Member Info for Cacher

From ADVFN: Stiefel downgrading MARS and MAB today - citing weather. "First half profits will have been impacted by severe weather conditions and we reduce our full year pre-tax forecast by £2.5m to £108m' (MARS)

Well I've added a few more. Brought the average down to 108 now. Happy to sit on these for the long run.

Agreed Dinoken. I can't see any attraction for the likes of MARS, GNK etc to get involved. The supermarkets dominate that particular channel now.

https://tinyurl.com/ybaf3bdo

Brian Gilbertson’s Jupiter Mines is planning an ambitious $200 million refloat on the ASX in a bid to take advantage of improving commodity prices and renewed investor interest in the mining sector. The Perth-based company is using Hartleys to test the market for the raising, which is expected to be priced at 40¢ with a listing date planned for April 18 under the code JMS. No new shares will be issued in the float, with existing shareholders selling a portion of their shares into the initial public offering. It is understood about 25 per cent of the company (500 million shares) will be issued under the float with nearly two billion shares on issue after listing for an expected market capitalisation of about $780 million. Post-float, the company is expected to emerge with a cash balance of $71 million and no debt. The company is expected to lodge a prospectus with the Australian Securities and Investments Commission later this month. Jupiter’s main asset is a 49.9 per cent stake in the producing Tshipi manganese mine in South Africa. It also holds the Central Yilgarn iron ore project 110km north-west of Menzies, which includes the Mt Mason hematite project and the Mt Ida magnetite project. Jupiter Mines delisted from the ASX in 2013 after major shareholder Pallinghurst, controlled by former BHP Billiton boss Brian Gilbertson, decided its share price did not reflect the true value of the company and that share liquidity was too low.

Thanks Bootsox. That was a great interview. RF comes across really well and very much switched on to market trends etc. Well worth a listen for anyone that hasn't.

http://www.share-talk.com/share-news/bluebird-merchant-aimbmv-colin-patterson-ed-ceo-video-interview/

Agreed. Similarly the world cup this year should be a sales booster too.

A fine pedigree Pub chain and brewer Marston’s (LSE: MARS) took a bold step when it acquired rival Charles Wells in 2017. But the deal seems to have worked out well so far. Charles Wells brewing portfolio has added names such as Courage and Bombardier to Marston’s brands like Pedigree and Hobgoblin. Acquiring the smaller firm’s pub estate has also increased Marston’s presence in London and the South East, two important markets. Like other pub groups, this firm has already endured a difficult few years of reshaping and updating its pub estate. This process is now starting to deliver results, with growth in sales and underlying earnings during the 16 weeks to 20 January. Like-for-like sales rose by 2.6% in Taverns and by 1.1% at Destination and Premium locations, excluding the impact of two snowy weeks during the period. What could go wrong? One headwind at the moment is the restaurant sector, which is struggling with overcapacity and discounting heavily. If consumer spending weakens, pubs could be forced to cut their own prices in order to attract customers. As things stand, Marston’s earnings are expected to remain flat at 14.2p per share this year. A dividend of 7.7p per share is expected by brokers, giving a forecast P/E of 7.2 and a prospective yield of 7.5%. These shares are on my watch list.

Share pickers on the lookout for clobbering yields must also give Marston’s (LSE: MARS) serious consideration, in my opinion. The City is in agreement that the rising pressure on drinkers’ wallets, on top of a rising cost base, will continue to drag on earnings growth lower at the pub operator. However, the impact of Marston’s’ estate restructuring drive, allied with the soaring popularity of its ales, will keep earnings to continue their northwards march. A fractional rise is forecast for the year to September and a 5% increase is predicted for fiscal 2019. Hardly spectacular, I’d agree. But what these estimates do is support is predictions of extra dividend expansion. So last year’s 7.5p per share reward is expected to rise to 7.7p in the present period, and again to 7.9p next year. Marston’s subsequently sports gigantic yields of 7.3% and 7.5% for this year and next. The FTSE 250 business isn’t without its share of risk, clearly. But I believe a forward P/E ratio of 7.4 times is far too cheap given its proven resilience in challenging trading conditions. Indeed, like-for-like sales rose 1.1% during the 16 weeks to January 20, excluding weather-related disruption.

Good to see some funds seeing value here. Been adding here and there when funds allow. Strong, growing business, great divi and imo materially undervalued.

Yup the discount card is reviewed every 2 years. This October is the next review. Last couple of reviews I've had to contact IR and ask for an updated card. They just confirm whether you're still holding 500+ shares and go from there.

I sent them a copy of a contract note, which was fine. Had my wallet pinched recently and mentioned that the card was in it to Marstons IR. Had a new one within a couple of days. Wasn't expecting them to be so obliging since I didn't actually ask for a replacement (though secretly hoped they'd do so...!). Nice of them, I thought..

Balance Sheet, Cash Flow & Debt: � Marston�s does not update on balance sheet movements at its quarterly statements but the group has opened 3 destination pubs and two lodges in the year to date � In the year as a whole, Marston�s will open 15 pubs and 6 lodges. The lodges opened to date include a 104-bedroom unit in Ebbsfleet Conclusion & Outlook: � Despite some of the problems that have been highlighted recently by mid-cap retail stocks in general, Marston�s is trading ahead of the market � The group remains in sales & earnings growth � Marston�s CEO Ralph Findlay comments �we are pleased with our progress, which included record total retail sales in our pubs of �4 million on Christmas Day � 5.4% higher than last year.� � Mr Findlay says �we continue to achieve growth against tough market conditions and are benefiting from investment in both pubs and brewing. We look forward to continuing to provide our customers with a great pub experience and excellent service, as well as delivering value for shareholders, over the year ahead.� Langton Comment: � Marston�s has acknowledged the impact of the snow on its Destination & Premium business. It has nonetheless outperformed the market and wet-led sales have been more robust. Beer sales are strong and synergy benefits continue to be mined from the Charles Wells acquisition. � The consumer is under pressure but Marston�s shares trade at little under 8x earnings and they yield around 6.7%. � The group has an attractive, well-managed and well-maintained estate of largely freehold properties. Food and lodging are growth businesses and Marston�s shares are not trading on a demanding rating. The company, overall, is selling product that the consumer would like to buy at a price they are prepared to pay.

From ADVFN: Marston�s has this morning updated on trading for the first 16wks of its current year and our comments are set out below: Headline Numbers: � Sales, once the two weeks� snow that impacted Destination & Premium is taken into account, remain on track � Overall, Marston�s reports �we continued to make progress in the period with growth in both sales and underlying earnings, helped by the acquisition of the Charles Wells Brewing Business in May 2017 and the contribution from the 19 new-build pubs in financial year 2017.� � The group says �snow and icy weather towards the end of the period, both in early December and between Christmas and New Year, caused some unavoidable disruption to the business.� Trading � Destination & Premium: � Marston�s Premium & Destination LfL sales are up 1.1% � excluding the impact of two weeks� snow � Total sales are +4.9% �reflecting the contribution from the estate expansion in 2017.� � Headline LfL numbers are down by 0.9%. The snow cost some 2ppts. Marston�s numbers are ahead of the market � This amounts to around �2m in sales or �1m in profits � Margin is in line with expectations. Marston�s had earlier said that margins will be slightly lower this year on the back of increased costs � Heavy discounting continues in the market as a whole and, though Marston�s is not taking part, price rises may not be advisable in the immediate term Trading � Taverns: � Taverns� LfL sales are +2.6% � Wet-led sales held up well, even during the snow. Fewer customers rely on cars & trade is a little less weather-dependent � Marston�s says sales are �benefiting from the performance of franchise-style agreements and an improved drinks range.� Trading � Leased Pubs: � Leased income is up 2% on a LfL basis. The estate has �performed well� Trading � Beer Company: � Marston�s beer company has increased own-brewed beer volumes by 33%, largely on the back of the Charles Wells� acquisition � Although no LfL numbers are given (and it may not be possible to disaggregate the purchase at this stage) underlying trade is believed to be strong � Synergies are progressing as planned � Marston�s reports �in addition to the acquisition of Charles Wells Brewing Business we are benefiting from distribution gains achieved in 2017 and a stronger brand portfolio well represented in the premium ale, craft beer and �world beer� segments of the market.� Balance Sheet, Cash Flow & Debt: � Marston�s does not update on balance sheet movements at its quarterly statements but the group has opened 3

I agree. I took my first handful of NG today at 760p. Will add some more but will hold off to see if this has much further to go. Great addition to the income portfolio, having watched it fall for some time..

Wasn't to be Bamps, and I think we'll be firmly red today too. As a long term holder I'll look to add more on this market correction. Sub 1p maybe, but who knows - MARS has been beaten up a fair bit already. I'm mostly in cash now, other than MARS and a couple of AIM speculative plays

Hi Bamps. Don't think the CW plant in Bedford is closing - final sentence states the ops at Bedford are not affected. Think they're streamlining to compliment the new facility in Burton.

Article from last week. Apologies if already posted... Snowy weather has struck pub operator Marston’s (MARS) and wiped off £1m in profit in the 16 weeks to 20 January. In early December and between Christmas and New Year, icy weather deterred customers from popping out for a pint and traditional pub food. Like-for-like sales declined by 0.9% due to the unexpected disruption to trading. Excluding the impact of the two snow-affected weeks, revenue increased 1.1%. Other divisions enjoyed stronger trading with like-for-like sales in taverns rising 2.6% thanks to an improved drinks range and franchise-style deals. Marston’s Beer Company is also a bright spot with own-brewed volumes up 33%. The performance was supported by the acquisition of Charles Wells Brewing Business, distribution gains and a strong brand portfolio. DECELERATION 'EXPECTED' Shares in the pub operator are down 1.6% at 112.8p as investors are apparently not that surprised by the subdued trading. Stockbroker Numis notes the Peach Tracker for December fell 1.6% in December in the Pub Restaurants category. It marked a significant drop from 1.5% growth in November. JP Morgan Cazenove’s Alexander Mees says Marston’s is more susceptible to bad weather due to its focus on rural locations and the Midlands and the North. Underlying sales growth is steady at approximately 1%, up from JP Morgan’s 0.9% forecast. Mees cut pre-tax profit estimates by 1% to £110.7m for the year to 30 September 2018, but remain confident Marston's can deliver more than 10% profit growth this year.

https://www.burtonmail.co.uk/news/burton-news/marstons-investment-burton-brewery-jobs-1153693 Burton brewing giant Marston's is set to bring jobs to the town as it invests £8 million a new canning and bottling line. Marston’s has revealed the investment will take place over the next six to 12 months and could bring dozens of jobs to the town, just weeks after it was announced that Unilever’s Colman’s Mustard production would also be relocating to Burton from Norwich, where the firm currently makes Marmite. The announcement comes as Marston's has said up to 40 jobs may disappear from a brewery in Bedford which it recently bought in a £55 million deal. Marston’s took over the Eagle brewery, in Bedford, from Charles Wells in May. It also runs a similar canning and bottling line here. The Shobnall Road firm has now entered into a consultation period with approximately 35 to 45 employees at the Bedford brewery, in Havelock Street, which is believed to employ around 150 people in today. A spokesman for Marston’s said: "Marston’s Beer Company has announced a significant £8 million investment in new canning and bottling lines. The new state-of-the-art line will be situated in Burton at the company’s Marston’s Brewery. "As a result of this the company is entering into a consultation period with approximately 30 to 40 employees at the Eagle Brewery, in Bedford, where it has a similar production function is situated. Those people affected by this have been notified. Brewing operations at Bedford are not affected."