Punch Taverns Share Discussion Threads

[tremanon] 01/8/2011 15:28

All be over by Christmas!

[careful] 01/8/2011 09:32

the pub group with 1000's of pubs valued at just 100m.
how much debt did they dump on to pub.?

SPRT is not yet up and running on streaming prices

[typo56] 01/8/2011 09:18

Accumulating what? PUB or SPRT?

[wenlynn] 01/8/2011 09:00

I'm accumulating at these prices.

[randolph and mortimer] 18/7/2011 16:38

Not according to S & P regarding the punch estate.

[jonc] 07/7/2011 07:06

All going to plan.

[crosswire] 08/6/2011 10:34

Punch Taverns jumps 6% on upbeat trading news and demerger plans

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Amid continuing weakness in the markets, Punch Taverns is standing out with a near 6% gain.

In a trading update the company said managed pubs in its Spirit division had seen like for like sales growth of 7.3% in the third quarter, while its Punch tenanted business is down 3.3%.

Its planned demerger into Spirit and Punch is on track to be completed by the end of the summer. Chief executive Ian Dyson said:


Our operational initiatives continue to translate into improved performance for both Spirit and Punch. This has been achieved during a period of substantial change as we prepare for the proposed demerger of Spirit. Despite the challenging UK consumer environment we are on track to meet our full year expectations.



One surprise was the news that Roddy Murray, announced on 10 May as the finance director designate for Spirit, had decided not to take up the post. But this did little to dampen investors' spirits and Punch shares are up 3.9p at 74.1p, the biggest riser in a FTSE 250 which is down nearly 1%.

Analysts have been crunching the numbers on the valuations of the two separate businesses, with some suggesting Spirit as a possible takeover target for the likes of Mitchells & Butlers when the demerger is complete. Nigel Parson at Evolution Securities said:


Trading at the more attractive Spirit business is improving strongly (helped by the fine weather) and trading is also improving at Punch. We think that Spirit could be vulnerable to a bid (from M&B?) once demerged, while there is sufficient asset value within Punch to give it a good chance to restructure and de-lever. Punch will be split into core (2,956 pubs) and turnaround (2,182 pubs) with these likely to be sold over the next five years.

Our new 100p share price target is based on 80p for Spirit and 20p for Punch.



At Panmure Gordon analyst Simon French said:


Both [businesses have done] better than we expected and the group remains on track to meet its full year expectations. The only fly in the ointment is that Roddy Murray has decided not to take up the role of finance director designate at Spirit. Post the demerger we value Punch Taverns Plc at 20p per share and Spirit Plc at 65p per share based on peer group ... multiples. We don't expect the shares to outperform ahead of the demerger and as such we reiterate our hold recommendation and 85p price target.

[careful] 08/6/2011 09:13

a good rise on a weak day.
looks good for the future.

[careful] 08/6/2011 07:55

seems to be going much better.
2012 will be a year of leisure and pubs.
olympics and queens jubilee.
could be a bounce here today.

[jonc] 08/6/2011 07:09

Further encouraging figures from Punch.

Good to see the demerger is on track which will result IMO in a healthy increases in shareholder value.

[jonc] 27/4/2011 21:33

As I said you have no idea what you are talking about.

I predict that within 2 years shareholder value will have increased by 300%.

[jonc] 27/4/2011 16:41

Get yer shorts on then!!!

[sven2006] 27/4/2011 15:44

we'll see.

[jonc] 27/4/2011 15:35

lol.

You clearly have no idea what you are talking about.

[sven2006] 27/4/2011 15:30

This probably needs shorting ! Likely to go bust in my opinion.

[sven2006] 27/4/2011 14:03

EdmondJ - 22 Mar'11 - 07:24 - 1335 of 1343

Talk about the bleedin' obvious!

"The Group's structure and financial position are barriers to realising value."



yep - agreed along with the way the whole outfit is run !

[jeffian] 13/4/2011 10:05

deadly,
Yes, I noticed that the Interims were not posted on the RNS wire services. I emailed uk-wire yesterday, but haven't had a response, and on checking this morning see that they are still not there. Seems an odd omission for a company of this size and status.

[jonc] 13/4/2011 07:46

Yes it was a very muted response. The division to be demerged did ok so ultimately I fully expect PUB to be rerated during the next 12 months.

[thehearse] 24/3/2011 11:55

Tad volatile at the moment.

[isis] 22/3/2011 17:36

What a sad end and all because they supported the smoking ban!

LOL