Punch Taverns Share Discussion Threads

[georavello] 24/3/2010 08:48

Hopefully heading up near 90p

[aspers] 10/3/2010 12:13

With world cup fever just around the corner I feel this is a steal at this price....would be looking at this being 100p plus by the end of the Summer??

[jeffian] 06/3/2010 12:30

Hmmmm. I'm inclined to think the latter. The concept of trying to attract better-educated people into the trade is all very worthy but I'd have liked to see the training long before they let them anywhere near a pub which requires a mix of fairly sophisticated financial, management, administrative and 'people' skills. Bass (MAB now) used to run a brilliant graduate trainee scheme for pub managers and it's got to be better to be paid while you're training than go into something as a complete beginner and risk getting into a bigger financial mess. In my experience, most students/graduates have enough trouble managing their bank accounts, never mind a business potentially turning over several £000 a week!

[timbo003] 06/3/2010 07:36

Inspiration or desparation?



I'm inclined to think it's the former (but Punch will need to be very picky about who they recruit), I'm but still watching on the sidelines at the mo'.

[jeffian] 05/3/2010 09:56

The latest report from the BEC on the 'tie'.



Only had a quick breeze through it but, despite much wailing and gnashing of teeth, the effect is that the issue is kicked into the long grass til July 2011 and they are going to give self-regulation one last shot. So that'll be no change, then!

[crosswire] 26/2/2010 09:38

O/T

GFRM

Galiform results out next week.....

"It is now expected that profit before tax for the year will be comfortably above the top end of the current range of market expectations."

[13matt13] 22/2/2010 12:53

Day trade this as usual.

[careful] 22/2/2010 10:48

share price is looking stronger.
let us hope the worst is over.

[careful] 20/2/2010 12:48

pre pack idministration is a complete racket.
it gives the current management a huge incentive to fail.

[timbo003] 20/2/2010 08:01

This doesn't sound like particularly wonderful news for Punch and Enterprise (or for numerous London Town creditors!)



Management at pub group London Town have struck a pre-pack deal with administrators from PricewaterhouseCoopers that will see them jettison 44 properties from the 350-strong business in a move creating uncertainty for many tenant families living above the unwanted pubs.

In a statement PWC said Christie & Co had been appointed to seek buyers for the 44 pubs. "We will seek to negotiate with landlords to keep as many ... trading as possible," said joint administrator David Chubb.

Many leases on the sites remaining in administration are expected to revert to original holders Punch Taverns and Enterprise Inns – adding to their considerable stable of problem sites. Last month it emerged that 12 former Regent Inns leased sites had reverted to Punch after the company behind Walkabout entered into a pre-pack deal. A year earlier the failure of Orchid pub group forced Punch to take back 45 unwanted leases.....(continued)

[careful] 19/2/2010 12:57

just topped up with a few more.
every pub i visit is busy, serving great food.

[hamsterape] 10/2/2010 16:56

FTAlphaville mention a downgrade with a 70p target.

[qs9] 10/2/2010 11:49

nice bounce

[13matt13] 02/2/2010 18:48

We should follow ENT where I also hold from lows, a lot of easy money medium term.

[qs9] 02/2/2010 14:22

Up up and away

[qs9] 30/1/2010 13:23

Interesting that I think another broker had pub sector down as oversold I am sure this week? Also ML was saying that investors are forgetting about the world cup and the amount of booze that is consumed in pubs during it! Reckon any decent news may IMO see PUB back through £1, let's see but last few weeks it has shown great strength when market is off 6%+..

[jazza] 27/1/2010 10:39

GNK would have to believe that, otherwise why pay that amount for 'em?

They are probably right too....but that doesn't matter from the point of view of PUB....they are an indebted asset play with question marks over the value of said assets.

Seems a lot of them are worth more than book - what's to say most/everything they retain isn't in the same boat?

[timbo003] 27/1/2010 08:29

but according to Green King:

The intrinsic quality and location of these pubs, combined with the historic yield they have generated, would support a value in excess of £16m for these assets.

[jazza] 27/1/2010 08:11

£15.9m proceeds vs £12.8m book value...

[qs9] 26/1/2010 08:21

And some more...any thoughts?

[qs9] 25/1/2010 16:49

continuing rise despite market falling

[bolador] 21/1/2010 12:14

Close 80 plus today and the 50 day moving average is broken to the upside.

[jazza] 21/1/2010 07:23

From ETI statement...

"These sales have generated a reasonable profit above book value and confirm our view that our pub estate is conservatively valued and that pub values are beginning to stabilise. In addition, we have taken advantage of a strong market for sale and leaseback properties in London, selling at auction during the first quarter 20 pubs for net proceeds of GBP39 million, based upon 35-year, non-index linked leases back to ETI at an average rental cost of 6%. These pubs realised a significant profit above book value."

[qs9] 15/1/2010 09:52

Looking strong again today, if it breaks 80p IMO this should head towards £1....