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I see there is a piece in The Grocer and a couple of other publications today saying that CAMRA have approached the CMA to investigate the JV with Carlsberg.
Asking for an enquiry & getting one is quite a difference but I doubt many people were expecting that a request 0might even be made. Google has the full story.
lower vat on food to equate with supermarket restaurants wiggy.
Dose ... I think should be, BUT NOT ON ALCOHOL?
sorry, August only for food , https://www.bbc.co.uk/news/business-53337170?intlink_from_url=https://www.bbc.co.uk/news/topics/cmn26jne8r7t/chancellors-summer-statement&link_location=live-reporting-story
Wetherspoon on vat interesting https://www.bbc.co.uk/news/business-53337170?intlink_from_url=https://www.bbc.co.uk/news/topics/cmn26jne8r7t/chancellors-summer-statement&link_location=live-reporting-story
Pub chain Wetherspoon said it would reduce prices on meals, coffee and soft drinks. The company has produced promotional posters to advertise food price cuts, including one called Sunak's Specials and another called Dishi Rishi.
Wetherspoon chairman Tim Martin has campaigned for tax equality between pubs, restaurants and supermarkets for many years. He said: "Supermarkets pay no VAT on food sales and pubs pay 20%. Supermarkets pay about 2p per pint of business rates and pubs pay about 20p.
"A VAT reduction will help pubs and restaurants reverse this trend - creating more jobs, helping high streets and eventually generating more tax income for the government."
But he said that not every hospitality business would be able to reduce prices immediately.
"Some will need to retain the benefit of lower VAT just to stay in business. Others may need to invest in upgrading their premises.
"However, lower VAT and tax equality will eventually lead to lower prices, more employment, busier high streets and more taxes for the government."
"Meals 50% from government if no alcohol" Easy enough for establishments to charge for the food separately to the drinks
What, food but no ale?
That's a bit like masturbation without the payoff.
Meals 50% from government if no alcohol
@ Peltata.
I've said this myself fairly recently. Idiots attending "protests" and those ramming beaches and total new infections - 0.
Pubs reopen and there were supposedly 3 and pubs shut down again???
I smell a rat.
Well as from today vat is cut to 5% on all food in pubs, and they don't have to pass on the 15% savings if they want to put that against lost business in the last few months.
OK most will pass on some but if Mars passes on 5% and keeps 10% to off-set lost sales that could be a big boost to their turnover for the next 5-6 months and maybe push mars into more profits.
@wiggy
Thanks for imparting this information to us but I fear it will go down like breaking wind in a lift with most posters on this board as they criticise anyone who thinks things might not all be rosy in the Marstons beer garden(s).
I have to say I am not surprised to hear this though, as many high street shops might just as well be closed since they have been allowed to open, the only busy places now allowed to trade seem to be hair salons as so many people need a haircut.
Not many Marstons holders need a hair cut though, most have suffered a severe financial one !
I hope this isn't replicated across the Marstons Estate. I have just come for a quick pint (little castle) on return from a bike ride and its empty, other than 2 people on the fruit machine drinking coffee.
I asked if it had been like this all night, pretty much was the reply.
Over the last several weeks we’ve had many protests with no social distancing and many large gatherings on beaches, but no spike in the infection rate - pointing to us being on a continuing downward trend - the media have to fill their papers with something sensational however. This is good for pubs/restaurants- the mask wearing that comes in on the 24th is both necessary and can wait 10 days apparently, I think this suggests the govt doesn’t want to look as if it overreacted initially, as it really doesn’t make much sense.
No, it isn't
@doze
Clearly you understand the 40% I refer to.
Surely it is better to discuss reality rather than fantasy ?
Or is this forum supposed to say, well done lads, only down another 7% today ?
The SP has gone down, if you are holding barchid you must be hoping for better times? There really is no point in disheartening every holder with the bad news we all know about. Not quite sure what 40% you are on about, we might be raking in our 100% until 3rd quarter finalizing of JV. I am hoping for expanded off trade and home deliveries to all the post covid and post brexit poor buying booze from home when the JV happens. My message to management anyway. The country estate will have to up its game where status as a local well supported hostelry does not apply central support will surely help achieve something especially where location and building permit. I hope so anyway but I am not familiar with any of the estate apart from The Tulip Queen (new motel location) near me which was packed out pre lockdown.
@supercharger
But in the meantime we now need a mask to buy a packet of matches, surely this could be extended to pubs ?
And if/when that happens does pedigree become mongrel ?
A point that is oddly lacking by those posters who give their (guesstimates) of the higher price Mars will be tomorrow, next Friday, next month, even, in one extreme case, 2023 !
Sad as I am to see the shares struggle at present, but at least we are relieved, temporarily, of those who seem to think the moon is the limit without even thinking of the debt mountain which needs to be climbed first, notwithstanding the one item of real value being snapped up by an overseas buyer.
Pitcher & Piano royally failed to make its offer price, nor indeed any perceptible interest shown in it, yet that is/was surely worth rather more than the equivalent number of their pubs showing a severe lack of proper investment ?
But of course, the supermarkets are selling so much of our 40% owned product and are giving us shareholders such a generous price for it we will all do so well !
Doubtless these optimists will be back next time the shares go to 50 (65 by Friday, though which Friday is never mentioned), perhaps they don't realise Good Friday is when the market is closed !
Moderna in final trials to start producing a vaccine. Final test now on 30,000 high risks and if successful their drug will be produced. Appears to be on the back of successful prelim trials.
Sooner or later we will have a breakthrough and some pedigree!
My sharedealing account had a reduced dealing offer on today so added a few cheeky ones. Couldn't resist.
@willywonka
On the face of it what you say makes sense, however with debt the size of Marstons it might not be the intention of the board to have a rights, but they could well be forced to have one by their bankers.
It is as simple as that.
All my money invested here is in the hope of burgeoning off trade sales with home delivery to get maximum return on their JV. It must be a good way forward with mobile adverts on the side of vans all over the country.
I agree with Triump1. it makes absolutely no sense that the director would buy shares if a rights issue was about to happen.
If anything that is a reassurance it will not happen.
@perkylad
If they were the owners of Costa still I would be inclined to agree but didn't they sell them 2 years ago to Coke ?
So premier Inns, Brewers fare, Beefeaters are not too bad to compare the rump Marstons pubs with rooms/motel style lodges now the brewery is no longer in their control.
Where they do not compare to Marstons is their net debt figure though, hence they can buy bargains rather than have to sell them.
That was how I read the point that was being made.
Posters on here that think there is no need for a rights issue clearly have not bothered to look at the accounts too closely, imho.
I agree on some points you make about the JV. However you need to ask yourself where marston's would be if this never happened. No JV is perfect, especially ones under such extreme circumstance. Marston's had very little scope to negotiate given their situation prior of falling sales and climbing debt and serious risk of significant dilution to SH or default on credit.
I'm sure you cannot disagree that the JV was absolutely the right thing to do. Sure they didnt get the best deal but what do you expect given the situation.
As for a rights issue, there is no basis for this happening anytime soon and cant even be dignified as a rumour. Most investors are cognisant in understanding that companies have rights issues at some point in time, stating the obvious doesnt get you brownie points. They are awarded when you can be a little less vague and give us a time basis for such a rights issue. This year? This decade?
I can offer an arguement against a rights issue this year. Why would the directors not buy up the rights issue instead of buying on the open market unless they are mentally impaired? If a rights issue was not done in the last month when SP was materially higher, why would they do one now? Talk of a rights issue this year makes absolutely no sense.
Are not Whitbread primarily the owners of Costa Coffee and Premier Inn? Might be in the same sector but not a reasonable comparator imho.
barchid could put more " flesh on the bones" but am endeavouring to encourage serious investors to do proper research, maybe a lost cause as demonstrated by the abysmal turnout for the JV Vote.
Am currently staying at a Marstons Motel,,,,will report the experience later