Marston push through 100 again (Cheers)

Wednesday, 15th May 2019 08:48 - by Rajan Dhall

This morning pub operator Marstons released their latest interim report for the period ended 30th March. Here are some of the key highlights:

-   Underlying revenue and earnings growth in all trading segments

-   Like-for-like operating margins in line with last year

-   Managed and franchised like-for-like sales +2.2%, up 3.2% in last 10 weeks of period

-   Destination and Premium like-for-like sales +1.2%, Taverns +3.9%

-   Managed and franchised like-for-like operating margins in line with last year

-   Average profit per pub +1%

-   Good progress on debt reduction plan

-  Confident of meeting our earnings expectations for the full year

The company employs around 14,500 people and seems to be getting a handle on its GBP 1,438 million debt pile (market cap 676.6mln). It managed to pay around GBP 14 million worth of its liabilities but there is still a massive job to do. The companies focus on food and a more family friendly and social environment seems to be paying dividends. Looking at the chart now, price is curently testing a long term trendline on the weekly chart and It looks to be breaking but we will need to wit for the weekly candle close for confirmation. The next target on the way up is 126p could be tricky. Let's hope the debt reduction plan is sustainable.