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BUZZ-Greene King: pub co a good play on UK consumer theme-JPM

Tue, 12th May 2015 12:07

** Greene King (GK) outperforms sharply lower FTSE250 as JPMorgan upgrades to "overweight" vs "neutral"

** Says UK pub sector, for all its challenges, offers goodexposure to UK consumer environment

** JPM flags major pub cos have generally stable &predictable cash flows with attractive yields & are well placedto improve returns through improved mix of sales & consolidation

** Decisive election result means robust UK economy morelikely now as cos/individuals holding back on investment (weakQ1 UK GDP seen as symptom) can now press ahead, say PMs;election outcome seen as more business-friendly

** Also, this yr's Rugby World Cup a likely magnet forpub-goers

** Shares in rival Spirit Pub, which GK plans tobuy, rise in tandem; CMA's decision on merger recently released;Barclays says from GK's statement in response, it reckons GKconsiders undertakings required as reasonable

** GK among stocks held by Premier AM's head of UK equitiesChris White (RM: tricia.wright1.thomsonreuters.com@reuters.net)

More News

26 Apr 2021 15:20

Pubs and restaurants trade solidly post-lockdown - survey

(Sharecast News) - Britain's pubs and restaurants made a solid start to post-lockdown trading in England after they were allowed to serve customers outdoors, a survey indicated.

3 Jan 2021 21:22

Sunday newspaper round-up: Restrictions, Brexit deal, Tax

(Sharecast News) - Sir Keir Starmer has urged Boris Johnson to bring in new national Covid restrictions within the next 24 hours. The Labour leader said the virus was "clearly out of control", as he insisted that it was "no good the Prime Minister hinting that further restrictions are coming into place in a week, or two or three. That delay has been the source of so many problems," he said. "So, I say bring in those restrictions now, national restrictions, within the next 24 hours." - Sunday Telegraph

7 Oct 2020 14:08

Greene King to axe 800 jobs, close 79 pubs & restaurants

(Sharecast News) - Pub operator Greene King said it was cutting up to 800 jobs and closing 79 pubs and restaurants, blaming the government's new Covid-19 curfew and impending end of the job furlough scheme.

6 Apr 2020 13:03

Pubs regulator to probe companies on Covid-19 help for tenants

(Sharecast News) - The pub industry regulator said it had written to all companies under its jurisdiction asking why they have not waived rent for tenants and demanded to know what support they are providing during the coronavirus crisis.

17 Oct 2019 13:09

EU clears Greene King acquisition

(Sharecast News) - Greene King said on Thursday that the European Commission has cleared its £2.7bn takeover by Hong Kong's CK Asset Holdings.

17 Oct 2019 12:29

Greene King Acquisition By CK Asset Gains European Commission Approval

9 Oct 2019 12:06

CK Asset Holdings shareholders back Greene King takeover

(Sharecast News) - Shareholders of Hong Kong's CK Asset Holdings have approved its £2.7bn takeover of London-listed pub chain Greene King.

9 Oct 2019 09:30

BROKER RATINGS SUMMARY: Morgan Stanley Cuts HSBC; Investec Raises RBS

2 Oct 2019 16:07

UK Shareholder Meetings Calendar - Next 7 Days

27 Sep 2019 18:18

Capital Group Cuts Whilst JPMorgan Builds Greene King Stake

18 Sep 2019 12:06

Li Family Declares Support For Greene King's GBP4.6 Billion Takeover

(Alliance News) - Pub firm Greene King PLC on Wednesday said the Li family, a major shareholder, is to vote in favour of the firm's acquisition.The Li family trusts own just over 31% of

13 Sep 2019 07:53

UPDATE 3-Pink gin with strawberries: Wetherspoon patrons defy Brexit gloom

* Sales of coffee, real ale and gin boost results* J D Wetherspoon keeps drink prices low* Costs remain high (Adds further CEO quotes)By Noor Zainab Hussain and Paul SandleLONDON, Sept 13 (Reuters) - J D Wetherspoon's eurosceptic boss said customer...

13 Sep 2019 07:53

UPDATE 2-Pink gin with strawberries: Wetherspoon patrons defy Brexit gloom

* Sale of coffee, real ale and gin boost results* J D Wetherspoon keeps drink prices low* Costs remain high (Adds chairman, analyst comments)By Noor Zainab HussainSept 13 (Reuters) - J D Wetherspoon's pretax profit rose in the full year as its "che...

12 Sep 2019 08:49

RPT-Foreign trophy hunters scent bargains in Britain as pound weakens

(Repeats with no changes to text)* HKEX's offer for LSE latest in rush of inbound UK M&A* Foreign firms taking advantage of weakened pound* Analysts expect more M&A before Brexit deadline* 532 inbound deals in 2018, 2-1/2 times more than 2017By Josep...

11 Sep 2019 17:10

Foreign trophy hunters scent bargains in Britain as pound weakens

* HKEX's offer for LSE latest in rush of inbound UK M&A* Foreign firms taking advantage of weakened pound* Analysts expect more M&A before Brexit deadline* 532 inbound deals in 2018, 2-1/2 times more than 2017By Josephine Mason, Thyagaraju Adinarayan...

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