Marston's Share Discussion Threads

[spencerfrater] 19/5/2011 20:19

I read their interim statement - the full thing. Nowhere does it mention the ex-div date. Only the payment date. Unusual. Anyone know what date it goes ex-div?

[fangorn2] 19/5/2011 09:21

Yep, long term hold. nice yield. One to tuck away and forget about it seems.

[redartbmud] 19/5/2011 09:10

wskill

Read what you say & agree it is going nowhere in the long term.

[fangorn2] 19/5/2011 08:25

Interims time...

FINANCIAL HIGHLIGHTS
· Group revenue up 2.8% to £317.9 million (2010: £309.2 million)
· Underlying profit before tax up 5.0% to £29.2 million (2010: £27.8 million)
· Marston's Inns and Taverns like-for-like sales up 2.4% with operating profit up 3.9%
· Marston's Pub Company operating profit up 0.3% with improving trends
· Marston's Beer Company operating profit up 1.4%
· Net debt of £1,105 million, slightly below last year
· Earnings per share and interim dividend:
- Underlying earnings per share up 7.9% to 4.1 pence per share (2010: 3.8 pence per share)
- Maintained interim dividend of 2.1 pence per share: increased dividend cover to 1.9 times

[wskill] 19/5/2011 08:18

Well done to the management sticking to their strategy its now starting to pay off 25 new builds a year a good long term hold for me.

[redartbmud] 15/5/2011 19:48

Spence

If you consider the fundamentals:
1. Some people are probably holding for the divi & will sell on results
2. The 2x underlying earnings is an important benchmark & I don't believe they will raise divi till they can see probability of hitting that target - unlikely at present last results not brilliant & nothing has changed in the company or the industry

[spencerfrater] 15/5/2011 18:54

Thanks jeffian. Makes sense.

At least we're still looking at roughly a 5% yield then (with 2% imminent). Not bad, although the technicals are saying the price will come off very soon. And that will probably be more than 2%... tough decision as to whether to stay in for the divi or realise a decent capital gain whilst it's still there...

[jeffian] 15/5/2011 18:23

Spencerfrater,

Not sure when ex-div but I think the chances are that the div will be held at the same level this year (2.1p interim/3.7p final). When MARS refinanced via the Rights Issue, they said that "The Board's policy remains to target dividend cover of around 2 times over the medium-term although the level of cover in any one year may vary." Last year's total div was only covered 1.72x by 'underlying earnings' and forecast 2011 earnings of 10.65p would still leave cover below 2x, so they may just leave it where it is until profits catch up and then move it up in line with future profit growth. Mind you, the get-out clause ("although the level of cover in any one year may vary") gives them some wriggle-room so they may increase it marginally for show, but I doubt it'll be much.

[mesquida] 15/5/2011 17:37

What update on Monday, mhw28865? I was under the impression that the interims were due to be released on the 19th - surely that is Thursday, not Monday!!

[spencerfrater] 15/5/2011 17:25

Anyone know what date it goes ex-div?
Any ideas on what the div will be?

[spencerfrater] 15/5/2011 17:09

Slow stochastic, RSI indicate there will be a pull-back before it goes higher

[mhw28865] 13/5/2011 10:29

I would expect some decent buys to come in this afternoon with update due on Monday. With the good weather it has been a bumper few months for Mars and i would i fully expect the share price to move above 1.20 next week.

[mhw28865] 10/5/2011 10:40

Looking very strong today just broke 1.10 bring on 1.20 ;-)

[1aws] 04/5/2011 09:00

Golden cross quite visible in this chart:

[fangorn2] 03/5/2011 18:52

More importantly, what's in it for Martsons.

Happy to let current management keep chugging away...

[jeffian] 03/5/2011 18:36

Little, I would have thought. What's in it for private equity?

[diku] 03/5/2011 14:51

What chance of a Private Equity takeover here?...

[1aws] 28/4/2011 08:36

Now within 0.12p of a golden cross. (50 day ema crossing 200 day ema) Usually a bullish sign.

Update: Cross formed (50ema 0.1p above 200ema). Someone is trying to keep this down, I think.

[diku] 27/4/2011 11:54

Once all the new build Restaurants are built...what would the net assest value be?...

[jeffian] 27/4/2011 09:57

Positive update from GNK today. Should be good for the sector.

[pajman] 26/4/2011 22:30

hiya guys, for t/a boys gap to fill at 116 ish see charts I.G., food looking good, contract brewing ( tetleys) taking up spare capacity.hmmmm only in for divi etc

[nellie1973] 26/4/2011 16:36

Broker note out-BUY

[diku] 26/4/2011 10:32

Royal feel good factor playing its part with companies that are offering food & booze...party time...

[deanforester] 26/4/2011 10:29

Thanks, 1aws.

Suddenly things are definitely perking up.