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considering the Restaurant group has also just announced they are reducing sites shows that this is a sector situation.
facts are these are tough times, however as has been seen from sales data, its the very top end and cheap product and services being cut back by consumers, marstons are safe that they sit in the middle of the consumer spending axis.
Marstons are premium enough that people will buy them to show off, and cheap enough that every person can afford them.
Bullish for Marstons, now the fight back to fair value starts!
Dear dear, Marstons selling 61 pubs, details of which are yet to be published. Now either those pubs are not profitable or some other reason. Wait a minute, Christies are saying they are successful and have shown resilience through the economic problems of recent years. Best tell that to the 100's of Landlords who have given up.
Now if the 61 pubs are as good as Mr Moffit states, this will make a dent in Marstons profits and make the £1billion sales harder to achieve.
The consideration received from the sale will be very useful to reduce debt which is stubbornly stuck even after the cash recd from Carlsberg. That £273m seemed to disappear, debt was not reduced.
The likely scenario behind the sale is as predicted some weeks ago, Bond holders have given short term waiver extensions. Loan agreements have been breached. Those waiver extensions are until 31st March 2023. It is logical to conclude, being between a rock and a hard place, Marstons have decided to liquidate properties to satisfy Bond Holders.
The barley issue is old news, I know Growers/Farmers who have been growing specific Varieties for Carlsberg for at least 10 years.
Karl a few days ago you mentioned C&C and then later, after I had provided info on Magners, Bulmers etc, you stated it was a different company. I did ask for qualification and am still waiting. Your admirer seems to think there is confusion, clearly not from me as you subsequently stated to holding CGR ( the Lse code for C&C Group). It would be good if you can put your friend right.
I was aware some weeks ago Marstons had sold their prestigious Head Office in Wolverhampton and moved to a less salubrious block nearby. Have today learnt that block is rented, which would have released significant equity.
Here is the report from a Local Correspondent in Wolverhampton who knows more than most about Marstons in the City
""Bit of a mystery what is going on at W&DB.. aka Marstons. Brand new HQ built and the staff moved out to a rented office. Selling off the family silver... The business was built on small pubs... """
Investors please do your homework .SC it will lessen your confusion
AIMO. DYOR
Great News!
https://www.farminguk.com/news/uk-arable-farmers-to-grow-regenerative-barley-for-carlsberg_62206.html
Wouldn't worry out of 1500, 61 is not a lot. No doubt he is buying more at less or is doing another deal using his brains? Very sharp accountants now running Marston we can see that from the last colourful update on their web!
Like the update idea re. the Regenerative Barley to be used with a deal with UK Farmers very much, as makes us less influenced by a rising dollar on any raw materials or ingredients!!
I do not know what planet Mr Moffitt is on?
every blessing
Rev Shep
This is good news, shows that Marstons are making sure to review their estate and keep profit centres.
Also this will mean a cash injection back into the group to pay down debts and further strengthen the finances.
Marston's head of estates Judith Rafique said: “Following a routine review of our estate we have taken the decision to offer to market a varied range of property types. This enables us to focus on our strategic objectives and maximise returns from our core estate.”
Christie & Co senior director corporate pubs and restaurants, Noel Moffitt, who is managing the sales process, said: “This is a fantastic opportunity for individuals and multiple operators to acquire established successful public houses across England and Wales.
"The pub sector has been very resilient over the last few years and has adapted well to the challenges and despite interest in the sector there is a lack of properties on the market. This portfolio offers new entrants and existing operators a wonderful opportunity to acquire investments or operate their own businesses.”
Earlier this year, Marston's reported its like-for-like sales? were up 4.5% for the 16-week period to 21 January 2023 compared to FY2020, the last period unaffected by Covid-19, with the pubcos drinks sales outperforming its food sales.
"Marston's to market 61 freehold pubs," is this a good or bad thing,1 it gives the surrounding pubs more revenue and takings,2 is the raised money being used to pay of debt or refurbish other outlets,3 getting rid of unprofitable pubs makes a takeover more appealing,
Marstons has 2 strong groups, and both have continued their high spending habits.
Middle-Class and Retired People = lots of expendable cash and no debt as mortgage paid ect...
You can see it for yourselves, Marston has retained a relatively high level of customers, as their core audience have been less affected by the cost of living.
Due to international and domestic travel still being tricky, this has seen people spending more money in their local Marstons rather than day trips to London (knife crime keeping reasonable people out of the city), or aboard.
We can see this trend in luxury fashion, where the cheap brands are slowing down, with the middle to premium brands still making good revenue.
Agree with you Karl as Unfairtrader gets confused once again. Ifc people have less money to go out they simply go down the local. As you say many see this as a regular trip and do not even refer this to going out. Many regard the local as their own home lets be honest! The other thing is if people have less money they are more liable to stay in the Uk than go abroad and the captive audience for Groups such as Marstons is increased over age yrs. Not withstanding to go against unfair trader again if people stay at home they will consume home beers such as Marstons and Carlsberg. His argument actually helps Marstons. I will add also that when people are feeling depressed or down they need a pick me up and for some that is going for a few beers with your mates, or family. Marstons appear to have all bases covered as well as now with the movement of people around the Uk for w/end sport Football/Rugby etc. that they have not had in recent years during the pandemic. So all round a very much recovery stock this. Shame he cannot see it with his negativity which is his only reliable thing - every time!
Frankie and Bennies is not really comparable to Marstons, who is going to Frankie and Bennies for the ambience and to spend an evening with friends?
Also Frankie and Bennies are part of the Restaurant Group, which overall is consolidating their locations.
Good thing for Marstons is that their "wet trade" aka alcohol is now more profitable due to the carlsberg Marstons partnership.
Seems eating out is becoming too expensive for many, the Group that controls Frankie and Bennies are closing several outlets due to consumers using home delivery ( Uber eats, Deliveroo etc). Let's hope Marstons are getting in on the Home Delivery market.
The share price dips are good for traders who can make hay while the sun shines!!!.
Buy Buy Buy!
Thank you the market for the dip! time to load ready for spring/summer profits!
catch the dip
final shake of the tree, build momentum ready for spring and summer.
Here we go! Summer is on the way, time for a massive re-rate.
Ran the numbers on this and CCR, (great find Karl), and both have tons of profit to be made with the price moving back to fair value.
Im in this and CCR, expect both to start rocketing up with the summer coming.
and a nice 239k buy gone through at the close
Let's hope so Karl, holding MARS and RBG. Cheers :)
time to buy for the rise into summer!
going to be a great year
That's what the Analysts say
https://www.proactiveinvestors.co.uk/companies/news/1007969/buy-beer-say-analysts-1007969.html
some good buys at the end of Friday trading, looking at other leisure and entertainment there appears to be a platform formed with the sector making a move up into the summer months of the northern hemisphere.
Fairdealer, I think the poster means CCR, owns magners.
The C&C I know is a Cider and drinks producer, which seems a logical connection with Mars. Which C&C are you referring.?
@FD20, i think you are confused about C&C.
It looks like C&C will be debt free soon.
They managed to get the debt from 362.3m down to 191.3m in a year, from 2021 to 2022
Looks like they will have cleared alot of debt during 2022.
from last report 17th May 2022 07:00
RETURN TO PROFITABILITY: RESULTS FOR THE 12 MONTHS ENDED 28 FEBRUARY 2022
EBITDA profit: €79m = great profit margins even in these tough times
Debt with lease: €271m = debt reduced and cleared soon
Liquidity = €438m
Yes "wreck it" Ralph