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However, the price of Food and drink has risen after the lockdown. But, £32.88 for 2 10oz steaks, 3 San Miguel, 3 Hobgoblin, 1 chocolate indulgence is very good for me, thankyou.
Used both on Monday, £8.58 Eat to Help and £4.29 Privilege card
Lighten up a bit.....
News of a lockdown in Aberdeen temp halted rise
Redbox
Perhaps because most shareholders would like them to make a profit ?
I said a week ago this share price will double and what with Capita this is one of my best buys. I am sure this will still happen. Hold on to those Marstons shares and enjoy the ride!
Due a retrace?
With the carlsberg JV, no way was this worth 36p. Just gutted I didnt plough more in. Got some MAB at 140p too, but is relatively tame compared to this rocket ship.
Redbox
As a holder I sincerely hope that it would NOT be accepted, MARS needs the cash !
How double dare you to take full advantage of the tax payer.!!!!!!
I doubt it, a lot of people are working during the week so can't really get out to pubs, restaurants, I think its families and couples still on furlough making the most of the discounts which is ridiculously cheap.
I was in Morrisons cafe last night and ordered a beef burger with chips, chicken burger with salad, chicken nuggets chips and beans, 3 soft drinks and you got a drink free and the bill came to £6.50 or something.
Because it was undervalued, still is
the government eat out to help out scheme might be giving them a bit of a boost.. only worry is that people will move from going out on weekends to going out on mon/tues/wed for the food offer
Anyone know why this has suddenly started to shoot up?
Uplift across the hospitality sector.
Maybe that bustle that I noted yesterday is being reflected across all of Marstons properties, hence the sudden uplift in share price...
How do you see it back to 60p?
Barchid...unpaid rent is less of an issue as the pub can be converted to a foundation agreement where Marston’s take control and 80% of the pub income is taken rather than rent...like for like they typically are more profitable. On the whole this balances out and is a bit better.
You are quite correct about the estate valuation, particularly the big new builds...
Trent
Good luck for you & yours, another (local) lockdown will be as about as helpful as breaking wind in a lift to Marstons !
Hoolicat
Great input again, many thanks.
As you say a chunk of change but rather less than I was fearing, thankfully.
The real issue is, of course, if the tenants can pay the rent. That is a liability we have no solid numbers to evaluate but my suspicion has been, ever since the sale of a bunch of pubs late 2019 at a nasty loss to book value, that the estate is somewhat aggressively valued, especially as that followed the abortive sale of "pitcher & piano" bars due to no interest at the offered price.
could be on the way back there..
Hi Barchid, I think you are asking for my input on tenancy debt and beer wasted? I wouldn’t give info that is not in the public domain, but debt has been relatively low and not a big impact. This is mainly due to the ability to switch a tenancy into a retail or foundation (types of franchise) agreement which tends to mitigate business failure cost as these retail agreements are more profitable like for like for the low turnover, wet led tenancies. So debt right off has been fairly small. It that was in a stable, well controlled environment where agreement conversion could be proactive. The current situation will be more reactive and need to be faster paced if tenancies start faIling...debt will rise from unpaid rent and the vacancies hard to fill with competent operators. I would estimate that the tenancy and leased division would be £1million behind budget for the whole year, conservatively...i.e. this is the profit loss compared with if all was normal.
The beer loss due to wastage...if you assume 10 days stock holding, with draught beer being 75% of the wet turnover, then you are looking at £2k per pub at cost as a general average for T&L pubs and also the franchises...For 900 pubs or so. The Managed pubs have a lower % of draught beer but higher stock holdings, a guesstimate would be £4K per pub for 600 pubs...a chunk of change. I would stay clear of any specials involving steak and ale pie...
Fairdealer
First the motel piece, certainly variable in quality, which one can understand up to a point in this climate but could mean a general staff/skills upgrade is needed to maximise occupation of rooms.
My only experience in one was in Devon, pretty dire, even on the loyalty card it still rankles....
WRT the trade receivables, you have confirmed, but in greater detail than I had knowledge of, the possible iceberg we might meet in some months time.
Hopefully not but it is best to have eyes wide open.
Thanks for your response, appreciated.
Got in yesterday at the bottom, 36.3p unfortunately for a relatively small amount but nice to see a big engulfing candle after filling the JV announcement gap. Bodes well looking ahead. I would be happy to buy more if the new trend is days like today.
Trent. Hope you don't but if regional lockdown occurs you come out of it quickly.