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Wrong thread, I`ll go and have a lie down.
Better sound out the billionaires behind Odyzean who own 56% of MAB to see if they want a bit of pocket money first. So a hostile bid would be out of the question.
More likely they will offer us a few pennies for our shares.
Interesting, write it on the back of a beer mat (for BODs and CEO to understand) and slip it under the door at St Johns Square. Hope for the best .. GL
Takeover strategy, hostile takeover Marstons at 600m, pay off borrowings of 1.6b = upfront cost of 2.2b. Sell interest in associate at discount for 200m and use to pay off trade and payables 200m. End up with 1.68b of freehold land and buildings asset, 290m lease hold land and building and 135m in fixtures fitting and equipment = 2.1b. The business now makes around 125m profit pa as no finance cost, run business for 4 years, bank 500m profit ,then break up the business, sell off the assets at 25% premium, recover 2.6b plus 500m = 3.1 b on initial investment of 2.2b netting good profit in a 4 year period. We can consider assets sold at current book value or at a premium but this strategy appears viable and profitable. Opinions
After seeing their results today Glad I am in here! Less debt here and instead of profits reducing we have profits increasing. I really do not understand why with our Net Present Value at 98p we are still here, but we will come back soon I am sure. Just need some warmer sustained weather.
However if those on here disagree they are free to sell up and go to M&B (oh I forgot they don't actually own any shares anyway -as they are just looking for a cheaper entry point). ha.ha.
What price would they need to pay for Mab today though compared to this lot.. guess hell of alot more ? The SP of MAB says it all, recovered this morning with not the best results. Yet this lot got hammered yesterday and are down again today.
Who ever is thinking of taking over a brewery/pub co looks spoilt for choice at the moment,flip a coin,mars or mab ? both have ample building land for the new "house building program" being pushed by the goverment,
"You appear to try throwing at me inaccurate or vague info to divert people from the fact you cannot substantiate your claims."
NO sir it is you who are trying to airbrush history.
Your knowledge of Corporate responsiblity is completely incorrect. It is a Company Secretary's role to respond to and provide information to Shareholders. Is that clear enough for you?
Correct the Charge record is 3rd May. Did you see the previous Charge (2nd May), both linked to Barclays the New Funders ( HSBC/BNP Paribas were not prepared to increase their exposure).
Have you read the Charge documents fully? Yes it is usual for a funder to record charges on Companies House. I have seen 100's of Charge Notices over time and rarely seen ones that are so clearly set out regarding Interest Arrears, possible Liquidation etc. These are powerful statements that reflect the previous performance on failed Loan repayments.
Rather than attempting to delete the history others remind new investors about, you would be better to THOROUGHLY examine and research past events, financial and organisational.
There are many who pick up shares that are at an almost all time low and then pump to make a quick profit. Those investors need to ask why is the stock so low? It can be a variety of factors, sector out of favour, economic issues, company miss management, over-borrowed and unable to grow as planned. Marstons have over-borrowed, missed an opportunity to reduce debt 3 years ago, when the likes of MAB and Whitbread raised equity. In the case of MAB their debt was significantly reduced, Whitbread did not need the raise, but did so to create a War-chest.
Lejjb, I could go on but you clearly dispise those with knowledge.
Best of luck with your investments
F15jcm
Precisely so !
But the so called supercharger forgets to mention that, a hidden agenda or what ?
Interestingly, M&B shares are up 35% ytd. Seems to be a lot of optimism already in the price.
Mitchells and Butler need to perform a lot better to match Marston figs so far this yr. I see until the end of Sept2022 Mitchells and Butlers made a mere £13m profit but Marston previously reported before this sales upgrade more than 10 times better at £137m.
M&B should release some more indication tomorrow of their figs to compare and if anyone is unhappy here they can go over there if they want, rather than pulling everything down all the time which is reactive and not proactive (unless they gain from failure) I don't and do not expect to either. GLA and DYOR.
I confess I would love to see 86p. I am now at about 3X what I would consider to be my core holding - I have fluctuated up and down - in the last year as share price has wombled around. Generally managed to be +ve in trading in and out which has helped . I had got back to core holding a few weeks ago and then starting adding a few, but this latest drop frustrated me to the point where I doubled down today bringing my overall carry price to mid 40s.
I see a lot of erudite comment about debt levels etc, but I tend to feel that if the P&L is covering the coupon going forward and the estate value does not collapse from here then the downside risk of "real debt" level is low. Yep, more cost push to come but with growing volumes I hope manageable.
I trust what I see outside, busy pubs, busy restaurants and a real economy where I live that looks flat out. Try and get a roofer ....good luck!!
Was anyone expecting negative underlying EPS for H1? Underlying finance costs up 10% , there was alot of buying from Institutions over the past year and felt it was indicative of a takeover, so entered at 35p, but hoping for a takeover is nothing more than a hope, high debt and costs of that debt are suffocating the business, opinions.
This is what worries me about consumer demand going forward: https://twitter.com/AArmstrong_says/status/1658447500036960257?t=2f5FSaq5sXT47e6npwHo_w&s=19
I am happy with that and as they are building momentum whilst investing for the 2nd half no doubt awaiting for the warmer weather to finally arrive.
Menus look sharp and many pubs are refurbished already too.
We will see in the second half now if the figures can be further extended which is what they appear to be saying. Steady sustained progress is the key here with no worries about the business folding at the current time and more room for growth. Property values higher than book they reported too. GLA
At under 35p
Shaperite
I wouldn't worry about "derampers" as you call them, on this board, they are mainly people who have observed the shenanigans on this board over the years.
It is the perpetual rampers you need to be aware of, quite how relevant is having a Godfather at Dunkirk & then company secretary in the days when typewriters were the hi tech machines in offices, as to whether or not this company survives is laughable. I always thought that after the rejected bid during covid MARS would be taken out by private equity of one form or another, the fact that this has not occurred makes me think that people have assessed this stock in a more logical fashion than boasting of the ex secretary's admirable war record & they don't like what they see.
Hence we are where we are rather than the wishes of stale bulls.
Shares currently 35p down 5.8% on my screen.
Best case a renewed takeover offer accepted by the BoD.
In answer to your question, best case a rights issue, worst case SP = 0
All the positivity here on a very average report , mainly owing to the fact that the debt overall has been reduced by £ 12 million , yet Mars are still behind the black ball to the tune of £1.2 billion !!! Mars has twenty odd pubs still for sale ( in fact every pub is for sale at a price ) and although there are obviously good patches of trading , maybe even excellent patches , the proof will be in the period H2 when the increase in minimum wage raises its ugly head, when the impact of increased rates starts to take impact and finally the pressure on discressional spending take effect. One last observation
is that I really hope that it is a good summer which could negate the above to some degree - but what if it isnot???? I am not a deramper , in fact I am a large shareholder and a resteraunt owner !!!!
"MARS will end this month well above the 35" A lot of lth, me included are waiting for the "well above 86"
I agree consumer demand is still robust, surprisingly so. Question is, is this the last of lockdown savings getting spent?
The market reaction is perverse.
Added today - MARS will end this month well above the 35 I have just bought at.
Results are OK. Economy is nowhere near as bad as the doomsters are predicting. I had to wait to get a table at 6pm on a Tuesday evening last week for goodness sake.
For the brick chuckers - if you want to say Sales increase is only due to inflation and therefore discount it, then do the same and acknowledge that the reduction in debt in real terms is way more than the nominal £12M.
DYOR as always but I am buying again.
Hardly surprising given the country is getting poorer and discretionary spending is under pressure
Everytime we get some mediocre or good results the sp falls,has no one got any faith in this company anymore,