Marston's Share Discussion Threads

[2grimbo] 18/8/2010 17:13

good ale for drinking though

[eric gardener] 18/8/2010 12:22

this is cack

[eric gardener] 11/8/2010 20:29

thanks 1aws

I will check that out tommorow.

[1aws] 11/8/2010 19:33

Eric I found this:

Marston's Plc Travel & Leisure Equiniti, Lancing 0870 600 3953

perks requires 84 ordinary shares
Eligible shareholders are entitled to a Marston's Inns and Taverns Privilege card which entitles the holder to a 20% discount on food and accommodation at participating Martson's inns and taverns.

on this site:


I'm not sure if it still applies. Since I reside in Scotland and there aren't any Marston pubs up here, it is of no use to myself.

[jeffian] 11/8/2010 19:32

I'm a certificated holder and they do send out a bunch of discount vouchers with the report and accounts. If you hold in a nominee account, I'm sure you could get in touch with the Company Secretary with your shareholding details and ask for some.

[eric gardener] 11/8/2010 19:04

I couldn't see anything on the website about that. I suspect shareholders would have to pay more.

One thing you could do whilst visiting a marstons establishment is stand at the bar and proudly proclaim the fact you are a share holder in a raised voice.

And when you pay for your bottle of old empire - relax and be safe in the knowledge you're paying your own divi!

[diku] 11/8/2010 14:14

Do shareholders get a discount at MARS Pubs/Restaurants?...

[jeffian] 11/8/2010 12:49

That's the spirit, Eric!

8-)

[eric gardener] 11/8/2010 12:46

Don't worry about the short term noise boys, decent divi in december. Just enjoy owning them and help the co. by drinking copious amounts of their products!!

[milacs] 11/8/2010 12:27

Most sectors are performing poorly.

News flow is so negative nowadays that I would not be at all surprised by a double dip recession/depression.

M

[jeffian] 06/8/2010 14:47

The whole sector seems to be stuck in a bit of a rut at the moment, m, and I can't see that changing until there is some confidence that consumer spending is not going to be savaged by 'the cuts', higher interest rates, etc.

[milacs] 06/8/2010 14:07

It huffs and it puffs but it can't break through the 100p barrier.

M

[nellie1973] 06/8/2010 12:20

Tipped in press

[electronica] 05/8/2010 22:46

evox

Which broker were you quoting?

[evox] 05/8/2010 22:37

Upgrades - Following Marston's IMS this morning we are upgrading *
* our below consensus forecasts to reflect the stronger than expected *
* recent trading. Our target price increases to 105p (100p) and we *
* retain our Hold recommendation. *
* *
* > Forecast drivers - We increase our Managed LFL assumption from *
* +1.0% to +1.5% to reflect the stronger recent trading (YTD LFL *
* sales +1.7%) in addition we now assume a 60bp increase in margins *
* YOY (was 20 bp) in line with management comments. Our tenanted LFL *
* profit assumption also increases from -5.0% to -3.5%, reflecting *
* the stronger recent trading. Assumptions for FY11 (+2.5% managed *
* LFL sales and 0.0% tenanted LFL profits) remain unchanged. *
* *
* > Forecast increases - Overall our EBIT forecasts increase from *
* GBP144.9m to GBP148.5m for FY10 (+2.5%). This drops down to a 5.0% *
* increase in PBT (GBP73.5m) and an 8.0% increase in EPS (10.0p) *
* after allowing for a 22% tax rate (was 24%). For FY11 and FY12 our *
* EPS forecasts increase 6.4% and 4.8% respectively. *
* *
* > Management remains optimistic about FY11 - There are clear *
* consumer headwinds for FY11 but management is confident in passing *
* on the VAT increase in January and managing cost inflation. *
* Although there is growing pressure on food costs from the recent *
* spike in wheat prices, Marston's supply contracts are locked in for *
* 2-3 years. For tenanted pubs the substantive estate (c90% of *
* profits) has now stabilized and the strong performance of new *
* Retail Agreements gives management confidence that this business *
* could see growth in the medium term. *
* *
* > Valuation - The stock is trading on 9.8x FY10E PE and 8.5x *
* EV/EBITDA, in line with nearest peer Greene King (GNK.L; GBP4.47; *
* 1M). However, the higher proportion of tenanted exposure (c.50% vs *
* GNK c.30%) makes us more cautious. The group is delivering solid *
* single digit EPS growth and offers a strong dividend yield of c6%, *
* but we see little reason for the shares to be re-rated.

[evox] 04/8/2010 20:13

I agree with your posts above jeffian. It's the drinking houses that are struggling out here in the sticks but the places that can offer good food are doing OK. Of course you posh lot darn sarf have too much choice anyway! (just kidding)

[diku] 04/8/2010 13:29

I am a bit surprised by lack of volume on a trading update day..

[jeffian] 04/8/2010 12:54

Indeed. I know that my patch of West London is far from representative of the country as a whole, but all the empirical evidence here is that pubs with a decent food offering are doing very well from people who still want to go 'out' but maybe not the full restaurant thing. I was critical of MARS' move into new-build food pubs on non-traditional sites, but it seems to be going right for them at the moment.

[diku] 04/8/2010 12:34

That's why MARS is leaning more towards food & drink outing rather than just drink drink!...

[jeffian] 04/8/2010 11:31

Pretty solid results but the market just doesn't like pubs at the moment. My own view (and experience) is that pubs are far more resistant to pressure on consumer spending than the market gives them credit for. Theoretically, spending in pubs is 'discretionary' and among the first to be cut in bad times; I, however, tend to find that in practice it remains in the 'necessity' category!

8-)

[eric gardener] 04/8/2010 08:38

not bad at all.

[broadwood] 04/8/2010 07:18

Encouraging satement. Higher from here.

[eric gardener] 02/8/2010 13:00

a bit of buying pre update is uspect?

[diku] 30/7/2010 11:36

Guys trading update 4th Aug!...

[eric gardener] 28/7/2010 19:17

I don't know - possibly. I definately holding for the dec divi and beyond though.