Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video 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.
We should do a check in to our local Maston's and report back here once in a while on the status there. I'll visit my local Marstons at some point in the next few days and report back.
Many can quote experiences, it is the overall gloom that is settling over the whole sector. One very popular pub/eaterie in a well established location where there was a Ragatta yesterday was virtually empty, another not far away and in a similar location, had outside entertainment with a band. That pub was busy, today may be different.
Ignore reports form Barclaycard , the Brewers Association and other Hospitality organisations, if you wish. It is your money to invest, just consider the risks.
One swallow does not make a summer.
A lot of negativity being posted about this share & at what appears to be a bargain price so I thought I would check out my local Marstons.
Packed Friday & also Saturday.
Doing lots of food & had a band on Saturday night so the drinks were selling well.
Will have a look passing Sunday when I go past however they seem to be doing well so I think it's a buy for me Tuesday when the market opens.
longtime....have you forgot lockdown for virtually 2 years? I know only too well.
It's not all bad news.
Marstons have fixed their gas prices until March 2025 and have already hedged their electricity costs this year so this is reassuring to know. In addition to this I think we will see people spending longer inside pubs especially the older generation who either have the choice of having a couple of pints in a warm pub or going home and putting the heating on all day.
More and more people are deciding to holiday in the UK due to the high costs of going on abroad which is only going to get expensive so this is good news for the UK hospitality sector.
I would expect to see some sort of financial package from the chancellor announced next month to keep people in employment as redundancies and slow business growth is not good for inflation.
Yes reluctantly yesterday sold balance of my holdings
Brought at 40 p just as covid started watched them rise took some profit but held the rest . I like Marstons always liked the Banks,s beer when I was young but to watch your investment disappear day in day out is painful especially as we know there was buyer at much better prices
Still as I say reluctantly sold cannot see a way forward not with the debt and the state of the country at the moment so moved on to other things
For the l t h I wish you success and maybe I’m wrong to sell but only time will tell
GLA
''those who have high disposable incomes ''
and retired,would always have had that choice to escape winter.
...also suspect those who have high disposable incomes will opt for 2 or more months in the sun. Ominously many of the Long haul filights in BUSINESS Class for October owards are sold out.
''Plus people will be at home watching TV as Pub to expensive.''
Some would rather be in a pub on cold winter days - spending money on beer rather than money on heating, sat at home .
Well this evening after much deliberation I have decided I need to take hit on Marston. Bought in at 0.92, 21,000 shares going to move to ITV safer in time of energy prices and staff shortages. Plus people will be at home watching TV as Pub to expensive. Very sad, I like Marston but risk to high in these extraordinary times.
I got out of here a while back, can barely believe the price now and where it looks tp be heading. I don't see a safe buy in or average down price anywhere on the horizon. That said, I'm stuck in AML, similarly miserable.
I only hold 500 of these now had 3000 at one point top price 1.37 and various buys and sells between that and 1.02 nearly always at a loss. Given the current economic climate i wouldn`t mind betting that quite a few people will do what i am going to do revive my old hobby of "Homebrew".
100% correct there isn't a good ending to any of this... especially with the whole Co2 issue in the mix as well .. bearish for fevertree as well
i note apart from the huge increase if running cost with the price of energy you also need to add into this 20% of the group revenue comes from beer production, again energy intensive and with the news on Co2 production being restricted i fear this maybe a very bad time to be long.
That was brave...I'm thinking twice about 30p!!
at about 37.5p
Trent, it is a hard lesson. I hung on here until I realised there are better opportunities elsewhere. I sold the majority at a loss and just retained a handful basicallt in the hope the tide would turn at some point. However we have suffered blow after blow, much bad management decisions. Jed's prediction may not be as far away as he beleives.
The sector generally is in for a tsunami of issues, where even the strong are going to struggle.
Not sure the Gov will be able to do enough to ease the pain many are beginning to suffer. I certainly do'nt want my Grand-children saddled with numbers being quoted.
Barchid's experince in Chelsea is worrying. I was in a Pub close to Cambridge a month ago, it closed at 9.00pm. I asked the Landlord why. 2 reasons, customers tend to leave before 9,00 and it is not profitable to pay staff to just stand and stare. Christ the time was when drinkers were difficult to leave at 11.00pm. In mid summer and the weather we have enjoyed it is incredible to see and hear what is happening to the hospitality trade
Yes there was a point about 6 months ago where 75p-80p was a good buy in price, I bought and sold a few times always waiting for that lower buy in but now it looks better to just sit on the side-lines until march next year and see what happens. Regardless of this silly buy in price, but it seems it's only a silly buy in price in hindsight 3-6 months down the line.
I'm seriously considering cutting my losses and getting the Hell out of here.
I've quietly sat back and took hit after hit with this one, and been perhaps a lot more patient than is probably good for me. But there comes a point where enough is enough.
Government have to step in but will wait till the price cap is announced and new PM (and chancellor) are announced - otherwise business get increased costs plus a customer base that will have little disposable income.
Best scheme so far is the fund (touted as being for £100B but probably less) used to smooth out bills over the coming years
Doesn't look good for pubs at all,many already talking about shutting up shop on making no profits in the winter, god knows what's going to happen when they get another big shock on Friday's energy price rise.
Could be looking at 25p ish by end of Sept.
FD
I, and I am sure that many others on this board are grateful for your sober analysis, especially the assets against debt comparisons.
As a matter of fact I had lunch today in what was a very popular pub pre covid, just 3 minutes walk from the Kings Road, Chelsea.
Today out of about 24 tables only 3 were being used, menu prices are sharply up, enough to even put off the well heeled ex Sloan Rangers that normally inhabit the premises.
I realise Marstons are mainly in areas unlike what I described but on a day where it was 28C in London rationally you would think many more punters would be in a cool, air con bar.
For the last financial year (2021) the company disclosed assets valued at more or less £1.5 billion, a reduction of 100 million from the previous year. The methods of valuation are open to interogation. Some properties are valued on the basis of a mulitiplier of revenue. This can be a useful guide but only that as true value to a willing buyer could differ significantly. We have already seen the results of Ralph Findlay's sales where collections of pubs were sold below projected values.
Using the published values of £1.5billion and debt of £1.25B we are left with a net value of £250m. Given the shares in issue (634m) it gives around the current SP, so not much latitude for a would be buyer.
dannatt the bidder Platinum would have factored in payment of debt and then offering 105p/share to PI's
My earlier example just illustrates the numbers a bidder has to consider.. An estate valuation will ultimately determine what a predator is prepared to offer. Since the Platinum offer, almost 2 years ago, Marstons have sold redundant Properties, debt had increased slightly. The important factor being how have estate values changed.
Can anyone see a Buyer taking on a Retail business given the hurricane coming? A predator will be looking at stripping out, quickly, all saleable assets at a profit.
Mention of interest from Carlsberg is pure speculation and hope, Carlsberg are not known to want Pubs as they are predominantly Brewers.
IMO the Platinum offer was a good one which could have been increased, however we treated like mushrooms and given no opportunity to consider offers until after the event. RF's decision.
Almost two Billion pounds worth of assets to cover the debt