Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Joe suggest you read the previous waiver applications, this is the 3rd in 12 months. On the last occasion HSBC agreed a waiver on the basis loan payments were reveiwed in April 2021 when business activity may have returned to some form of normality. The conditions of that waiver includes the transfer of the Bonds to BNP Parabas when interest rates will be amended on agreement at the end of this year. If agreement on rates are not agreed there is a formal mechanism to remedy any impasse that may exist. The agreement with BNP Parabas will not allow further waivers. Not at this point but after transfer to BNP which is later this year.
Would've gone above that this morning if it wasn't for the RNS I reckon.
(albeit still a positive RNS, agree that MARS will emerge very strongly, expecting a rise anywhere between 1.30-1.50 come summer)
It looks to me that RF was right to bin off their approach. £1.05 (and beyond) is easily achievable in the short to medium term now with possible easing of lockdown and I understand that beer & fag duty not being increased.
Just want to add here that 'staycationing' is going to have an absolute bumper year, and thanks to rishi's plan, pubs will really reap the rewards come June- Sep.
Reckon this will be nicely reflected in the SP soon enough.
Well if Rishi extends the furlough until September then combined with June openings- in which time consumer spending will be at an all time high- it will give businesses in the hospitality sector enormous financial flexibility.
I see a 6% rise say happening tomorrow. Can it break the previous two highs?
I agree, but I think I'm going to remain optimistic here and say that sunak will announce positive measures. And whilst it's all well and good to look at fundamentals, this pandemic has proved to me more than ever is that share prices (particularly in this sector) are being evermore driven by investor sentiment. I think you'll be surprised this year by how much these losses could nevertheless be made up, I'm certainly not underestimating the massive pent up consumer demand for spending/drinks out.
So predictable today, lots fooled by a small retrace, only to wish they hadn’t when Mars jumps 6% on the open. Tomorrow can only be good news for this industry. There will be no news that could be bad let’s face it. Sunak will sort it I’m sure. Imo
As seen the SP is not breaking through 105p, we may be surprised, as will the market, by the details Sunak announces tomorrow. The leaking of Budget specifics, is highly unusual and could be a smoke screen. No doubt Sunak will have some surprises. Other hospitality chains have good NAV, even MAB. Compare MARS and it does not give the comfort found with those in the Peer grp.
Investments in this market is risky, those making money are basically Day-traders. Patience and nerve is required for longer term benefits.
I take it you think a somewhat ceiling has been reached here then?
Putting all your eggs in one basket is never a good policy. Fullers, Shepherd and Neame are up, MAB are down but that is as much to do with intergration of the RI. Any Alcohol Duty reduction is extremely doubtful. The £5B pot expected appears to be going towards creating "Community Pubs" which may help MARS with some disposals, although not sure RF wants the Estate to reduce further against the back ground of the Welsh Mission. There may be some short-term spikes which will enable those who have some exposure, to get out with profit.
Longer term, much depends on the re-opening and how debt is going to be managed. Like other Pub/Hospitality chains we have enjoyed a VAT holiday, MAB have got to find £30m, we have no information what the liabilty is here. There will be No profit for the current year and looking further ahead Bond-holder caviats will not allow dividends for at least 2 years even if profits allow.. It will be good but surprising if we see the SP approaching 130p anytime soon, it is more of a mirage as things stand. Let's hope RF does not rue the day he refused to engage with Platinum.
All pub stocks seem to be slumping today; not sure if that's due to the mixed news reviews over the budget. Nevertheless, think tomorrow will be boost we need to surpass the £1 level and prove the CEO right- that this share is indeed worth far more than 1.05..
More invested here than ever at the moment, so hoping tomorrow will finally give publicans the clarity and support they need. Looking forward to the future with everything reopening, think this is a great buy, particularly for the medium term.
Definitely top up time now before the big announcement and the return to normality, think all chances of buying in any lower now are very unlikely, can see the positive retrace continuing now right up until Autumn/xmas
£1.10 - £1.15 EOW, GLA all.
£2.
Wonder what this SP could reach by the end of summer if normality really does return
Seemed to have supplanted it with grants instead
I’ve not read that they will cut the tax, only that they might make it so that retail of alcohol pay more than pubs.. so, that might mean they just keep it the same (or possibly raise the tax across the board) and increase it for supermarkets/retail.
Barchid,
With a slightly different hat on, in another business I have come to blows with the masquerade known as equivalence. The EU conned the UK, just hope other states who are in open rebellion, are begiinning to see the light, that the Commission is not serving the peoples of Europe.
Back to the topic, Sunak has some horrendous economic man-traps to avoid, a share transaction tax has been mooted for some years and may be gaining traction given the prevailing headwinds ( £2+trillion) debt). Clearly warnings of the BOE and the double forces of the EU and New York endeavouring to gain financial dominance at London's expense is a very real concern. IMO the blue water will emerge due to the fractures appearing in EU unity.
It is unlikely alcohol duty will be reduced when Sunak is promising £5 billion in aid , spread over the hospitality sector and retail. We cannot expect to get support both ways.
AIMO
Fairdealer
Wednesday we will know if there will be a further tax on share dealings but my thoughts are it's highly unlikely as the idea of equivalence with the EU seems a dead duck, so moves to free up the financial markets seem more likely to me.
Puts a bit of blue water between UK & EU, which the BOE have been seemingly implying.
Good news for the sector.
https://www.morningadvertiser.co.uk/Article/2021/02/27/How-much-are-new-lockdown-grants-for-pubs
A share transaction tax would hit hedge funds and high frequency trading? Unless there is a loophole, so I guess they’ll be a loophole! With us PIs getting clobbered as usual.
Having seen 1st hand what tends to happen is the first few thousand hectolitres will be at a nominal Tax rate and then a taper comes into play. This is done in order to protect small craft brewers whose overheads are proportionately higher than the big breweries. Not sure I can share your almost total confidence.
Sunak will have to address the massive deficit at some stage, not necessarily next week although, and there have been rumblings, some less painful to the general public, the imposition of a share transaction tax. The Chancellor already has a captive market with the 100's thousands of new investors who have arrived in the last 12 months. Just think about the revenue that can be made from the "casino users"!!
Its circular flow economics and its something that epitomises the whole financial ethos of the conservatives - get people to spend money at the expense of the govt., to make more money back for the govt. in the longer term (which is why the treasury is always better under a Cons govt. than a Labour one since Labour/socialist ethos = raise money by raising taxes). Sunak is highly likely to cut tariffs or introduce things (like we've seen with eat out to help out) to get people to spend money and get the economy going.
I am 99% sure that beer tax will be cut and MARS, MAB ect. will prosper as a result of this in the coming year