The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Just skim read the Spoons figures. If this is a good indicator of the sectoral trading picture then the only way for this share is up.
Very sad short trousers still posting unreliable posts where they now feel Lloyds is just a Marine market but just think in ten years time they might actually come up with something reliable? Certainly the ignorance of the LLoyd's Market shows a complete limited knowledge of the whole,of the London Market.
I will report back on their own holdings in 3 months time and compare with Mars. However they made me laugh with good entertainment whilst they still do not disclose their formal qualifications before they get home, change, and come off their play-stations to walk the dog! Warren is amused too. GLA.
FD
Thanks for raising the specsavers aspect, I was wondering why he was confusing Lime Street & Chatham with 25 Gresham Street, but there again nothing surprises with the posts he makes.
Being a generous person, I've wished he could be likened to a broken clock, which at least is right twice a day, way better than his record. Still at some point he will have his broken clock moment & when that happens he will possibly liken himself to Warren Buffet, or maybe even the man who taught Warren all he knows ?
Meanwhile he struggles to see that one can buy 57% more shares at 28p than at 44p.
Sad really.
SC seems you need an optician
. Please tell us where Shipping Insurer is mentioned?
Still no correct answers from the shortest of shorts! Totally unqualified/ unproven and unreliable reply now he thinks Lloyds of London is a bank? Shows he is not out of his short trousers - yet. I doubt he has the 11plus? never mind we have not long to go for the results update next week. -Keep shorting shorty to help my purchases.
Is that the best you can do? As any Retired Banker will say, "never catch a falling knife".
Remember the Qualified Professionals you refer, are using historic data now more than a year Old. The market is clearly sceptical about the NAV. Unless you know the consideration Christie's have achieved, the probable value of those PUbs are less than Book value.
i enjoy this short game tbh. i just refer to how good a share is, the short trousers **** off any comments and i simply buy some more if the price is cheaper-they don't seem to get it? or they could just concentrate on the releases from the company itself which are at complete odds with their expertise and rather than waste time writing comments that have no relation to the company updates at all they laughably want me to disclose my position -perhaps they should disclose their so called expertise, their own position, what hedge they hide behind, and why they are qualified to make such statements over and above the qualified accountants , and lawyers the company uses? or seek clarification to their doubt from the company itself - never mind. atb.
Superpuffer
If you are as smart as you imply why were you buying so enthusiastically at 44p when you could have bought 57% more shares now at 28p ?
Sorry but I am a little confused...
I am pleased those in short trousers are helping me with my purchases. Yes not long to go to see how this Company is doing with a forthcoming announcement very soon. The sector is recovering post pandemic whatever those shorts tell you, because secretly they want to buy your shares at a cheaper price for their £200 discount coupon. Which is why they get so excited (& negative) when positive posts are made. However they are not getting my shares just before this announcement where M&B (who Marston we here sell beers to anyway) Wetherspoons and Whitbread all point to a growing sector. Tescos to falling wholesale prices. Enjoy the beer gardens this weekend! GLA.
@Superpuff (the magic dragon)
"28p share-great value. Happy days!"
Who are you kidding ?
Surely not those poor mortals who took notice of your ceaseless puffing in Jan/Feb this year as a strong buyer at 44p ??
How many more shares these people could have bought at 28p today rather than 44p then on your exhortations.
Is this, like ESKN, an example of your reverse Midas touch ?
the updates this year and the agm statement in january have all been fairly positive. either the market is seriously undervaluing marston's shares or there's been a lot of bull**** talked. the shares have massively underperformed mab and wetherspoons . i think next thursday there is a trading update.
The accountants NPV show a share value of over 90p, then clearly the assets of over 1400 plus pubs, with the retail and wholesale values point to give Marston's at a 28p share- great value. Happy days!
The Company releases are also very positive and worth a read. Expect another positive update from the Company very soon and the Company web is well worth a look! GLA.
Have you any idea how inflation works? With such crass comments even an inexperienced investor must wonder what you are on.
I'll give you a little help. Inflation is a yardstick of how much more expensive goods and services are compared with recent past. For instance many fresh food items were over 17% more than a year ago. Only now is the rate of inflation falling. It does not mean prices have reduced on the contary they are still increasing but at a reduced %.
Do'nt runaway with the idea increased sales equate to higher profits which is what astute shareholders want to see.
It is the sales cost analysis that matters on any balance sheet.
Being a constant ramper does not appear to be listened too, judging by the constant slide of the SP.
SC, as your elementary Maths teacher would say, " you must try harder2
Superpuffer
Hopefully MARS next statement is shorter than yours.
You seem to be the master of using 20 lines of text when 4 would suffice. Did you never learn precis at school ?
Inflation erodes debt over time (anyone with an old mortgage will tell you that) and generally wages rise too,
The CEO refers to people returning to enjoy the pub experience, which will be cheaper in pubs if one is worried about spending, than going to an uptown wine bar! However the B.O.D also refer to the fact their own surveys have found whilst people are enjoying the rewards of going out to Marston pubs, they are also prepared to pay more than before when doing this whilst making the most of this experience. The B.O.D refer to increased sales and using the profits to reduce the debt further which makes sense. They also say Franchise partnerships have also been a success and so this might lead I suppose to a shared ownership of pubs with the Company Carrying less debt and the Landlords applying for their own business loans? Weather has been surprisingly warm with record levels for September and October is following suit. The B.O.D refer to this helping sales. One of two have said the warmer weather was slow to arrive this summer, well yes but it is still here and will be with us for some time yet. Lowering costs such as heating bills. Debt reduces in real terms with inflation and wages rise, warmer weather increases sales and reduces heating bills. Next statement will be interesting and I feel encouraging and feel it is a good time to top up. DYOR, GLA. but read the official company releases.
Debt, Debt, Debt, Debt, Debt, - Sales may have increased but so have prices, cost of eating out now prohibitive especially if you have a mortgage, drinks now £4.50 a pint going on to £5.00 plus - Yeah good time to top up Supercharger if one can wait
for years for a decent return !!!!! And all the time one can get guarenteed 5 o/o plus for one year - Oh , i forgot, the dividend will be paid soon for all the loyal idiots wont it ??????
As summer is now officially over didn't you mean an autumn roasting ?
Talking of roasting, your good self has been receiving some severe roastings on the ESKN site, I noticed, to such an extent that you had to resort to using your CV due to several posters there being less than complimentary to you.
Calm down dear, please.
All I want on this board (& I suspect many others want) is a sensible discourse as to why the SP has been trashed and what are its chances of recovery.
Inflation is reducing and Sales and increasing.
Talk of 26 degrees in the Uk per the weather forecast and for October? However the days will soon become shorter soon -Just like the shorts who have returned for their short break? I can see a summer roasting coming for them soon. Time for me to buy some more today. GLA.
Superpuffer
I note your regular morning salutations were a tad late today, was that because you were doing your deep breathing exercises before you could raise the normal puff ?
I ask because your regular puffs are becoming shorter by the day, nevertheless a welcome is still a welcome, which I accept with my usual polite grace.
Inflation is reducing and Sales and increasing. I wonder what that means? Looks like the shorter and the even shorter have it wrong again.
Any increase in sales of less than 10% means a company is going backwards. Inflation cannot be ignored and neither cost of sales.
But on the other side of the coin another old listed pub in the Wolverhampton area suffered what has been reported as arson a day or two ago which in itself could indicate trade was not as good as super puffer is suggesting.
I prefer not to be a "Mystic Meg" with figures before they are announced but to analyse them when they have been announced.
The 15k at 15 27 this afternoon was a buy not a sell.
Yes according to M&B the sector has picked up and Marston have said sales increase with the warmer weather too. As I understand it the brewery also supply sales to M&B in any case whether direct to them or by their own wholesalers. Wetherspoon have their results next too and this should give further indication of the sectors performance, and then we will see how Marston are doing. I will be disappointed if we do not see at least another 10% plus sales improvement. Not long to go now-fingers crossed so that fair value will return to shareholders and the accountants share NPV of 90p plus!
Shore Capital: Mitchells & Butlers is ‘inexpensive’
Shares in pub group Mitchells & Butlers (MAB) are inexpensive despite a strong balance sheet and building momentum, says Shore Capital.
Analyst Greg Johnson retained his ‘hold’ recommendation on the Citywire Elite Companies + rated stock, which was trading at 223p on Thursday.
A fourth-quarter update from the group showed ‘momentum during the year’ had pushed into the final three months of the financial year, with like-for-like sales in the 52 weeks to 23 September up 9.1%. Full-year results are expected to be near the top end of expectations.
‘The group continues to trade well, the balance sheet has significant property backing and the shares are inexpensive,’ said Johnson. ‘We have a “hold” stance, noting the limited cashflow relative to its bond amortisation schedule, with better value in the likes of Marston’s (MARS) and Restaurant Group (RTN).’