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Pea porridge wheres that i know of bury be interested to know
I have Greene King in my Watchlist as I live near Bury St Edmunds. On Wednesday I was in the Dog & Partridge which is a GK pub next door to the brewery and it was heaving! Maybe Quiz Night helped but I got the impression that the right pub in the right place offering what people want is a Nice Little Earner. Later I ate in a restaurant in Bury called Pea Porridge which has only been open 8 months and is already considered by some to be the best restaurant in Suffolk - it was fully booked mid-week! Anecdotal evidence but I suspect a sharp rebound in some Leisure shares.
This is finally moving in the right direction. its been depressed by that issue with fair rent, they still have the war chest to spend from the recent shares issue so what they doing with that i wonder???
With the good results being posted by the owners of Garfunkels looks like a trend is appearing here steady rise to £5 looks on the cards....hmm keep going GK...Marstons might be worth a look at i think
well its not chef & brewer its been discarded, might be a few buys i think of their sites for sale , so maybe the Marstons is still being looked at?
hear strong rumours of a merger with Marstons in the publican and from other areas, recent RI approved by shareholders at MARS but this will only act as a carrot for GK. Looks like a godd fit for me could see the sp rise towards the x divi date and beyond
Dividend Although earnings were lower than last year, our ability to convert profit into cash and to manage our balance sheet tightly has allowed the board to recommend a final dividend payment of 15.1p per share, being the equivalent of 18.7p per share before adjusting for the rights issue. This, and the adjusted total dividend of 22.4p per share, are marginally ahead of last year. The final dividend will be paid on 14 September to those shareholders on the register at the close of business on 14 August.
Highlights •PBT of £118.5m* vs. £115.0m profit forecast at time of rights issue •Retail like-for-like sales up 1.7% whilst maintaining gross margins •Pub Partners' trends have stabilised •Belhaven achieved milestone profit of over £30m*; growth of 11.9%** •Strong market outperformance in Brewing Company; own-brewed volume +1.8% •Unique amongst major players in ◦Continuing to pay down debt (£46.9m) ◦Maintaining capital investment (£84.5m) ◦Holding our dividend •Successfully completed £207.5m rights issue post year-end ◦Eleven high quality pubs acquired (£30.4m) ◦Bonds repurchased (£22.4m nominal) •Although outlook remains uncertain, current trading is encouraging
any idea when ex divi is and divi paid? see this will move up towards then cant seem to find date
hes ok once you get past the thick glasses...they are looking at other sites at the momment would be surprised if Chef & brewer are still in the frame. But 11 punch sites hmmm c'mon who they trying to kid they need to look at the estate its in a torrid state with expenditure frozen as they have internal changes. They need to look at the brands too many and not a young brand in sight, they will get left behind if not careful. However with planning permission to carryout 24 hour bottling of speckled hen increasing brand this will shore up the shortfall of footfall into the pubs helped by the big supermarkets, expect to see a return to shareholders in a dividend in July so now dilution has happened share price should go north
That's £2.8mn per pub. To make that pay they'll need to sell an awful lot of beer. Wonder what qualification their FD has?
More pubs are set to join the Greene King stable, after the Bury St Edmunds-based brewery announced a £30.4 million deal. The purchase of 11 freehold Punch Taverns will be financed through funds raised from Greene King's rights issue in April. The deal should be completed by July 1
verygood hear many rumours of interest in other brewerys not doing so good wonder who they are looking at could it be spirit group or some of Punch's managed estate?
a message from Rooney today this is all boiling up to my earlier post freeing up capital to head for a takeover i still see Punch sites as being the weak lin
Rights issue at 270p... http://moneyam.uk-wire.com/cgi-bin/articles/200904230700150301R.html
There is talk of an interest in the managed division of Punch, obviously they are in trouble as we know and have tried to offload to every brewer except GK. My view and it is that is that GK could possibly looking to aquire some of these as they have a substantial war chest from the financing of properties to raise capital through setting up mortgages i believe in the sum of £350M now that was al done i think with AXA before the major crash in October 2008. So as these compaines start going pop it leaves the medium size fish like GK to flex the muscle. However there has been talk of Braines in wales as a target and a company up north, but not sure who that is......but what intersts me is generally all leisure shares have moved on the back of nothing is this hope is it false will there be a retrace who knows but im enjoying it :-)
No idea but as I'm sitting on a very nice little profit I won't feel the need to drown my sorrows tonight.
what is going on day on day increase anyone please????? im very happy
anyone drowning their sorrows with Weatherspoons announcement of a £1 a pint doesnt seem to be detering trades today......any ideas while i sip my pint of good ole Abbot Ale?
David Stevenson (FT/Investors Chronicle) has become a shareholder and mentioned it as a good stock on The Four Wise Monkeys - See the original discussion at http://www.4wm.co.uk