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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mitchells & Butlers Plc | MAB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.00 | 1.65% | 246.50 | 16:35:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 239.00 | 239.00 | 247.50 | 246.50 | 242.50 |
| Industry Sector |
|---|
| TRAVEL & LEISURE |
| Top Posts |
|---|
Posted at 07/12/2022 13:35 by darrin1471 All shareholders of Mitchells & Butlers receive ONE shareholder discount voucher booklet containing 12 vouchers in late December/early January of each year, irrespective of their shareholding size. The record date for the receipt of shareholder discount vouchers changes every year in line with the production of the Annual Report. The date has yet to be announced but will be towards the end of November/early December 2022.One voucher entitles the holder to 20% off the TOTAL bill when purchasing a main meal in any of our pubs and restaurants. The vouchers are valid every day except Christmas day, and can be used for up to 10 people. |
Posted at 15/6/2022 15:57 by m_kerr one thing they could do to save money is abandon their investor relations department, which exists in name only. |
Posted at 09/6/2022 21:26 by m_kerr charts mean nothing to me, not when you have an almost fully freehold estate, intrinsic value doesnt move around all that much. nowhere near the swings you get in the stock market anyway. the value of a freehold pub doesnt go from £500k to £2m, and back to £1m over the course of a couple of years.cJohn - IMV the major squeeze is over now that they raised a fair wedge of capital and covid is mostly behind us. net financial debt is actually very modest, the issue is the onerous repayment terms and above market interest rate of 6.3%. IMV going forward they will be marginally profitable or break even in terms of cash once you consider all the fixed charges (pension, leases, securitisation) and then capex. headroom rises a little once the pension is mostly out of the way (18 months). but i always look at what can go wrong, and there's a decent possibility of more equity being needed (30-40% likelihood IMV). inflation, labour, cost of living squeeze are all concerning investors, and hence you get to buy the stock at a 35-40% discount to freehold value, a value which IMV is likely to be a gross underestimate. in any case support for any capital raise is guaranteed as there is a highly valuable property estate with net assets of some £3.50-4.00 per share conservatively. this is not like mccolls where there was zero value and so no point raising equity. |
Posted at 18/5/2022 18:45 by m_kerr it's all about the onerous securitisation here. decent figures in the circumstances, but they're still down about £30m because they're locked into paying double the going rate for property secured debt.on an asset based measure this is still absurdly cheap. your talking about a 35% discount to net book assets, which IMV is itself grossly undervalued. the alternative use of some of their huge 1.5- 2 acre + sites in pricy residential areas is likely to be well in excess of the valuation that depressed figures for fair maintainable trade produces. at this price private equity could inject £500m of capital to secure the future of the business, and still be buying in at a huge discount to value. then look at running the business more efficiently to drive up returns on capital and sell off parcels of land to raise cash. weaker competition will go bust IMV, leaving fewer options on the table. this is a great entry price to investors willing to look through the noise and uncertainty to see the assets on offer. |
Posted at 06/4/2022 19:17 by m_kerr the odyzean 55% shareholders are basically going to end up controlling this company one way or another.my guess is that they will underwrite future equity raises, thus increasing their percentage ownership over time. remember they need to generate £250m of EBIT just to fund the mandatory bond payments and pension top up. once the pensions been topped up this falls to about £200m. at the best of times they generated about £320m of EBIT, giving them minimal cover. realistically they will struggle to make these payments. there's just too many inflation headwinds. wages, food prices, energy, construction. they may benefit from a contraction in pub / restaurant supply, but you can't squeeze blood from a stone - customers are struggling financially. if odyzean take over through stealth (if they haven't already), i.e. by underwriting future equity raises, they'll effectively be taking over the company without having to pay a premium. the price could be set a little above what other investors would stomach, but well below intrinsic value, for instance. it's worth their while doing that as they'll be taking over £4bn+ of property at a hefty discount. such a shame as there's nothing much wrong with this company - other than the onerous securitisation. market rate interest on £1500m of secured debt would be only about £50m per annum. |
Posted at 21/3/2022 20:09 by m_kerr sale and leaseback won't happen review - why pay 5%+ RPI linked yields in rent, when you can borrow at 3-4% not indexed linked? plus you lose control of the property and lock yourself into potentially unprofitable sites for the long run.bad / short term thinking management teams used to do s&l to con their investors that leverage was lower than it really was. IFRS 16 now means they have to put lease debt in full view on the balance sheet. it's destroyed a lot of value at companies like tesco and sainsbury's and led to the demise of debenhams. |
Posted at 15/2/2016 12:22 by togglebrush PressFeb 12th, 2016 Mitchells & Butlers plc (LON:MAB)‘s stock had its “buy” rating reissued by investment analysts at Goldman Sachs in a research report issued to clients and investors on Friday, Market Beat reports. They presently have a GBX 410 ($5.91) target price on the stock |
Posted at 18/12/2009 06:58 by togglebrush Press ExtractShareholders in Mitchells & Butlers (M&B) have been urged not to lend their holdings in the pub operator before a showdown vote on the election of four directors put forward by rebel investors. In what is thought to be an unprecedented joint statement, two leading shareholder bodies also called on their members to reclaim any M&B stock out on loan to hedge funds and other traders as soon as is practically possible. |
Posted at 19/6/2009 18:15 by timbo003 Piedmont = Shrewdie investor Joe LewisI fear that M&B's days as a listed company may soon be over (oh dear what a shame that would be!) |
Posted at 17/6/2009 12:39 by history man I think i'm selling!!! fed up with waiting in hope that this lot may turn themselves round. Never any good news they just don't know how to manage positive publicity!!!!Investors just look at Punch SP; this will implode and the bondholders will have to then sell off in pieces |
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