The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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But apart from that, he was alright.
Lets face it, the Platinum offer was only 105 or thereabouts and looks at the sp now !
I have not forgiven him for selling the breweries for less than half a lager factory ...
In meantime, sounds like a good idea to sell the HQ and run ops from a pub ... which is where I am going right now.
Happy New Year.
Some may remember how he increased debt, sold assets below mkt value, did a behind the scenes deal with Brains, kept the offer from Platinum secret and then rapidly departed. This was all before the pandemic.
For services to the Hospitality sector..... what a joke the honours system has become.
Looks like Asset sales are underway....the Headquarters is going
He had a good f*ing good idea once. 'Forties, fifties, females, families, fine beers, food' (or something like that) ... Not his fault the pandemic came along ...
Ralph Findlay recognised in New Year’s Honours,,,,,doesnt it make you feel like *******
I think it will be 2024 or 2025 before this stock recovers
As many have stated I think there could be some rough times still to come throughout 2023, and the risk with this share is pretty high but the reward could be great!
I’d be interested to see the next trading update as being out for a few over the holiday season every where I went was full to the brim.
Will this continue into January, February when the cost of living really starts to hit ? Who knows? I’m happy to pick a few more up at this level whilst the team are working on debt reduction as if they get through the next year or so there could be significant upside
All the best all and happy new year to you all
Assets may cover debt, but tax bills and creditors will need to do paid. If this goes pop, nothing left for share holders.
This is a very high risk share to hold, going into a recession...
I think your money is safe here. The assets roughly equate to the debt. The company has history and a good name.
Why did I sell today?
I’ve made a profit from Mars of 150% during the pandemic. Thanks. Today is different. Local pubs are closing. We are heading for tough times. When it costs £9.99 for 20 Budweiser in Lidl not many people will pay £5 a pint in a pub.
Good luck to holders, I genuinely wish you well. However, I’m confident that selling today was a good idea.
Now that sounds a sensible & enjoyable way of spending money, can't argue with that...
If you buy some as part of a balanced portfolio mate, who cares... I will be buying new cars and motorcycles with my profits in 2024!!
Peaky
I hear you but what about all the pub/restaurants they have, not to mention the rooms in their pubs , will they be seeing the turnover too ?
I fear not and the debt mountain was made by building the above structure by the oaf who turned down a £ a share, namely RF
I still think this will bounce back well, I'm taking my first position at 35p.
Most of their pub estate is working class areas, they will always find money for the pub!
FD & Peaky
I agree, 3 months is far from ideal & the post December outlook is not great
FD as you say in your post the news elsewhere re divis is good, witness a particular rns this morning.
As you say, 3 months not actually good news, think they will need some cash... Pubs will be dead after 25th of December.
barchid just seen. The loan note holders are being very caustious only allowing 3 months extension when the previous waivers were granted for 12 months. Am trying to find details of the agreement, guess it will be delayed a few days. The way the economy is tanking, strikes hindering travel etc, it is highly likely Lenders are becoming very nervious. It will not be surprising if the BOD conducts a fire sale of properties.
Am yet to study the accounts, warts and all.
At least we are getting dividends elsewhere, a good time to top up. You may have noticed the "Boardmaster" dismisses factual company statements. I could have responded but have held back. I'll ley others disrupt that board, for the moment!!
FD
Covenant updates rns out now, any thoughts ?
Also the full, unexpurgated accounts too...
Will be outcome of negotiations with Loan Note Holders regarding further Waivers as existing conditions have been Breached. Unlikely the Company will recieve a nice Christmas Present especially with the latest Bank Rate hike.
Pharma D - well it could set them up for a Management "buy out" which happens quite often when a share price is below its paper worth, or when the Management might have caught wind of an offer coming in for the Company.
I can see the "in towns" hospitality and retail sector is starting to suffer but "Marston stand by their local community pubs" and the Joint venture brewery home sales and therefore their own business might pick up with more being at home? Who knows - but the next statement will be very interesting I am sure whatever way one looks at it.
Today's grant of awards under the Long Term Incentive Plan in the form of nil-cost options, should give the Director's an incentive to get the SP moving in the right direction. But I guess a lot is out of their control given the current negative factors affecting the economy. Certainly one to stick with until the good times return - ever the optimist!
Wolf - good point re. the name. Not so sure re. the ratings as my own bank have upgrades re. the share regarding its recent report. Suppose based on Christmas bookings sale higher than expected. More likelihood for people to now stay in the Uk and spend their money (due to strikes at a/ports, borders, etc. and most English Football supporters will have spent some more money on drowning their sorrows, whilst others being the true supporters will still attend until the Tournament has finished. Its strange how it happens some times. I never forget Wetherspoon saying his Sales went up when the bankers had their redundancy season. Those staying on went down one pub and those leaving went down to another. He said sometimes when the news is bad more alcohol is consumed not less? Interesting human behaviour is never as it first seems?
Gents, it could be they were using Maroc, the french for Morroco.
Yes, it was a good game, enjoyed with a nice bottle of 61Deep. Can't understand why we don't see it more in Marstons pubs. Not seen it on tap for a while now..
Yet another downgrade I see, guess it's due to us being dumped out of the world cup and poor economy reports today. Yet, I see the pubs regularly doing good business..
Same here Dinoken. I have a feeling the MAR tag may give Morocco additional interest and certainly they look like they could make the final they play very well as a team. They have only conceded on goal in the tournament and that was an own goal. Not sure why Gareth continued with Harry taking the penalties as it was after all against his home club goal keeper, it may have been better to have put someone else on. Still its done now, but the World Cup is still interesting!
Funny someone else noticed MAR for Morocco. I watched that match with Marstons Hobgob Gold and thought at one stage that the beer was stronger than usual because I was seeing the 180million pound man Ronaldo on bench, Morocco winning and Morocco tagged as MAR ! Even checked dictionary to see whether country was spelled Marocco rather than Morocco...
I especially enjoyed the Moroccan game and they are playing really well and could become the first African Team to be in a World Cup final. It was interesting that ITV had their 3 letter signifier as MAR and so perhaps we should now adopt them as the nation to progress as our MARS sponsor. GLA.
Not long to go for the England game. We know from this weeks Management release Beer sales increase by 50% and as the pubs are local community based there is no problem like the other market competitors have who are faced with Rail strikes restricting trade. No wonder the likes of Mitchell and Butlers earnings are less per share than Marston's now since the turnaround mentioned in the report.
Regret the so called long term moaners on here got it wrong again yesterday where they say their preference was to go with them and what happened to them they fell over 10%. I can now see why they are stuck in rut on this board. We can look forward to further increases in trade from increased Christmas bookings and increased sales in beer from the World Cup both in the Community based establishments and with home sales from the JV. GLA.