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For me the only real niggle here are securitisation Bondholders who’ve only given waivers through to April 2021. Let’s hope MARS can get their ongoing support without pain ! Until I see clarity on that I’ll wait on the sideline.
I also think that too Fairdealer.
Snippet: "As a consequence of our having significant liquidity in our financing arrangements, the absence of any near-term refinancing requirements, and in the expectation that the outlook for the second half-year is much more positive, we remain confident in our ability to navigate the current difficult environment."
That to me screams out that they're distancing themselves away from any RI which may bring much relief. However they still have a 12-16m monthly burn albiet 50% less than M&B that is still some considerable ongoing burn. This week the SP has held strong. Having totally lost my way in knowing what the actually day is I bid everyone a good 8th day of the New Year.
Predictions on the impact on SP?
Is the RNS a quick response to MAB's proposed fund raise, and too pacify the market??
The Q1 results outline how well this company is positioned for a (hopeful) 2nd hslf of the year recovery.
We have to take our hats off to RF for the joint venture with Carlsberg, what a masterstroke that was!
Happy indeed with the business, despite the current circumstances beyond its control.
Sorry was referring to the brains acquisition
what takeover as i havent heard anything of such news so please enlighten us all. also anyone still think there could be a RI
What takeover?
Joe do you know something?
What takeover?
Joe do you know something?
i do agree joek but the gravy boat has a hole in the bottom short term , give this a year after restrictions are lifted and peeps get over fear factor of going to crowded places this will come good
You have to remember that once the vulnerable are vaccinated, restrictions are going to start lifting for pubs big time, which will most likely be by Easter. MARS will emerge from very strongly this pandemic, particularly given the takeover.
as i said a few days ago ,it wouldnt surprize me to see this dip to 50p ,with the refurb /rebrand of brains ,how much ? cost ? cash in hand ? i sit on fence till after 27 agm , if share issue to raise cash could see 50p or lower , i hope for all i am wrong but ive seen this too many times before elswhere ,takeovers look great , ego boost etc but they cost so only my opinion ,keep safe and gla
barchid,
Dead right ( sorry for the pun). The way UK have handled this pandemic is appalling. Have friends on the South Island (NZ) and their lives are back to normal, except travelling abroad, which OK given the space and natural environment, do 'nt believe it will bother many Kiwi's.
fairdealer
Very interesting, thanks.
If we do need to "be prepared" I fancy you would much rather be in NZ.
As a matter of interest M&B have released a quarterly update this morning. The figures and comments make interesting reading. The company has cash of £125m has all sites closed, is burning cash at the rate of £35-40m per month. The Board, which includes 2 major Institutional shareholders consider it prudent to make an Equity raise.
Marstons should release an update ahead of the AGM on 27th January, we will then see how figures and possible capital requirements compare with MAB, who have a much stronger asset base.
As all Boy Scouts know...." Be Prepared"
https://www.kantar.com/uki/inspiration/fmcg/2021-record-demand-for-groceries-as-uk-families-mark-extraordinary-christmas
“Meanwhile, alcohol sales rose by £310 million, with options to drink in pubs, bars and restaurants limited.”
Let’s hope that we got a good slice of it
Like Syphilis it never truly goes away (I'm informed by a Navy vet)..........I did actually think over Christmas he'll be back with his strong words of unwisdom and "Strong Sell" options. I guess selling off when he did at 50p shows how doing your own research can often fail.
barchid,
There may be a few alias's at work!!
I commiserate with the delay/postponement of you trip to the Veldt. My trip to NZ has likewise been disrupted.
Lets hope we live another year!
I see that "the man(?) who never gets it wrong" has given us his usual nocturnal message, although a tad earlier than his usual Jagger inspired Midnight Rambler, so now the latest wheeze is gold/precious metals which have been hot for a while, but oddly enough not a word about some of his other apparently less successful forays such as Crapita, down over 20% since he tipped them, plenty of others but we all know. them. Instead he is now the gold guru and will probably advise us that a sovereign is worth a "lunch for two" in the Savoy (as the real gold guru did), but sadly there was no EV charging points in their garage & I suspect lunches there are difficult to price in lockdown ?
I am seriously wondering if he was badly bullied at school, because his digs to us always seem to come after lights out in the dorms ?
A while ago he remarked he was soooo busy in January as he and his wife were in conference deciding which stocks to take a profit on to use the £12,300 annual cgt allowances , the fact that he thought of his old fans at Mars during conference season leads me to believe he might have a few losses to c/f ?
Sorry about straying off subject but with my trip to S Africa now on ice due to lockdowns I just needed that !
I was alittle suprised by that myself abit of a risky move.
taking on dodgy welsh pubs may not be the best move at present when large borrowings need to be paid down.
The Debt pile has been a concern to some for quite sometime. OK funds from the JV have made an impact, however something which appears to gone under the carpet are the Loan Notes which were granted waivers ( for the 2nd time) by HSBC. THese waivers expire in April, the understanding being no further waivers will be considered. That being the case HSBC have arranged, with Marstons agreement( they had little choice), to transfer these loan notes to BNP in Q3/4 . BNP's conditions are rigid with little opportunity to vary conditions.
Debt/Income ratio is going to be sort some company's out. Fuller's. Whtbread and M&B have stronger Balance sheets and will survive/prosper whilst others are struggling.
Dividends are a dead duck in need of resusitation
I'd more worried for the nightclub owners who havent been able to open for almost a year. The pubs are in for a hard time but they have managed to open at points and if they can control this virus the pubs will boom with everyone being stuck in for so long.
I totally agree with you Thriller.
I can see this company asking for more help before things get better though!
I dont mind not getting a divident in the short term if it means a company can survive.