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Shocking that a SP goes down and not only up?!!
Very true i u are not able to wait and be patient.
If no patience then I would get out ASAP..
Slowly heading back down to 50s.... Shocking!
Not a whole not happening with this stock lately, unless you can catch the brief spikes, hopefully we can get some news to make this boat more steady.
Very flat today. If they spring the interim results on us tomorrow morning this could fly.. or drop depending on how good the results are :-)
Another little uptick to start proceedings today?
@ fairdealer, perhaps so Marston's should be giving guidance for those landlords that are directly employed the company. That's a reasonable enough assesment, as Marston's are paying them directly out of their own finances, so what they say goes in that respect.
On the other hand, those self employed franchisees will not be getting paid by the company. Maybe they are getting something from the furlough scheme, I don't know. That said If there is a way for those self employed landlords to earn a bit of extra cash for themselves by doing this would surely be a good idea.
I was trying to do a a few sums... basically i think Revenue will be down less than about 100k to May compared with 2019 which isnt bad. but yep agree with all the update points.
as for update effect... SP movements have seemed odd to me- hard to say what would happend.. one big day on the JV news.. spike early in the morning on tuesday but clsoe down. up day thursday due to boris.. down on friday.. slighly up today.
The positive is that I dont imagine there are lots of traders left waiting to sell, but who knows..
OK, although a potentially bad period in revenues ie including lockdown period in there, there's hopefully a good trading update in there to include retail sales, cash from any disposals, maybe something of carlsberg?
The SP will no doubt rise or fall on the day of the update according to how the update is and how the market perceive their position going forward
they said june not specifying a date... i was set for May- they seems to cover odd periods, there was a 16 week updated in jan...
so i think the update will give a view of trading to date.. ie october to may
Are interim results announced this month? What date? Was it delayed from March
trent that is a fair point, however and depending on a Franchisees agreement, it would be unusual to allow more than a certain% of beer to come from other sources, i.e Guest beers.
That said isn't it reasonable to expect Marstons to give some guidance to it'e outlets in order to maximize sales?
adg
Well it wasn't wrong to cut my holding back at the time, so if you think it is an odd thing to do, ie visiting companies you invest in, afraid to say I view it as part of DYOR
@fairdealer that was for. D'oh
@tiebreaker I'm guessing of course, but if there are self employed franchisee landlords that are simply tied to Marston's for stock, would that not entitle them to use their discretion and possibly conducting take away or "dial out" for delivery of beers, possibly food?
If that is the case I wonder why there are those that have not done so?
In July paying towards furlough will be optional. Employers though can take the opportunity to bring people back part time as long as they pay for those part time hours. The rest of the salary can still be furloughed. This is great as originally this was meant to be from August. This hints at beer gardens being able to trade in July and pubs being able to be shrewd with staff costs. I think there are much worse industry’s to be in post Covid. With air travel limited this could be a strong bounce in mid summer. Up until October staff costs will still be very low as the equivalent of only 5% of staff costs would have been expected to be paid out on average over the term of furlough. Dyor imho
London tends to be a different market too the rest of the Country. Marstons have a smaller exposure in the South East than some Brewing groups.
The quality and consistency of food and service does vary from location to location. I have on occasions made comments to HQ ( Wolverhampton) where standards have fallen below what customers are entitled to expect.
It should be of concern to read Leppington's experience that the company have not issued guidance to Landlords of how they can operate given the restrictions.
It would be good to hear from other Landlords to know their experience?
Barchid, a trial of food in pubs is the reason you cut your holding? ever been to a JDW and eaten? Not sure where you live but in London, erm its not gourmet, but in summer the pubs are packed, both in the city and suburbs.. a whiff of heat and the booze flys.
Hold and buy if you ask me. Some good upside here to come. Any whiff of a confimed outside area re opening or indeed the gvt mentioning we are at level 3 not 4 will
Send this north imho, silly to sell now dyor
I think as the summer months keep coming with the good weather we will see a nice decline in COVID. Hopefully pubs and other hospitality establishments should start to reopen. I am hoping for a good amount of relaxation for the August BH. I'd be very cautious towards the back of Sep. If we see a cooler September and then as October comes around we may find a rise in COVID again which will trash the SP.
Overall: Weak buy or hold for now - anticipate a good rise on the already nice SP as the virus diminishes and pubs start to reopen. Then sell or hold at your own risk into the winter and hope we don't get a resurgence of the virus. If it does come back and we go back into lockdown - we can always buy back in at a sweet low SP (not that I'd wish that on humanity of course - I hope its over soon and our lives return to normality with healthier portfolios!)
Sorry, *Barchid*!
Bar hold, Admiral or New River will be very interested in their tenanted and leased estate, which if Marston’s want to focus on Retail (I.e Their managed and franchise style pubs), would be a good option.
fairdealer
A very reasonable summation of the position
I would go a little further in that the jewel (brewing) has been sold off to support the pub estate. Personally I would have preferred it the other way round but then who wants a string of often scruffy and run down boozers ? I think a lot of new shareholders posting on this board should apply for the "privileged" card available (or was until recently) to shareholders, it does not lower the price of drinks but it does of food. Then they do a bit of cut price dyor to see what they think of the food.
I did and after a few visits I cut my holding sharply, there is really little consistency in the various offers other than for various reasons they go into the "don't return" column !
In short they are/were a great brewer but not a great publican, imho.
I agree.
The furlough scheme changes in July & August companies will then be expected to contribute if the hospitality industry isn't open by then how will this work? I can't see how the industry will survive!
Plenty of news coming over the next few weeks.....DYOR
shazabo i decided to hold onto my shares as i did some more research to make me satisfied that marstons will do well in the near future and long term should be good:)
Id be happy if we lost a bit of the volatility and maintained around 65 pence..
Any price predictions for this week/ end of week?