Marston's Share Discussion Threads

[skinny] 27/1/2012 07:06

AGM AND INTERIM MANAGEMENT STATEMENT

16 weeks to 21 January 2012

27 January 2012

Marston's PLC issues the following Interim Management Statement for the 16 weeks to 21 January 2012 in advance of the Company's Annual General Meeting to be held at noon today.

Trading

Our trading performance has been strong over the Christmas and New Year period. Profitability is in line with our expectations and we continue to make good progress in each of our trading divisions.

In our managed pubs, like-for-like sales for the 16 week period were 5.0% ahead of last year, including like-for-like food sales growth of 5.5% and like-for-like wet sales growth of 4.8%. Like-for-like sales in the eight weeks to 21 January were up 7.0% against comparatives which were affected by exceptional wintry conditions in December 2010. Operating margins are in line with last year and our plan to build around 25 pub-restaurants in the current financial year remains on track.

In our leased, tenanted and franchised pubs, profit trends have continued to improve. Profits for the 16 week period are estimated to be around 3.0% above last year, with 4.0% growth in the eight weeks to 21 January. This improvement reflects the continuing success of Retail Agreements, our franchise model, which now operates in over 360 pubs.

In Marston's Beer Company, our brands outperformed the market with own-brewed beer volumes 2% above last year. Our established strategy of focussing on premium ale brands and local beers with genuine provenance has contributed to this good performance, with premium cask ale up 3% and bottled ale up 7% compared to last year.

Net debt and cashflow are in line with our expectations.

Outlook

We are expecting the challenging consumer environment experienced in 2011 to remain in 2012. However, our focus on value, service and quality; the performance of our new-build pub-restaurants; the success of franchise agreements; and the benefits of enhanced commercial support to our tenanted and free trade customers have all contributed to the positive performance to date. We remain well positioned to make progress on our key objectives of sustainable growth, improved return on capital and reduced leverage.

We will announce our half-year trading update on 14 March 2012 and our Interim Results for the 26 weeks to 31 March 2012 on 17 May 2012.

[redartbmud] 26/1/2012 21:09

PS

Going to AGM tomorrow to give Board some grief - they deserve it.

[redartbmud] 26/1/2012 21:07

3d

If only.....

[3dwd] 26/1/2012 08:42

a good year ahead for Marstons ,,, 120p

[dugganjoe] 21/1/2012 14:14

this is going to rocket this week imho. feel in me waters have to gonna buy more ;0)

[hyden] 20/1/2012 18:58

Not keen on Sneck Lifter, Much prefer hobgoblin, myself.

GNK hit a 2yr+ high yesterday so let's hope some of that rubs off on Marston's. :-)

[bigbertie] 20/1/2012 11:00

I shall have a celebratory bottle of Sneck Lifter on 10/2/12 if you are right! Here's hoping.

[rmillaree] 20/1/2012 10:47

Hey i am no chartist but lets be positive (it is nearly the weekend) the chart looks good to me and based on next years forecast EPS of 12.6p - a quick rise up to 110p seems entirely justified.Lets say 5p a week , that makes 110p on 10/2/2012 - lets just hope the world doesn't end before then.

[bigbertie] 20/1/2012 10:18

dugganjoe - must be a distant view, are you using binoculars?

[dugganjoe] 20/1/2012 10:12

up up up and away 110p in view

[bigbertie] 20/1/2012 09:13

something happened a few minutes ago? share price going vertical.

edit - well only up one penny actually but it looked good on the chart

[dugganjoe] 20/1/2012 07:52

trad stmt soon?

[dugganjoe] 19/1/2012 08:21

rock on tommy±

[jeff h] 17/1/2012 09:01

Good strong IMS from Greene King today - augurs well for when Marstons give an update at their AGM in a couple of weeks.

I've mentioned before the stock should be re-rated....hopefully the update will add fuel to that view.

"Shore Capital expects the pub sector to report positive like-for-like sales momentum, benefiting from the milder winter weather. In a highly fragmented market, the broker sees potential for consolidation activity and believes that a number of stocks could be rerated over the year. Shore's stock of choice is Marston's (MARS), due to steady progress in its rollout strategy and low valuation. The shares edged down 0.3p to 91.45p."

[philanderer] 21/12/2011 16:45

Elsewhere today, broker Numis said its key picks for 2012 were Dominos Pizza (LON:DOM), Marstons (LON:MARS), and Spirit Pub Company (LON:SPRT) in a note today.

[skinny] 06/12/2011 13:56

3.7p making 5.8 total.

[baracuda2] 06/12/2011 13:45

Thanks very much, I should check myself but any idea what divi they are paying

[skinny] 06/12/2011 13:39

Wed 14th December.

[baracuda2] 06/12/2011 13:38

Can someone tell me when these go ex dividend please?

[pherrom] 02/12/2011 10:36

One of the non-executive directors has just bought 100,000 shares; I wish him well with his purchase.

[spacecake] 30/11/2011 18:40

Numis welcomed the report form Marston's, which it said was ahead of its expectations, prompting the broker to repeat its "buy" recommendation for the stock and its target price of 130 pence.

"We view Marston's as a core sector holding, offering attractive defensive, self-financed growth and income. The banks may agree, having extended the bank facility to May 2016 at no extra profit and loss cost," said Numis analyst Douglas Jack.

Shares in the pub group traded at 98.55 pence, up 5.5 percent from yesterday's close. Sage also did well, rallying 3.5 percent to 284.8 pence.
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Today... Investors Chronicle
IC VIEW:

Like-for-like sales since the year-end are 3 per cent ahead at the managed pub division and profits are up 2 per cent at tenanted pubs. But the dire consumer outlook and expectations of rising costs should temper excitement, despite attractions for income hunters. Fairly priced.

Last IC View: Fairly priced, 109p, 23 May 2011



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Today.... www.FT.com
Karl Burns, an analyst at Shore Capital, said Marston's had been boosted by a "robust" start to the year.

"Current trading is encouraging with managed like-for-like sales ahead 3 per cent for the first 8 weeks of the new year – we would expect the unseasonable weather to have helped," he said.

[jeff h] 30/11/2011 16:18

Evolution Securities has reiterated its buy recommendation on pubs owner and ale brewer Marston's, saying that the group delivered exactly as it promised in its full-year results.

"The 'self-help' agenda is now yielding results and this should translate through to rising cashflow and to fund a progressive dividend for income-hungry investors," said analyst Nigel Parson.

Evolution Securities keeps its 140p target.