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Macq their overall debt is more than £3billion, which they have been attempting to re-finance since February. Another example how Debt can cripple a company that borrowed for rapid expansion when rates were historically low. It will be interesting to see if Stonegate does survive in it's present form. The words coming out seem to be preparing shareholders for the worst case scenario.
How the parlous state of Stonegate affects suppliers, remains to be seen.
I do not feel Debenhams and did not feel they were ahead of the game. Marston have been installing 100's of Vehicle electrical charging points in their car parks, and have been doing this for a while. I spoke to one of the contractors who have been installing them the other day, and he said he has been installing 100's for Marston's and he also said what a great Company this was too, and he felt each establishment was well run. They are hardly going to fold with what he has seen- his words not mine! We will have an update very soon and no doubt will be more positive based on the fact the new CEO has been buying a large number of shares. Sometimes one has to be patient, warmer weather here soon too.
You misunderstood my comment - I didnt mean well known companies, I meant where all the good information is already out there where everything is known and analysed. I have always done best by looking deeper rather than following the herd.
Looks like the stonegate company is in trouble with more debt(2billion) than marstons,stonegate is one of the big customers martons supply their beer to,its got to affect them eventually,
got to admit that i wish this would have gained sooner then it has, and can see why some people lose faith, but the difference between nav and market value is to big to ignore, the debt will reduce and inflation has already helped out big time and will flow into results more this year then last, changes to opening hours will help with staff wage inflation; biggest issue i see with marstons is the lack of regular announcements to get the wider market interested, and see what is really happening sooner; so for me until there is an other announcement we will be stuck in limbo and re rate is a bit away, but will come. my money is on jan 2025 will be around 50p (no science or fancy graphs just my opinion) and the gains for newest investors like me we be 2x maybe even 3x don’t really see how the management can **** this up in the long run. as takeover could well be in the cards, biggest fear is new share issue but don’t see this happening any time soon and even if they did; the last one did not end up bad before the nightmare of covid hit. just see more upside then down side, come on bod a nice bit of insider trading or an announcement or 2 might help the shareholders out. but yes different set of circumstances to debenhams and operating in a much slower rate of change sector where given the size and financial firepower they will survive, also ni reduction, large % state pension increase, summer coming gas bills failing will all result in more money in the pocket to spend in the tills. am i delusional, not sure but time will tell and for 200% increase i will happily wait 8 years. but once this hits 70p there is a new camper van coming my way
Since when is going to pub becoming of fashion by youngsters.. the issue is more so the cost of drinking? MARS is a very high risk stock, but there is still some upside with the amount of assets they own. I would like to think they can get back to nearer the £1, but I do feel there will need to be a lot of help for this sector by the government.
Sam..... your inclination has a lot of substance. The problem is an Asset Breaker will have studied the JV with Carlsberg and the onerous conditions applied to Pub retentions.
Preliminary results to Sept 23 quoted a NAV of £1.01
Cue...It's all rubbish, don't believe it, the sky is falling, the debt mountain, etc etc.
For my part. I don't know if it's £1.01 or not, but I am inclined to feel it is considerably more than 27p.
So I am a buyer. Offloaded a bit more SHEL today and bought more MARS.
What’s your source for such a very high figure - a pre-Covid report?
What is there to worry about here, unless you are shorting it.
Adnams in Suffolk are in trouble. Perhaps Marstons could save them like they did Brains.Lucky Greene King shareholders that sold out at the right time.
I find it odd for someone to say that you will never get rich buying shares in “well known” companies , when using there own example of Tesla, if you had bought in 2020 and even with the recent large dip in the SP, you would still be around 400% up!…let’s compare that to MARS, where you would now be around 50% down for the same period, with a mountain of debt not being repaid and pubs and drinking going out of fashion big time, especially by the younger generation of today. AGM’s I find do offer very good Lip service and I have heard CEO’s lie through their teeth on other shares saying “all is going well, although we are suffering some “ macroeconomic headwinds” (is a favourite line to “deflect the real truth) ,I’m sure you have all heard this spiel before) only for months or a year later you start to learn the real truth and the debt is not being repaid and the company really starts to suffer. I truly believed MARS could turn things around, but after recent updates by other large pub chains, I have changed my sentiment and for the life of me cannot see how this company is going to “come good” without a MAJOR Change in fortunes….and if JDW and others can’t currently make it work with little debt and run very efficiently, then. Sadly MARS have little chance of turning things around dramatically and paying off some of the mountain of debt they carry, whilst also needing to report large increases in profits to allow this to happen…I somehow now don't think so Pedro!
Always interesting reading the emotions of people invested - I have always worked on the basis that I am unlikely to get rich investing in companies that everyone knows about and and the vibes are good - For example when my colleagues were telling me I should be buying Tesla in 2020 and 2021 I thought they looked overvalued so left them alone. They did keep going up for a while but they still didn't look cheap to me- around that time I saw McBride shares dropping and dropping and bought a few - kept my eyes on them, went to an AGM along with about 5 other shareholders. In the last 2 years they have gone from 20 odd pence to 115p today . I also went to the Marston AGM in January and unless the directors and the new CEO were lying through their teeth then this share has the potential to rise substantially - I've topped up a few more this morning and every penny they drop I'll top up a few more. The older I've got the more I realise I do my own research, listen to as many people as possible and make my own decisions and always have patience .
Good luck all
SHAPERITE....still wallowing in misery instead of investing in something you believe in?
Like I said in my previous posts…Will look to buy back in at around prob 20-22p if the results from the next T.U are “very good” as this has plenty of time to fall much further before the next update, not due till around Mid May….otherwise I will count my lucky stars I sold at a “bit of a loss” 2 weeks ago and not a potential huge loss when the results come out in May, which I will be amazed (judging by JDW and RBG recent updates ) if they are “good” considering MARS’s mountain of debt! GLA …if you are much braver than I am to wait and see!
News breaking about fresh beer not being cask beer, CAMRA getting involved. should recover later.
Just bought more.
Seems most shares on the FTSE are down today being the last day trading of the tax year and any losses here can be offset against other gains, if required. Expect us to come back very soon, and there is going to be an announcement early May which could provide more than just a trading update which will be interesting!
I might buy some more later today too, as the share price being down does not match the sales figures which are up year on year since 2020. Any debt that some of worried about can be re-negotiated or hedged off when the rates start coming down which won't be long. GLA.
Echoing FD, running a pub is not at all the same as running a brewery.
There is little reason for Carlsberg to suddenly change their business model.
Shaperite, just look at how they handled Tetley's! They acquire Brands to achieve a biggers market share to rival Heineken, Coors etc Carlsberg own very few Pubs. Just think about it??
Highly leveraged , Income not sufficient to satisfy repayments, dwindling custom as prices are pushed forward the srnario is consistent with history and nothing good has ever survived the comparison ! 1 saving grace, and that is the involvement of Carlsburg and their attitude is largely unknown, a possible white knight ? or an asset stripper ?
Wait til tomorrow/Monday you may get more at sub 25p at this rate of decline... GLA
Some at about 26.8p
..... and yet the share price is heading swiftly to all time lows of sub 26p with ALL PUBS OPEN and many doing decent business.
We all know the SP was higher in COVID with no trading. So they are doing something wrong, as clearly the markets have no confidence !!
Disgraceful performance by Marstons management and BODs, more need to go/be sacked.
Issued before the Christmas and Year sales rises. Statement said in precis :-
Total sales for the 52 weeks were up 11.30%. Up another 10.10% on 2022. Food and Drink sales have been strong!
They successfully trialled a Franchise model in 19 of food led managed pubs to compliment the 714 wet-led pubs with sales growth significantly exceeding that of the broader food business. They were on track to target 50 food led franchised pubs in 2024.
They have fixed energy costs with a significant proportion of their food and drink costs for the year. Net borrowings (excluding IFRS 16 commitments) were £1.185m, £31 below last yr and £19m lower than H1. £55M from disposals had been generated together with another £50 expected in 2024. They said they continue to make good progress to reduce group borrowings to below £1b, and as I have said they intend to work on exceeding this on Sales. GLA.
This recently voted Pub Chain of the year has increased its retained Equity from £200m in 2020yr to over £600m in 2023.
For the same period in question Turnover has increased from £515m in 2020yr to over £872m in 2023.
The Company are now using profits to bring down debt. On 23rd Jan this year 2024 Justin Platt said :-
Justin Platt, CEO of Marston’s, commented:
“I am pleased to report a strong trading performance with like-for-likes up 8.4% over the festive period.
It has been an encouraging start to the year. This, together with an improving outlook in which
inflationary headwinds are broadly abating, and the actions we are taking to operate more efficiently
and rebuild margins, position Marston’s well for the year ahead.”