We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Broker Recommendations for Marstons (MARS)
Date Broker Recommendation Old Target New Target Rating Type
11-Oct-23 Shore Capital Buy - - Reiteration
23-May-23 JP Morgan Cazenove Neutral - 54.00 Reiteration
16-May-23 Shore Capital Buy - - Reiteration
16-May-23 Peel Hunt Limited Buy - 75.00 Reiteration
24-Jan-23 Shore Capital Buy - - Reiteration
07-Dec-22 Deutsche Hold 44.40 44.40 Reiteration
29-Nov-22 Shore Capital Buy - - Reiteration
02-Nov-22 Shore Capital Buy - - Reiteration
27-Oct-22 Deutsche Hold 50.00 44.40 Reiteration
12-Oct-22 JP Morgan Cazenove Neutral 59.00 54.00 Reiteration
11-Oct-22 Shore Capital Buy - - Reiteration
28-Jul-22 Deutsche Hold 60.00 50.00 Reiteration
27-Jul-22 Shore Capital Buy - - Reiteration
25-May-22 Deutsche Hold 65.00 60.00 Upgrade
18-May-22 Shore Capital Buy - - Reiteration
11-May-22 Deutsche Sell - 65.00 Reiteration
03-May-22 Deutsche Sell - 65.00 New Coverage
12-Apr-22 Peel Hunt Limited Buy - 120.00 Reiteration
25-Jan-22 Shore Capital Buy - - Reiteration
19-Jan-22 Peel Hunt Limited Buy - 120.00 Reiteration
17-Jan-22 Berenberg Bank Buy 120.00 120.00 Reiteration
11-Jan-22 Shore Capital Buy - - Reiteration
05-Jan-22 Berenberg Bank Buy 140.00 120.00 Reiteration
30-Nov-21 Shore Capital Buy - - Reiteration
30-Nov-21 Peel Hunt Limited Buy - 120.00 Reiteration
30-Nov-21 Liberum Capital Hold - 90.00 Reiteration
03-Nov-21 Liberum Capital Hold 100.00 90.00 Reiteration
14-Oct-21 JP Morgan Cazenove Neutral 95.00 85.00 Reiteration
13-Oct-21 Shore Capital Buy - - Reiteration
13-Oct-21 Liberum Capital Hold - 100.00 Reiteration
29-Jul-21 Liberum Capital Hold - 100.00 Reiteration
28-Jul-21 Shore Capital Buy - - Reiteration
23-Jul-21 Peel Hunt Limited Buy - 125.00 Reiteration
06-Jul-21 Peel Hunt Limited Buy - 125.00 Reiteration
06-Jul-21 Numis Add - 9,600.00 Reiteration
22-Jun-21 Shore Capital Buy - - Reiteration
20-May-21 Liberum Capital Hold - 100.00 Reiteration
19-May-21 Shore Capital Buy - - Reiteration
19-May-21 RBC Capital Markets Sector Perform - 105.00 Reiteration
19-May-21 Peel Hunt Limited Buy - 125.00 Reiteration
12-May-21 Liberum Capital Hold - 90.00 Reiteration
07-Apr-21 Liberum Capital Hold - 90.00 Reiteration
01-Feb-21 Shore Capital Under Review - - Reiteration
08-Jan-21 Shore Capital Under Review - - Reiteration
09-Jun-20 Peel Hunt Limited Buy - 95.00 Reiteration
18-May-20 Berenberg Bank Hold - 50.00 New Coverage
27-Jan-20 JP Morgan Cazenove Neutral 132.00 128.00 Reiteration
27-Jan-20 Citigroup Sell - 80.00 Reiteration
24-Jan-20 Shore Capital Buy - - Reiteration
10-Jan-20 RBC Capital Markets Sector Perform 120.00 130.00 Downgrade
You obviously cant offer assets like bricks and mortar to settle outstanding trade debts , they generally only come into play on a forced sale basis which is what is now occuring. Dividends will not re-appear for a long long time , if ever and cheap sales that recently occured im a certain supermarket , only go to paper - over the cracks!! Personally, I am so far underwater that it is pointless selling ! Poor Board, Poor Gameplan, Poor Share !!!
Loan costs are beginning to hurt. Interest swaps have created a loss of £20m before tax. This maybe a one off, however loan debt of £1.5b must be maintained. Total debt is recorded at £1.5B. Loan debt before Leasehold liabilities amounts to £1.15b, which is a decrease of £31m against 2022. The aim to acheive £1billion by 2026 presents a good if formidable target., but still too high for a company of this size.
Resuming dividends are a distant wish for those who came in at much higher SP.anyone who says "who cares" should remember those long suffering shareholders.
With a NAV more than 3x the existing SP, the time was when Asset strippers would be crawling all over this stock, but for some reason it has not happened.
The Directors are at least prepared for possible further economic torpor. Read their "Going Concern" statement .
Unfortunately another bad set of results and still no divvie, can't realistically see anyone wanting to buy these.
Super Puffer
Hargreaves, the astute company which backed Neil Woodfoed all the way down to oblivion, if you follow their advice you may well meet the same fate as their other investors.
Surely even you can do better than that for a reason to puff, or are we going to have to wait for your "Midnight Rambler" performance again ?
My apologies to Mick Jagger of course...
After an oustandingly average set of results, are we to believe that this super investment, that to all knowlegdable commentators is worth over £1.00 each share, will soon begin to show an amazing turnaround in fortunes and explode upon the share scene despite debt, debt, debt, and a potential 10% hike in minimum wages just around the corner ???
Behave yourselves and admire the falling share price ATOW £0.297 !!!
Which is why Hargreaves said mentioned today "The evolution of the company's pub portfolio was marked by market outperformance, with its predominantly freehold pub estate and limited exposure to city centres continuing to benefit from consumer lifestyle changes"
So not so sure they agree with you Mr Wolf!
Yep, price is close to Covid times when they were all shut.. why are they bothering to operate if the sp hardly differs from pubs trading and when closed. Sell the lot.
The business reported revenue increased 9.1% to £872.3m (2022: £799.6m) during the period, with total retail sales in the group’s managed and franchised pubs for the 52-week period up 9.8% on last year, and like-for-like retail sales for the year as a whole were up 10.1% versus FY2022. Underlying operating profit excluding income from associates was £124.8m (2022: £115.4m). NPV now over a £1 a share. Must be a venture cap.opportunity here soon! Note Prop value well of £2billion despite disposals and re-value in the new year where disposals are greater than book values.
Adeg1,,got to agree with you on this one,it seems no matter how good the results are,and how many chances of, extra public holidays,record highs in weather,energy bills hedged,change in directors,this share price is still close to record lows during the covid era when not one pub,club etc were open and trading,
Close them all and sell them, liquidate the company and we all get £1 per share.
The pub industry profitability is only plodding along, although increased revenue figures are welcome. The next hit to the business will be the large increase in minimum wage rates in April. Hopefully the SP May return to £1..in 3 years ?
That would make a welcome change from doubling/trebling our losses here over the past 3 years..
Who cares, double your investment in 2-3 years...
No dividend however small for 2023 will we ever see one again.
On the right track.
Nice update, looking good and debt reducing.
New CEO in January, fresh start... Gla
Tomorrow / 5th December's announcement is unlikely to be good (not particularly bad either admittedly) if we compare it with MAB's:
- costs / inflation were higher than the revenue rise.
- not necessarily any guarantee that Xmas will be good due to reduced consumer spending projections in general.
And MAB benefited from improved sales partly due to tourism. Marston's does not cater for tourists but local areas, so the return of tourism isn't something it can benefit from.
Thus, I suspect profits will be very low, or Marston's may even get back to being a loss-making company for this year - I'd wait for one more year to expect to see improved profitability.
So I don't expect bad results, but not good enough ones to be optimistic about the company in the very short term.
Confusion reigns? SC's calendar is not only 10 years out of date, he believes the new CEO Justin Platt, is already at the helm. He begins on 10th January 2024, until then Chairman William Rucker is managing the Company.
Thank goodness SC is not in charge of PR ???
As always DYOR.
Yes U/c Cop LSE have informed me for your 5th (all being well) which is for you in the Uk tomorrow-sorry for the Confusion.
Isn’t the announcement due on the 5th making Tuesday not tomorrow ?
I am looking forward to Mondays results and will to seeing how much the new management have contributed to a brighter outlook. Not sure if they will mentioned any merger or prospective takeover speculation at this stage, but the share price is in line with a likely approach. All of the official releases are now feeding the market with more positive news and growth for 2014. My own Brokers have moved this share from neutral to strong buy so hopefully many others will soon too. Christmas is coming too and as reported on National News this is the second most important period for Pubs. GLA.
SC what are you talking about? Concentrate on the facts and not hypotheticals, which will only lose you money.
What Establishments are you referring too?
Do you need a lesson on Stock-brokers/ It seems you trust them with your cash or have the Free shares gone to your head?
You should consider investing in a New Abacus
Should be good for the future growth potential. Thought would mention after hours-no help required great day all round in the markets.
Unfair now needs to actually see where the Establishments are located (which clearly he doesn't), and then fails to realise I was not even talking about them I was talking about the London Market stock brokers and analysts who have raised their expectancy on this share. I do not know one who currently holds his share as a share recommendation. He/she obviously knows more than the London Financial market.