Member Info for fatprofits

And also note...how many shares bought post statement by the BOD...

Fats is very bearish on Whitbread atm

Right, firstly I agree government policy is unhelpful and costly..

However it's also fair to reference the recent MAB results, which

were strong, Fullers and Young's slso very strong.

I do appreciate these are primary pubs, rather than hotels..

That aside, I consider there is a need for some transparency with

the current state of the business...

Whitbread has poured hundreds of £ millions in to Germany and now over a decade later, it's remain loss making..

If they had not entered the German market they would have more cash then they knew what to do with..

But it's more serious than just Germany, because they are now engaging in increased use of sale and leasebacks in the UK business to boost cashflow, which effectively saddles the business with longer term debt obligations..

What's happening with this business currently us just Not good enough..

MAB is on approx 9 X earnings - that's part of the reason,

WTB sells at higher multiple so there's more room for disappointment

Either GRI trades closer to NAV or

the prospects of a bid for the business increases..

BTR, is at a very early stage of development in the UK.

All IMV, as always..

What would slightly concern me is an apparent increase in customers reporting...that their room looked needed a refresh etc..

The sale and leasebacks could potentially come back to bite them...need to be careful not to saddle the company with onerous linger term lease liabilities...just so they can ..buy back there own shares...

Properties worth over a certain value..

Which may not apply to some smaller operators..

Lovely, more to come imv..

Is this just some mean reversion on the multiple...

However, only fait to say there were some very nice trading opportunities in the interim..

Still a beautiful and growing yield, which is fully covered by earnings..

Will have a look early doors to see if ai can discern the tealeaves..

As the Jet is given to outsized moves, I don't have a high degree

of confidence in my ability to read this correctly..

Creeping Up..

Fat discount to NAV, beautiful dividend held in am ISA,

very solid portfolio..

One of my rare Strong Buys..

That's a big call...

Have you factored in the currency devaluation...

Unless someone is posting the time and price of their trades,

not the next day or after market close, I don't give it any credence..

But yiu do you...good luck.

WOW

What an amazing trade, mentioned the next day 😂

The elephant is galloping

That's not aged well..

Once you subtract their own net cash (non customer cash)

it's considerably less.