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When are they due out, I thought it was this week ?
Obviously the Markets do not believe that value, the CEO and Board should resign. Terrible sp performance.
Net asset value (NAV) per share of £0.98 (H1 FY2022: £0.71)
Posted by Fullers I'm afraid.
I'm of the opinion that the remaining 40% in the brewery business alone covers the entire Market Cap here, which begs the question in respect of what the rest of the business is worth!
AIMHO,DYOR,GLA!
Bloomberg report!
Uk growth for April was helped by being driven by a rebound in pubs and bars.
Hopefully with the warmer weather we now have, more can enjoy a cool glass or three! GLA. Enjoy.
Even Marston themselves refer to increased sales when the Sun comes out. Enjoy GLA.
Best comment I've seen on here. It's good to separate out the short and long term and have a strategy for each. I hold MARS and can see many positives for the long term but have made a profit by trading the short term volatility.
If Marstons sold their stake in CMBC how much do you think they'd get for it at present? Thinking of starting to buy back in here.
In the short term the market is always wrong and mispriced otherwise there would be no volatility. In the long term it always corrects itself
This is not a case of "kicking a dog when it is down ", but gentlemen Mars shareholders are in the brown stuff as the share price silently slips below £0.30 !! Reflect on this as you consume your cornflakes this morning and reflect that we could have accepted £1.02 only 12 odd months ago !!! i feel that the directors are now reacting to doing something more positive by attempting to release capital assets, but in a struggling market with predicted higher interest rates, - where are the buyers ?? Why not wait another 6 months and purchase an even more distressed asset? Was the Carlsberg tie up a matter of convenience or desperation and on whose side? All this garbage about younger drinkers prefering Lager may have some truth in it but they aint going to clear a £1.2 B shortfall and the interest that comes with it !!!Gentlemen, hard times are ahead with little succur - i for one are very sad of the situation.
Thunder
Well argue with Mr Market, not me, but Mr M is rarely very wrong.
Thunder agree with you. I hold Whitbread as well and they have been doing very well. If they for instance want to suddenly acquire another 1,000 plus establishments locally to a client base, then what an opportunity. Sad as I say it we will be gone very soon to another opportunist at these silly prices I am sure.
Unless this is a tactical play and then we could go to a Management buy out or venture Cap? We will find out soon I am sure.
Net asset value (NAV) per share of £0.98 (H1 FY2022: £0.71)
· £24.3 million generated from non-core strategic disposals to date at 39% ahead of net book value, with disposals totalling £50-60 million anticipated in FY2023
It is only old fogies like me that like real ale, most young'uns prefer Lager particularly in hotter weather where Marston has seen sales increases. Give them some credit.
Hopefully the weather is turning warmer for a while now, and both pub and off sales at home will do well the partnership mis also showing some ambition and perhaps we can see a higher contribution from the JV to overall group sales.
Read the interim results RNS, the property sold this year was for 39% above book value. They got bid on at 105p not so long ago. I agree it's an option value but downside is limited from here IMO as simply getting too cheap now
Thunder
I think Mr Market looks beyond simple ratios in the accounts, what I suspect that he is asking is, are they really likely to realise book value of assets if put up for sale.
Given the bear market in propco's I also suspect that he knows the answer.
At these levels they have almost become option money.
In fairness Doug, it's CMBC selling here not Marstons, and I'm sure both Marstons and CMBC are doing ok from the premium lager sales which are now popular.
The property alone after debt is more than double market cap...so if you like the beer or not, it's still too cheap on a sum of parts.
Sounds to me like MARS are just selling off everything to keep going. Ringwood beers were always famously awful. As were Jennings. Eagle not much better. Wouldn't mind to see all of them disappear. Agree Wychwood do a decent beer though not seen it about much recently, except trips to Norfolk. MARS are experts at buying up cr@p brands and then later selling them off at a loss. Two local pubs here sell Ringwood - I wouldn't touch it. People these days go for Neck Oil or Gamma Ray if they want ale or Madri for lagers. BTW Madri has nothing to do with Spain but millions of people have fallen for the clever marketing. Just go to a city centre anywhere and open your eyes. No surprise to me that MARS share price has halved over a year and once an SP hits 30p it is usually soon worth 0p.
This is the most undervalued UK share I know of. Trading below 0.3x NAV with FY23 disposals going for 39% above, plus the Carlsberg JV and a profitable trading business. gets taken out soon.
My next fear is wychwood, as that is landlocked with no growth space, they hadn’t dare touch that!
Give Ralph a break, in his defence, he is as thick as pig s@@@.
Shame, nice beer and more old brands going. However, CMBC are only trying to re-structure following "wreck it "Ralph's decision to pay 19.2 Million for it, ..
thanks cb, just found : carlsberg marston’s brewing company (cmbc) has said it intends to sell its ringwood brewery in southern england.
under proposals outlined by cmbc on wednesday (7 june), the ringwood brewery and the ringwood ale brands – including razorback, old thumper, boondoggle and fortyniner – are to be put on the market for sale.
cmbc also plans to close its logistics operations at ringwood, relocating deliveries to nearby depots at tiverton, farnborough and cardiff.
paul davies, ceo of cmbc, said the decision had been made in light of the scale of investment it believes necessary at the site, which is located in hampshire, near the new forest.
“this is not a decision we have taken lightly – we have incredible respect for the effort and dedication of the team at ringwood,” he said. “however, the brewery’s location in a residential area makes expansion complicated, and as such the investment required to bring its capacity and capability up to the level we need for our business is too great to be a viable path for cmbc.
“to ensure our future growth and simplify the business, we are looking for a new owner for ringwood in the brewing industry, including its excellent range of local ales.”
he added: “we have informed colleagues affected by these proposals at the brewery and our priority now is to support them through this process, and to begin the search for the right buyer for ringwood.”
ringwood brewery was founded in 1978, and, after outgrowing its original premises, moved to the current site in 1986. the brewery was bought by marston’s in 2013, for £19.2m.
eight staff work at the brewery, with five others in a shop on the site. a further 20 are employed in logistics. cmbc declined to comment on the potential impact any sale could have on jobs.
the decision to sell the ringwood brewery is the latest piece of consolidation to take place involving cmbc since the joint venture was formed through the merger of carlsberg’s uk operations and marston’s in 2020.
in september, cmbc announced it was to close the jennings brewery in ****ermouth, north-east england, with the production of its beers moving to cmbc’s marston’s brewery in burton.
jennings brewery was established in 1828 and had been situated in ****ermouth since 1874. the brewery was acquired by marston’s in 2005 but had seen “a significant decline in volumes” since the pandemic, according to cmbc.
in november, cmbc struck a deal to sell its eagle brewery to s.a. damm, with 67 production staff moving over to the spanish production group.
that sale included an arrangement for beers produced at the eagle brewery including birrificio, hobgoblin and angelo poretti to remain a part of cmbc’s portfolio.
last month, cmbc sold its london fields microbrewery to uk pub and bar operator grace land group for an undisclosed sum. grace land intends to use the site to launch its own saint monday beer brand.