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Wolfwatch your post (11.11) is spot on. Some pubs are,nt earning their way . The Crooked House is a Graded Property and will be difficult to re-develop. It is odd that less than 6 months ago more than £100K was spent on the Crooked House.
Talk by some here is quite ludicrous. The current CEO has been with Marstons for several years unless SC knows he is about to be replaced, much as he (SC) knows how well sales are going.
SC. do you have inside knowledge?
The frivilous attitude towards debt is barmy. Lenders have 1st pull on assets. Being told debt is secure until 2025 may give comfort to some, but those who know about debt management are aware reneging on repayments not just once but twice raises Red flags.
The suggestion Institutions will come on board, think again, many Funds are only allowed to invest in companys outside the FTSE 250. Marstons dropped out of that market almost 3 years ago.
Rampers will try to convince gullible investors that everything is rosy, but they are hedging their bets being in WHB.
There are many of us who have seen the slow decline of Marstons, commenced under RF, and hope the future is better.
Thanks for the input SC.
The CEO is not new to the team, he was the former the Finance Director, so has been part of this Management team which has seen this share price go from at least £1.50 to today's junk value.
Wish he was new blood, but MARS decided to try and play safe and not bother to get in any new talent (which was clearly needed after "Wreck it" Ralph left us in this mess)
Most moaners on here complain about debt and yet they also complain when the Company is selling some to reduce it!
The CEO is an accountant and new to the team and appears to be presenting well for shareholders. Regret many on here are not that is obvious. The Board announced increased sales for the group and we know home sales have been increasing too. We now await the 1st qtr update which will be a further improvement in the numbers. However the regular moaners on here will never be happy what ever is said but Pension funds might be, as well as any stalking horse who would prefer no doubt to buy a smaller entity than over 1400 pubs. Which is a lot lets be honest. DYOR and read the last release! IMHO.
There's some big money buying positions here.
Debt is now covered until 2025, no need to sell assets.
Long summer and Xmas trading ahead, and don't forget the extra bank holidays...
PB, KT, hope you're right, but..
This "shower" of Management have an habit of selling the assets (pubs, breweries) too cheap or in fire sales. as past experience has shown.
Appreciate some of those pubs on the 61 list may not be "cash cows", (the crooked house despite being good to see, has its issues..), but some will e decent earners and these clowns will no doubt sell-out for peanuts again.
Many stocks below fair value, I'm buying small positions in 100s.
Hedging my bets and looking to cash in in 3 years.
I will have a wager with you now that this will have been bought out, or 80p by then as investors come running back to the markets with cash... Gla
surely a strong take over target again, if the BoD get a 3x offer (600m), surly they will have to accept.
Shareholders now could force a takeover with the failings of the BoD apparent.
PB, not sure Carlsberg see Marstons as having a share in them. It is the other way around. Carlsberg have form when taking control of competitors. The only way their agreement got over the line with Monopolies and Mergers, was keeping Marstons as part of a separate company. Tetleys were taken over by Carlsberg in a similar fashion.
The value of Marstons assets is a questionable matter as commercial properties have, depending on location, limited investment interest. The result of Christie's marketing of 61 pubs will give everyone an indication of the total Property Portfolio value.
good luck PB,
I feel its relatively safe due to value of property owned plus share in carlsberg..
It's a good council estate brand, and they will always pay for a pint and ***s over food for their kids....
PB, it may be a good move for you, only time will tell. There are many investors here at a much higher SP than your entry price.
As Wolf states the management have a lot to answer, remembering they are not in full control.
"He who pays the Piper calls the Tune" Banks agree most things the Board wish to do.
It is still a gamble, which may pay off.
GLA
At least I'm happy, I'm in at 32.75p.
May be a while, but good hold... Gla
Covid period, all pubs closed - 26p approx ?
Drifting to below 32p with 1400 pubs open.... What a disgrace Marstons board and CEO !!
My buy order at 33p seems to be getting close... Just didn't want to miss any potential buy out.
Must admit have seen some large competitive buys going on today 50,000, 20,000, 13,000 etc.etc. Morning star is a good source if not your own broker!
Why would anyone want to sell a Company at this price when the most recent releases have shown such increased sales figs is beyond me!
If someone does come in for Marston most people will be too late to gain a late entry at these silly low prices! Seen it all before and then all they do is to moan that they should have bought earlier after missing the boat.
which usually indicates that people in the know can see good things coming in the 16th May, and get all the shares cheap now to maximise their profits.
Remind me what price is Whitbread for a GBP375M profit vs Marston's share price for an updated prelims due out very soon.
To compare we are only expected to make a GBP3.75m profit for a 1% of comparison value on current share price? Pretty sure we will exceed that by some margin.
Very good value here -although to be fair I am a Whitbread shareholder as well and did rather well today.
I am not M&B however who appear to me to be far less productive in profit per share. DYOR and IMHO.
i'll take a takeover bid of 55 at this point.
2nded KT, but I'll take alot less than £1 now..
I vote for:
takeover of marstons for 100p a share, so that they can =
the property estate to be sold off to a property development company for housing
then sell of the holding in Carlsberg Marstons back to Carlsberg.
the UK is a dump, and once we go back to the stone age the recent arrivals can feel more at home.
Which might well be why Whitbread and or any other Company can come in here to takeover one that has turned around and is now making profits!
The misjudged statements are from those without a broader vision - still everyone to their own! Just that some on here do not see that negative comments can bring around positive change!
A very misplaced statement. Whitbread is a very much better managed company. It's shareholders are soundly regarded.
Whitbread results are better than pre-pandemic, they are undertaking a share buy-back which will return excess capital to shareholders. They increasing Dividend, oh for Mars to follow suite...no hope as any return to the dividend list has to be approved by the Banks.
Whitbread and M&B made a good decision 2+ years ago when they both raised funds. Marstons did not, RF was too pre-occupied with the Sale of the Brewery. A cash raise at that time would have relieved MARS of the debt anchor which will continue the financial inertia so evident.
Insofar as another bid from Platinium, if last time is anything to go by, the BOD will not inform SHs until it suits them. Do'nt forget as I continue inform, Carlsberg will have a big say in any disposal of Marston's assets.
It could be,as WTB have made clear their intensions to expand the Motel chain in UK, they ( Whitbread) may "cherry-pick" Marstons better sites.
It is all if's and but's,
Whitbread's style of management is superior
AIMO DYOR.
33p - AA and BODs should resign...
KT-I would feel the Directors might start buying in here first, as well as some market pension growth schemes driven by sector growth. If Whitbread are used as a barometer we should follow the market consensus. The fact in a similar way Marston have already declared they are profit making again is true to what Whitbread have said previously and today.
If a takeover is to happen we should expect hearing something soon as no doubt if any stalking horse waits the price here will rise after the next sales results are released, which should be a lot better on a sector returning post pandemic. We will start to become a very interesting share here soon I am sure.
I wonder if Platinum Equity Advisors will launch another takeover bid while the price is so low?
You never know, they could have commissioned a fund to build a large position in the background to sell to them to have a big share holding ready for the bid launch to force it through now.