Member Info for jazz_01

Anyone hold this ETF? seems like good ongoing charge from a large bank like HSBC but always seem to find everyone talking about Vanguard etc!

How can people be saying this will get brought out for 2-4 times its current price?

I agree its very under valued, but we should be seeing a sharp reversal upwards if thats the case.

This is coming from someone whoes been here since covid 50% drop!

The Australian company that put in the offer of 170p a few months back has now increased its holding today....Could be another incoming bid, or a way of putting pressure on selling the company.

I have topped up here, cant believe the share price compared to where we were at in 2021, we were booming by crossing the 300p mark where people were talking about this returning to the 400p range. To now be at 88p is shocking!

The key variable here is the interest rates on debt - the debt is large and cost to service is massive, the operating business however is solid. They need to renegotiate the debt rate/reduce the debt pile for this to shoot back up sharply.

I am familiar with the UK side of the business (National Express) and they are a solid company, seems as though the inflationary pressures have been well absorbed across all of its businesses, we havent really seen price hikes yet (again atleast in the UK), I think there is cushion for them to increase but it gets political especially at the bus transportation system level with cost of living.

Overall - there is either a risk the debt becomes unservicable and this gets brought out/diluted for cheap, or we see a surge evertime the interest rates drop and the business demonstrates it can manage the debt so profit isnt gone towards interest.

Fantastic set of results - massively positive in a time most companies are struggling to control costs, maintain revenues and have negative outlooks.

Thoughts on the RNS? Was expecting worse to be honest given the last update where this tanked , would be good to be given more detail on the actual EBIT erosion to see if it’s truly temporary and where it’s being spent

Its true - but the market is always pricing into the future - does the 65% from pre covid peak not represent value to you?

On top of this, the best of the industry survive, i can see many independents being wiped out and the big firms picking and choosing any site they wish, getting the best beer deals to keep the suppliers going etc.

Im not bullish in the short term - long term I think this is undervalued though we again have the risk that it could get taken over on the cheap which means any benefit we would of had by taking the risk would all be for nothing.

Need to ride out the next 12-18 months for the wider economic recovery which would give this a strong bounce.

Share price movement tells you everything about the state of the market right now.

Why is MAB worth 20% more from 5 days ago? yet its still down 45% from 6 months.

Company value does not change that radically, Overall still bullish on MAB but i think we will see large swings for another year yet.

share price like many others in the market is currently bonkers, i dont think even positive news will push it up, better just to ride the wider economic wave then once we are back to normal times with small 1-2% growth every year, be sure these stocks will very quickly correct relative to earnings and value.

Both Marstons and Wetherspoons have announced good results, MAB is severely suppressed currently.

Now that’s what you call a bumper of an RNS.

Fantastic news all around

- I still dont think the currency impact has been reflected in NEXs share price tbh - surely this will be a fairly large impact.

- I dont see how the revenue/margins will be impacted significantly due to the energy crisis, fuel looks relatively hedged, labour cost is largely flat too, all services NEX provide are either critical or not something you would see demand suddenly fall on.

-Still suprised this hasnt been taken over by a US firm...

My view from a buy standpoint is MAB's offering is stronger then most other franchises with the likes of Harvester, All bar one and they arent selling £1.99 pints like Wetherspoons is. More of a premium/good food mix with drink offering.

The same cost impacts MAB face is the same as any other pub but in a better negotiating position like the larger chained pubs, i can see these guys eating up market share and picking up premises/independent pub volumes.

Understanding is the property portfolio they have is massive though the debt is no doubt an issue

Dont like the Odyzean setup too much and need to research this more closely, risk they takeover MAB on the cheap.

Personally visiting various pubs, MAB in my opinion is the best in terms of offering though even if they werent, i can see many of these independent pubs either closing down or getting brought out where chains like MAB can take over and run more efficiently ( better supply chains for food, consistent menus, drinks supplies, sharing general managers in areas rather then the 1-2 person owner drawing a salary from a single pub) etc.

This was 300p+ not so long ago, its the energy costs then the inflation chaos that has tanked this, some of the drop is definetely justified but if they can survive for 1-2 years at break even/just above, the next market cycle they will make strong profits.

Are the property values of this not £2.4 billion plus alone?

I am invested here but really not much new info coming out these days.

This is a hold for me rather then a sell/buy, not selling as I think places like hollywood bowl are here to stay for a very long time and the sites are easily adapatable to meet customer demands such as escape rooms, larger/smaller drinking/food areas etc. They also take sites on that really no one else will be able to take so they will have aggresively low rental costs etc as it drives footfall into retail parks.

Only concern is cost of energy/utilities whether they are hedged or not.

Was expecting worse to be honest - no profit indication but the increase in energy / utility costs isn’t too bad but the sales figures are relatively stable:

Share price is a little cheap but not bargain in my opinion

Im suprised this hasnt been taken over by US investors, they would have all the connections to re-jig long term loans in the US at favourable rates, most of the business is in the US, the pound to dollar has slid significantly (30% ish) from the 1.45s from last year yet the share price is significantly below that figure.

On top of that - this organisation is much more recession proof, fuel is hedged though its sliding already from the highs and its a critical service for both the UK and US.

Agree regarding the currency element.

pound to usd was circa 1.4 when NEX was much higher, most of the inflationary costs are hedged so this is definetly oversold in my opinion, currency impact alone should drive profits higher then forecasted.

Still a hold/top up from me on this, I dont see the services NEX provide dissapearing anytime soon, multiple governments are pushing for public services, the coaches offer good value and the cost pressure seems relatively under control.

The price of oil will drop no doubt and the pricing/cost base will stabilise to whatever the market deems.