Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think my glass is now half-full. Call it beer goggles but I am detecting a nice rise here. Rug's it's your round after getting in lower :). Good call!
i'm confident price will hit close to 600 over next couple of weeks then settle around 620 for a while before a further gradual ascent, its a good company that i've wanted to buy into for a long tme.
GNK my best performing share atm, that's how bad it is. From my two purchases @562p & 540p, I am just ahead. Looking to keep some or all anyway for the good divi.
Rugs, Hope the rise this morning helps. This is against the overall FTSE100 trend. Most of my shares are down this morning.
MW. Bought these as well late last week as felt the sell off was overdone. Am a little under water at the moment but reckon by end of the week will be approaching breakeven !
All hands on the beer pumps...we are going blue.
I sold out at 663 with a loss. Personally see this share dipping below 500 in which case I will consider selling some lloyds and buying back in. I see the bottom being around there sadly as on the whole GK seems a decent company - just not flavour of the month. I do wonder whether the dividend can be maintained as there are lots of internal pressures...
Pull your socks up...we can go blue today.
market wants blood 👿
That's okay. Seems like they are flatlining for a few years whereas the market wanted growth, Have just bought in.
Whitbread down a lot too this morning.
Esh thanks for that data.At those figs that gives GNK going forward a PE of <7,a pre tax profit of 84p per share and at a divi cover of 1.5 around 42 p per share or ~7%. I'll settle for that!
Analysts at JP Morgan marked down their target price for shares of pub operator Greene King on anticipated lower sales growth at its main unit, Pub Company. More specifically, they cut their fiscal year 2018 forecast for profits before tax by 4% to £260m, anticipating like-for-like growth of 0.1% at Pub Co., down from 1.7%. Their fiscal year 2019 PBT forecast also came down, by 6% to £270m, based on LFL growth of 0.8% at that same unit, versus 1.5% before. As a result, their target price for the shares was revised lower, from 750p to 650p, and their recommendation kept at 'neutral'. In the same research note, JP Morgan noted how LFLs appeared to take a turn for the worst since mid July due to the wet UK 'summer'. However, weakness was concentrated in the company's value food segment and management had responded with "measured capital investment". They also noted management caution due to weaker consumer confidence, higher costs and heightened competition, although Pub Partners and Brewing & Brands had performed better over the first 18 weeks of the year.
Unfortunately it hasn't found its bottom yet Casapino. You would hope after the large fall that it would recover ( I expected to £6 over the short-term). It is down a further 3,5% so the market is not convinced there are not further falls possible. Still holding myself and may buy some at 500p if we hit that low. We must be attracting bottom fishers now but a 3.5% fall today after Friday's around 19% fall is not inspiring.
20p down on the day...must try harder.
Are you aware of what operational gearing means?.
I've just bought in for the following reasons- Fall IMV overdone, divi at this price is ~6%and >1.5 times covered by cashflow,While discretionary spend is under pressure i think its more likely to hit higher up the market see TRG eg, trend towards real(ish) ale is good for GNK and sterling 's fall will make UK brewed beers more attractive in price terms, bit of a washout summer(at least in N England!!) will have had temporary effect on sales. I'm happy to hold for a long period and expect to return CAGR of >10% from my buy price~540 between divi and cap growth.
End of June, sales up 1.5% Then sales down in the next period 1.2% and it's a calamity!! A FULL 1.2% Jeez!
540.5p sell 541p to buy spread is very narrow. Market wants some activity ?
540.5p....think this is very cheap
Nearly sold at peak on Friday but decided to hold. Good price at £5.42 but do I want more of these shares ? If I do I may need to sell something else, but not sure what.
Good post Mao. I had expected us to regain £6 quite quickly but we fell into a second wave of selling (or shorting). It is hopeful that we haven't had a second large drop though still down 1.5% It is quite possible that we will hit £6 by xmas and Greene King did have a strong xmas period last year. I do fear another profit warning however. Look at UPSG this morning; "The overall trading environment for general merchandise has become tougher, with wage inflation running behind general inflation. Consumers' discretionary spend is under pressure and confidence is therefore lower than it has been for some time, which is inevitably being reflected in purchasing behaviour. " Are we living in a house of cards? I also read at the weekend that foreign beer companies might be putting their prices up. Would this be good for GNK? Would some consumers switch to UK brewed fayre instead? I am hopeful we can get to 585p again as yield hunters will say this is cheap and covered. I also think it will struggle there as it is probably a trigger point for selling.
Will GNK be immune from the: "Profit Warnings Usually Come in Three's" curse? Is this just the first? Now I'm beginning to sound like the CEO - a depressive! How on earth does he motivate and build morale with such a continual downbeat outlook on life? I've always bought into the mantra that CEO's, above all else, are world class salesmen. Never met a 'downbeat' salesman. Perhaps the BOD start each day by seeing it as part of their jobs to cheer the boss up?
May be a slow process but this will be back to £6 by Xmas IMHO. I say more staycations will be good for GNK. Articles this weekend are suggesting that overseas holidays costing more have left households with less disposable income to spend. I suggest both are factors...and may cancel each other out over a financial year.
Director took the opportunity at marstons to have more than a top up! http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/MARS/13357073.html