Spirit Pub Share Discussion Threads

[battlebus2] 14/3/2012 20:28

Spirit Pub Company, the managed pub company which demerged from Punch Taverns in August of last year, is set to release an interim management statement which will give like-for-like (LFL) revenue figures for the group's second quarter (December to February, inclusive).

"Although the quarter since 16th December will have some weather-related advantage, last week's result from Wetherspoon indicates that 2012 has indeed started quieter (by around 2% to the previous trend, in the case of Wetherspoon)," notes Peel Hunt.

"We would therefore expect LFL sales for the quarter to be up by only 3%, still reflecting the advantage of Spirit's progressive investment in the estate," the broker forecast.

At the end of the group's first quarter (Q1), Spirit had refurbished 108 of the 200 or so pubs it intends to spruce up in the current financial year. Peel Hunt thinks that number should now be approaching the 130 mark.

"In leased pubs, the quieter January and February may well have sent LFL net income below the -3.3% recorded in Q1. However, the shared services agreement with Punch expired at the beginning of March, giving the company more control over pricing and promotions in the period ahead. There should be around 10 conversions to managed (five at Q1), and perhaps 20 disposals completed or with solicitors, out of the 50 we forecast for this year to August," Peel Hunt added.

[shammytime] 14/3/2012 11:23

70p tomorrow

[nurdin] 14/3/2012 09:29

Looks like we are breaking out...:o)

[mulebraker] 11/3/2012 21:30

JonC - 4 May'02 - 19:20 - 6 of 117

cats are horrible there not very clever like you.

bionicdog - 4 May'02 - 19:30 - 7 of 117

i'm not a very clever dog , but i did finish top in my class at chasing these.


^ ^
0 0
.-.

JonC - 4 May'02 - 19:34 - 8 of 117

You norty dog i like Rabbits.

bionicdog - 4 May'02 - 19:36 - 9 of 117

don't worry i never catch them , as my bionic legs have been playing up a bit recently.

JonC - 4 May'02 - 19:44 - 10 of 117

Dear Bionic Dog,
This is my first time on the internet thankyou for talking to me.
See you again.
Bye for now Jade.

[nurdin] 11/3/2012 17:36

cheers JonC...very few PIs in this stock it seems.

[jonc] 11/3/2012 16:03

Trading update on Thursday.

[jonc] 02/3/2012 12:20

Dunno if that link will work.

It says:

Spirit "could grow to 1,200 pubs"

View postBy Phil Mellows , 02-Mar-2012

Related topics: City News

Spirit Pub Company, the demerged managed house arm of Punch Taverns, has the potential to grow to an estate of at least 1,200 pubs, according to chief executive Mike Tye.

While declining to set a timescale, Tye said: "Internally we have very clear targets and there is a five-year business plan in place. All six of our brands are established, though some are still pretty young, and the brands we've got will support 1,200 pubs. There's lots to go for."

Speaking to Publican's Morning Advertiser, Tye admitted that when he joined the business in 2007, he "thought it was in pretty poor shape" but "also saw a huge potential".

"No one had spent money making sure the basics were right. You can't have a pub with wallpaper hanging off the wall, the toilets not fixed. Why would anyone want to go back into that environment?

"I had to change mindsets – or I had to change people. You can't push water uphill with a rake. That's not being harsh, it's a fact of life. Now, today, we've got a fantastic team."
Spirit posted a 6.2% increase in like-for-likes in the first 16 weeks since last August's demerger, and Tye believes it's most of the way through the 'optimisation' phase of the company's turnaround.

"Debt has come down really well, from seven or eight times EBITDA to five times. We've done a really good job there – and the best way to get debt down is to get your profits up.

"It took a year to stabilise the business, now we're putting in place operational excellence, the right calibre of people, the compelling brands, the infrastructure to do business. I would say that's 70% complete.

"When that's done we can grow and buy more pubs."

Spirit currently operates 800 managed houses and will transfer, or sell, the remainder of its leased pubs. A 1,200-strong estate will make it the second largest managed pubco behind Mitchells & Butlers.

Meanwhile, Spirit is believed to have completed the refurbishment programme of its 135-strong Chef & Brewer concept, with plans to expand it to as many as 200 sites.

[nurdin] 28/2/2012 09:27

yup...chart looking very horny now ;o)

[jonc] 27/2/2012 15:15

Close to breaking out.

[nurdin] 17/2/2012 09:14

Grabbed a few yesterday.Should be good what with the Olympics not too far away..

[jonc] 14/2/2012 09:20

Pub visits increase for first time in over 18 months


Visits to the pub have increased for the first time in almost two years as Britons look to escape the doom and gloom of the economic downturn, new figures show.

[jonc] 10/2/2012 15:49

Clear air above.

[jonc] 20/1/2012 12:58

On the move with good volumes.

[jonc] 16/12/2011 07:44

The recovery continues.

Very undervalued.

[jonc] 25/11/2011 19:10

50% undervalued. Should at least double if not treble from here.

[blueball] 24/11/2011 18:44

Overvalued by 50% still further to fall.

[jonc] 24/10/2011 14:13

Hopefully the rerating will take place over the next six months.

[cammy3] 20/10/2011 07:45

Excellent cashflow - should see this being re-rated now - 105m of cash inflow mkt cap only 240m - yes it has debt but that will clear as earnings ramp up further. Happy with these results

[jonc] 20/10/2011 07:38

Seems to be moving in thr right direction.

Dividends in the current year.

[jbm] 04/10/2011 13:09

Hi,

There is a new ADVFN Wiki page for this company. It is pretty basic and needs expanding on. Anyone can edit it.



Apologies if this has been posted before.

Cheers,

Jon

[careful] 02/8/2011 09:42

one analyst says sprt could be well overvalued on a worst case scenario, another that they are well undervalued.

what a racket.