Marston's Share Discussion Threads

[skinny] 01/4/2015 13:32

Yes, I'm pleasantly surprised - 159.30 @17 month high.

[lord gnome] 01/4/2015 13:23

The market likes the deal - clearly. We have a major breakout from the trading range of the last eighteen months.

[spacecake] 01/4/2015 12:31

IMV the money would have been better spent paying down the debt mountain which would also be earnings enhancing.

[redartbmud] 31/3/2015 17:28

At least it creates more production volume within the business itself, although the output will be going to a competitor within the industry.

Knowing the company, I am not convinced that they have run out of disposals. There are still underperforming pubs in the estate that could be released, at the right price, to free up much needed capital for reinvestment in more profitable areas. It would also underpin the asset prices held in the balance sheet.

[apad] 31/3/2015 17:03

Thanks jeff, missed that one.
I guess they have been working together so long that it should be mutually beneficial.
More debt though.
apad

[jeffian] 31/3/2015 16:26

Acquisition of the Thwaites brewing business with an exclusive deal to supply the Thwaites estate looks a useful deal. Immediately earnings-enhancing. MARS is never going to set the world alight but as long as it toddles along growing steadily and paying a div, I'm quite happy.

[philanderer] 23/2/2015 20:30

Telegraph:

"Pub group Marston’s was lifted 4.1p to 153.4p after Panmure Gordon turned positive and upgraded the shares to “buy”.

“After five years of earnings-dilutive disposals, we believe Marston’s is finally reaching an earnings inflection point,” analysts at the broker said. “Beyond 2015, disposals will slow materially and we forecast accelerating earnings growth.”

[redartbmud] 23/2/2015 14:25

Good to know that the CEO job at Mars isn't taking up too much of his time then.

[skinny] 23/2/2015 14:22

Marston's PLC (the "Company") today announces that Ralph Findlay, Chief Executive Officer of the Company, will be appointed a Non-executive Director of Bovis Homes Group PLC with effect from 7 April 2015. Ralph will also be a member of the Nomination Committee, Remuneration Committee and Audit Committee and will chair the Audit Committee from the conclusion of the 2015 AGM.

[lord gnome] 23/2/2015 12:41

It might just last this time around. The recent move higher has been a lot steadier and has all the hallmarks of a sustained uptrend rather than top-of-range trading. I live in hope.

[redartbmud] 23/2/2015 10:41

jeff

Don't panic, it won't last.

red

[jeffian] 23/2/2015 10:34

Getting perkier. About time!

[redartbmud] 27/1/2015 17:44

Skinny

Yes BUT cover down to 1.7x from 1.9x in previous year. Target 2.0x over the 'medium' term. Safe for now ....

[skinny] 27/1/2015 13:28

Agreed - I'll just keeping taking the dividend.

[lord gnome] 27/1/2015 13:25

How on earth can we be down after an update like that? Shares Rag see the positive.

hxxp://www.sharesmagazine.co.uk/news/cheers-to-marstons#.VMeRgku_2bC

[lord gnome] 27/1/2015 07:29

Nice statement. Nothing there to worry about. Will add on any sign of weakness.

[skinny] 27/1/2015 07:04

Canaccord Genuity Hold 146.95 150.00 150.00 Reiterates

Numis Buy 146.95 180.00 180.00 Reiterates

JP Morgan Cazenove Neutral 146.95 155.00 155.00 Reiterates

Panmure Gordon Hold 146.95 150.00 150.00 Retains

N+1 Singer Buy 146.95 170.00 170.00 Reiterates

Deutsche Bank Hold 146.95 170.00 170.00 Reiterates

[skinny] 27/1/2015 07:03

Marston's issues the following Trading Statement for the 16 week period to 24 January 2015 in advance of the Company's Annual General Meeting to be held at noon today.

Trading
Our performance in the financial year to date has been encouraging, including good trading over the Christmas and New Year period. Profitability is in line with our expectations.

In Destination and Premium, like-for-like sales were 2.0% ahead of last year with both food and drink like-for-like sales growth of 2.0%. In the key two week Christmas trading period to 4 January trading was particularly strong with growth of 4.8%, including 12.5% growth on Christmas Day. Operating margins are ahead of last year and our plans to open at least 25 new-pub restaurants in the current financial year are on track, with eight openings expected in the first half.

In Taverns, managed and franchise pub like-for-like sales were 2.0% ahead of last year, with 2.7% growth over the Christmas fortnight and 5.8% growth on Christmas Day. Our franchise model continues to prove successful, providing motivated licensees with local flexibility and reduced risk while improving the quality, consistency and value of the consumer offer.

In Leased, profits were around 1% ahead of last year.

In Brewing, performance has been strong with Group Ale volumes up 4% in the year to date, underpinned by a very strong performance in the off-trade, with volumes up 8%. Hobgoblin, our biggest brand, continues to perform well, with volumes up 10% in the year to date.

We will announce our Interim Results for the 26 weeks to 4 April 2015 on 14th May 2015.

Commenting, Ralph Findlay, Chief Executive, said:
"We have again traded well over the Christmas period, with good sales growth over the key Christmas fortnight for the third year in succession, including serving a record 60,000 meals on Christmas Day. This performance demonstrates that our customers remain attracted to the consistency and value for money we offer, underpinned by excellent service in a high quality environment. In addition, our Beer business continues to perform well, with a particularly strong performance in the off-trade. We remain confident of achieving our expectations for the full year."

[cerrito] 07/1/2015 11:15

sorry duplication

[cerrito] 07/1/2015 11:15

Interested to read in today's Canaccord listing of Preference shares a mention of the Marston £75m prefs with an indicative quote to buy at 120.
Had not been aware of these and see that they are undated pay 6% plus an extra 1% if £24k of ord dividends have been paid.
Not for me as I have no desire at the moment to buy undated paper and also given such a small issue will be problems with marketability. Assuming you get 7% that means a bond equivalent yield of 7.27% which is lower than bank preference shares and a premium over BP's undated prefs of 6.84%.
I mention it in case of interest to others.

[lord gnome] 17/12/2014 20:22

gbb483 - I should have waited for just a few minutes and bought at 138p.
Not worried about the drop on ex-div tomorrow. It's money in the bank for February and the drop will be recovered quickly enough.

[gbb483] 17/12/2014 18:20

I would've waited a day or so - they're ex-div tomorrow and the could easily drop by more than the dividend in the current market.

[lord gnome] 17/12/2014 09:52

Morning all,
Joined you with a few this am @ 141p. Banking on a good post-Christmas trading update to send the shares higher.