP85-90 million.

In addition, we have taken the following actions:


- We have significantly reduced capital expenditure for the foreseeable future.
- We are reducing overhead and other variable costs.
- Working capital, including stock levels, is being managed very tightly.
- Recognising that tenants and lessees face similar challenges, we have reassured them that we will suspend rent on a case by case basis where it is appropriate to do so.

- We have completed GBP60 million of disposals in the year to date. Given this, and based upon transactions in the pipeline, we retain our full year target of GBP85-90 million.

Recent statements from the UK Government suggest that the current state of much reduced social activity is likely to continue for several months at least. If that is the case, it is unlikely that an interim dividend will be recommended in May, retaining c.GBP20 million in the business.

We have appropriate headroom on both our bank and securitised facilities, supported by a 93% freehold estate. As a consequence of this, and the actions we have taken to date, we believe that we have sufficient liquidity to maintain operations at a materially reduced level of business. In addition, we are having discussions with our banking group about the provision of covenant waivers for the second half-year, in the event these should be required. Whilst at an early stage, those discussions have been constructive.

In addition to the above, we welcome the measures outlined by the UK Government yesterday to provide support for the hospitality sector. The overriding message was 'we will do whatever it takes' to 'support jobs, income and businesses'. The measures proposed include the provision of GBP330 billion to provide liquidity for businesses, and significant reliefs for business rates and rent. Further measures are to be proposed which are intended to support employment. Whilst the full details of these proposals have still to be scrutinised, they represent good progress towards the very significant commitment which the hospitality sector requires from the Government, and an acknowledgement of the importance of pubs to jobs, the economy, and communities.

[john09] 18/3/2020 21:27

Clickbait is back

[luderitz] 18/3/2020 18:57

Not quite 43% then P45?

[gswredland] 18/3/2020 18:57

Agree Porsche
Debt far too high.
Don’t hold any position here

[smithie6] 18/3/2020 17:38

nah, unless beer suddenly goes out of fashion (!!) then it'll survive

if they need any cash to survive they can borrow as much as wanted from the Govt.
& various Govt/city fees have been cancelled; & cheap

:-))

[porsche1945] 18/3/2020 16:19

These cant survive with the debt they have, bond holders to shortly take control and shareholders wiped out.

[luderitz] 18/3/2020 14:56

Up 43%! Well done to anyone who benefited from that✔️

[john09] 18/3/2020 14:53

Plenty of upward pressure

[john09] 18/3/2020 12:10

100,000 for me at 26p

[baticle] 18/3/2020 12:03

It's maddness, Right or wrong I've bought more stock... The way I see it if things sort themselves out and this situation passes, then there's money to be made...It wouldn't suprise me if they axed this years Dividend though as they've already done so with the interim one and if the virus see's the majority of us off then i probably won't be around to get upset about my losses anyway so ..... Sit tight and get some Estrella & Hobgoblins in to watch with your favourite Box Sets.

[mr_spock] 18/3/2020 11:53

Think I'll drink the whole pub dry tonight, and then maybe I'll wake up in June and this will all be over?

[jeffian] 18/3/2020 11:34

So's everything else. Panic, panic.

[jeffian] 18/3/2020 11:34

So are toilet rolls!

[chinese investor] 18/3/2020 11:32

Marston's beers are flying off the supermarket shelves !

[quepassa] 18/3/2020 10:33

not a chartist.

a fundamentalist
... and a realist.

all imo. dyor.
qp

[smithie6] 18/3/2020 10:19

intraday chart Im looking at shows it going up

which chart r u looking at ?