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Punch Taverns property values are set to dive, well all retail property values are set to halve in the next year, well that is my opinion! Unless all their pubs offer quality food at reasonable prices then, the whole company is going to fail, people just do not use pub like they did, Coronation Street is totally out of touch with what is happening in real life, regarding pubs, most people do not visit pubs that offer just beer and spirits and rubbish food, and if they offer good food, then probably visit just once a month. Pubs that just offer beer and spirits and nothing else will eventually fail in the UK. How much are the directors being paid, surely they should work for nothing, as they have brought this company down to its knees. And what are the big investors doing? NOTHING! Hopefully no Pension Company has purchased share in Punch!
From what I can see of Punch, seems to be run by idiots, they seem to be ripping of the leasees. We have the worst recession now for decades, surely any company would halve the costs of any lease that the people would have signed, and dropped their beer and spirit prices to accommodate. No wonder the share price is so low. All the big investors have not got a clue what is going on, the directors of Punch need to be replaced, very very quickly, otherwise the holders of Punch shares will see them going down the pan! If you email Punch to make a suggestion or to ask what is going on, you are very unlikely to get a reply. My advice and I am a shareholder is to sell very very quickly!
Punch Taverns: Panmure Gordon cuts target from 11p to 7p, hold rating kept
If were really lucky might be able to purchase pub at sensible price and own the freehold that gives us great choice of either buying beer at sensible prices making the buisness profitable or get it delisted and sell to a developer making nice profit or if were unlucky get taken over by another no good money grabbing ****y company that just want to screw the arse off us but at least a takeover rumour should raise the sp my way of thinking ive worked 80 hours a week for years listening to bull**** off of one man and his dog so whats a few more months while these pubcos just talk crap to us about rents and barrelage figures the hour of reckoning is coming
What happens to all the long suffering leasees and tenants if the do go?
not long left before the day of reckoning this company is finished
This company makes 60 million and has a debt of 3 billion and possibly a grossly overestimated value of their estate. Surely its only a matter of time before it goes pop or pre pack.
not long left now think ill sit tight buy the pub off administrators and build houses on car park and sail off into sunset seems brilliant plan
Strangely enough they are worse than stuck. Punch are at this moment trying to negotiate a write down of a large chunk of their debt held by bondholders. Their hand is not as strong as they think. The Bondholders could be financially better off by forcing Punch into administration. Many of Punch’s tenants get discretionary discounts on their beer sales amounting to many thousands of pounds per year. These discounts are not written into the leases the tenants have signed. An administrator I am sure, would have to put the interests of the shareholders and bondholders first and claw back these discounts, which in some cases are as high as £160 per barrel.
This company owes about 3 billion it makes 60 million. The banks cant bin it because the value of the properties has probably in real terms gone down to about !.5 billion. Basically its stuck.
still here still serving pints is chiffa still alive
There are 2 pubs in our village and both were owned by there clowns I had one and the other has now been sold off as a freehouse, round by me there are loads of pubs now indian outlets for food ...and some have been made into houses
The Tenants are forced to buy their beer through punch taverns at usually 33% more than they could buy from a wholesaler or direct from the brewer Its sounds illegal and unfair competition but it seems it is,nt., Its crazy More and more tennants are going bust why does anyone think punch taverns was floated off if it was that good. it wont be long till bye bye time , sadly for investors
I know one of their tenants who runs an excellent pub but cannot make a decent living due to massively high rent and the fact he has to buy all his draught beers from Punch (they brew nothing) at prices that do not allow anything like a decent margin. The freehold value of the pub has halved since Punch purchased it some years ago. The current business model will never work.
Interesting you say that, a friend of mine pulled out of his tenancy about 18 months ago. The pub is now being converted to 3 houses, Punch sold the freehold with PP. Wonder how many other Punch outlets will follow suit, tough game by all accounts- I know what side of the bar I prefer.......
Had some dealings with this company.Looked at a pub , they wanted a silly rent and a silly Tennancy fee consequently i year on it still isn,t let.I was not impressed and wondered at their attitude but they are just basically commercial landlords and not pub people. Just my experience. i would tread carefully with this one.Again everybody has to make their own minds up.
60 million earnings 3billion debt does not really add up..Property values declining ,not good.Guess which direction this is going looks like there wont be any prize for this one
Pub group Punch Taverns (PUB) will no doubt want to forget 2011, although going into the second quarter of 2012 it is yet to be established whether any sort of recovery is underway. The main issue currently is to prove that last August’s demerger to create the Spirit Pub Company (SPRT), (where the share price chart does at least sport a reasonably straight uptrend) was the right decision. As much as anything else, investors will be seeking a sense of improvement at Punch, a point underlined in December when in the 16 weeks to December 10th, pubs in its core estate saw like-for-like net income fall 1.5% suggesting that the rate is at least slowing..
Roger Whiteside, Chief Executive Officer of Punch Taverns plc, commented: "Punch has a clear operational plan to return the core estate to growth in the medium-term and extract maximum value from our non-core assets. Profitability in the first 28 weeks of the financial year has been broadly in line with management expectations. While we remain cautious on the near-term consumer environment, we have strong plans in place and expect to benefit from the Queen's Diamond Jubilee, the UEFA European football championship and the Olympic Games in the second half of the year. In the current difficult climate we have worked hard to contain costs and as a result we remain on track to meet our full year profit expectations."
ON TARGET TO MEET OUR FULL YEAR PROFIT EXPECTATIONS Trading summary · Growth in average net income per pub across the full estate of 0.8% · Regionally mixed, stronger performance in the South of England · Core estate: Like-for-like net income -2.9% (-2.1% 28 weeks to 3 March 2012) · Disposal proceeds of £62 million, slightly ahead of book value · Non-core estate: Like-for-like net income -10.2% (-9.7% 28 weeks to 3 March 2012) Average net income per pub across the full estate of 4,790 pubs increased by 0.8% over the half year, benefiting from the ongoing disposal of non-core assets.
http://www.investegate.co.uk/Article.aspx?id=201203090700140164Z
http://www.punchtaverns.com/NR/rdonlyres/9355248F-58F7-49B6-9D47-E29359350A60/0/PunchTavernsAnnualReport2011.pdf Highlights -- basic loss per share after non underlying items of 134.8 p -------------Is this good or bad news???
Do you think they will all for sale soon?
theres one of these pubs in my village i think i will buy it
Additional Listing Share this article Print Alert TIDMPUB RNS Number : 8909S Punch Taverns PLC 28 November 2011 Punch Taverns plc (the "Company") 28 November 2011 ADDITIONAL LISTING - AMENDED Application has been made to the UK Listing Authority and the London Stock Exchange for a block listing of 4,500,000 Ordinary shares of 0.04786 pence each (the "Shares") to trade on the London Stock Exchange and to be admitted to the Official List upon issuance. The shares will rank pari passu with the existing issued shares of the Company. The shares will be issued as follows: a) 4,000,000 Shares under the Punch Taverns Long Term Incentive Plan (LTIP); and b) 500,000 Shares under the Punch Taverns Share Incentive Plan (SIP) Name of contact and telephone number for queries: Helen Tyrrell Deputy Company Secretary Punch Taverns plc Tel: 01283 501 858 This information is provided by RNS The company news service from the London Stock Exchange END