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I am with you .... had a bit of a windfall so decided to dig deeper..... ha ha. Now holding more than 3 times what I used to think of as my core holding.
At least my average holding price is lower....
I may be becoming an expert straw clutcher.
At about 30p
I'd wait, 10p at the end of the month at this rate, shocking !
Low share price will make this share volatile and they are only a 1/3rd of the NPV on sentiment. Last Results were "only" up to 1/4/23 (quietest time with no benefit of summer sales). We should expect growth throughout the summer and we see they have reported positive cash "inflows" now to change help the results be positive. I regret they said sales are back to normality (they should as defined this as pre-pandemic) as they have recovered -but they didn't - so I see a set of results being played down. I may be wrong but dyor. this is what I see up until April. They will have tax benefits with plant purchases this tax yr where they are fully tax deductible, they want sales growth to be double any debt :-
Underlying figs Totals
2023 2022 2023 2022
Total revenue £407.0m £369.7m £407.0m £369.7m
Pub operating profit £43.1m £39.9m £43.1m £45.9m
Assocts Inc/(loss) £2.2m £(2.0)m £2.2m £(2.0)m
Profit/(loss) before Tax £(3.6)m £(7.5)m £(38.1)m** £25.6m
Net profit/(loss) £(2.9)m £(6.1)m £(28.8)m £19.4m
Earnings/(loss) per share 0.5)p (1.0)p ( 4.5)p 3.1p
Net cash inflow/(outflow)£11.5m £(8.9)m
NAV per share £0.98 £0.71
A new all time low, must be worth buying more !!!!
They issued a statement to say they felt EU rates would still rise based on their inflation, I see this as a way to try and raise their currency. However we are talking small amounts now anyway. Uk Rates are in the same position although Food inflation is slightly down. I am just being patient whilst the sun is out we will be making good sales. Also I read an article to say less people will go abroad this year (up to a 1/3 less) and this will help summer sales too. I may even buy some more soon looking at this as an opportunity!
Hope you are wrong about the fall, but this daily hammering is depressing .. can't blame the yanks today.
The largest have over 30m shares - Major shareholders now :- Capital Group Companies Inc, Brewin Dolphin Ltd, Dimensional Fund Advisors Ltd, BlackRock Inc, Royal London Asset Management Ltd, Standard Life Aberdeen PLC, Vanguard Group Inc, The Wellcome Trust Limited, Aberforth Partners LLP, HSBC Holdings PLC, Morgan Stanley & Co International PLC, Momentum Global Investment Mgmt Ltd, ClearBridge Investments, LLC, The Goldman Sachs Group Inc. DYOR
This company exists for one purpose only - not to grow, or reward shareholders but to pay down (very slowly) its debt. There is absolutely no investment case for it. The long term chart is suggesting a breakdown and fall of 20-25% very soon.
The weather we’ve had of late can only be a good thing and hopefully the investment made into various beers gardens will be reaping the rewards
Sorry max cashback allowed £30.
A fat finger on previous post !
I just noticed that Halifax bank has added Marstons to its reward programme.
Current offer is a once only 10% off drinks & food with the maximum cashback allowed of £300.
Offer expires 14 June.
Any posters with a Halifax a/c just needs to register for Halifax rewards and then pay on either a debit or credit card.
Agree warmer weather is what we wish for. Looks good for the w/end where I'm standing!
This years winter has dragged on to be honest! -last years was early -so lets hope we are finally here!
Fund managers and traders are waiting to see if the debt ceiling issue is sorted in the USA - & looks like they the US Govt are going to borrow more money and this will keep the Feds rates in check. We just need to be patient.
Hope it happens.. but atm 32p all pubs open and summer is here.. vs 26p all pubs closed, country in lock down. Why are we bothering.. ?
Markets nervous over US debt ceiling but it is just a pantomime, analyst's say we will see a green run across the markets once they lift the ceiling, analyst's predict 45p short term, they've highlighted hostile takeover rumours at an opportunistic 75p, they also claim of an unnamed fund seeking to take or increase by 5%.
Bought around 10k each , Markets don't seem impressed at 32p at the start of summer..
So that's 2 sofar, do they know good news is coming down the line soon.?
One think for sure this is good drinking weather, beer gardens and bars should be well in demand.
UK government has made a fatal error with the importing of certain populations that are economic burdens with their higher than average benefit claims and social service usage.
And to boot these migrants dont drink alcohol or spend money on tax goods, as they spend using cash in their mates cafes that dont declare tax and are mostly money laundering outfits (alongside all these barbers, vape stores, and mini marts).
So overall damaging to the UK Economy and with an increased level of crime, well done landlord class!
When some more positive business news gets released, we will be there for sure
Next stop mid to low 20s
NAV per share according to HL is as follows
Wetherspoons 249p
Mitchells 358p
Marstons 98p
Fullers 737p
As the old saying goes - its not what assets you've got , its what you do with them! Marstons haven't been run particularly well over the last 10-15 years but if they can survive without a further rights issue ( last one was 11 for 10 at 59p in June 2009). Since the Rights issue of 2009 was announced dividends of 71.3p have been paid
Just looked at the prices of 4 pub companies share prices over the past year
A year ago Marstons price was 60p, Mitchells & Butlers 201, JD Wetherspoons 714 and Fullers 562 - a year later Marstons are down 44%, Mitchells up 4%, JDW up 4% and Fullers down 19%
Interestingly from their lows of mid October 2022 - Mitchells are up 99% , JDW up 73%, Fullers up 18% and Marstons down 1%.
Because we are on here we should all have a vested interest in Marston's shares - We know the economic environment may not be great for a year or so but were the recent results that bad that a mild rerating on the shares wasnt warranted . Ive topped up today at 34p, especially in view of the rises over the past 7 months from the others mentioned.
Comments?
Marston I feel have improved -with World Class Beers and extra Lager sales from the JV where Carlsberg and extended range. I feel quite relaxed. Sales are improving year on year, debt is reducing and free cash is being created. Summer sales will help further too, even Bloomberg tonight are saying stocks on the FTSE looks cheap! GLA.
Superdischarger
Yawn Yawn & Yawn again...
You forever puff when we all know you have a different agenda, are you paid by the word or the column inches ?
Not being nosey but intrigued to know...