The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Owners of London Southend Airport will also have their own Insurers from a Corporate point of view to satisfy Air travel, legal aspects/requirements too, D&O cover and E&O and the Lawyers and Accountants will be by now appointed by their insurers and they in turn will have their own P.I. Covers in place. So in the Uk they will have Directors and Officers Insurance to protect shareholders and their liability to same, Errors and Omissions Insurance, and Professional Indemnity Insurance. I would suggest the law is Uk law and the Airport would need to have had protective insurances in place to protect the Airlines and passengers too for Airlines and Airport licenses to have been granted. They should and we should be well covered in my opinion, and the High court is most likely to put a stay of prosecution until they have had time to digest what appears to be a contract despite (which again is likely to have a premises cover). GLA/DYOR.
Just to concern the plus 8% sales figs are in the statement "just for the pubs" we still have the brewery figs for Marstons 40% share to be added on. I wish they would include all group figs to give us a clearer indication over competitors. Afterall If M&B had greater beer sales then who is supplying them with their beer! Marstons group will also have benefitted via the Brewery. This is what they said " Total retail sales in the Group’s managed and franchised pubs for the 16-week period were +8.8% on last year. Both drink sales and food sales have been strong...." I would like to also see what the brewery sales figs were to take in "home sales" too. Suspect this will raise us above competitors.
Suspect the Brewery sales figs to the Supermarkets and off licenses have not yet been fully received or included as they will take some time to come in from the 000's of establishments across the Uk. We are seeing Pub figs and so I suspect overall we will be far more than an 8% gain overall and this will move us up above our competitors. Good to see year on year increases as we are gaining towards the £1Billion of sales that was the objective. GLA.
However I can see many suitors here also looking for an opportunity as even the govt. (RAF) have planes stationed at Southend and so what is a mere 200m to them to provide another bond to pay Carlyle off. Even Easyjet would have this sort of cash to become part owners. Not the end of the World perhaps the court will provide a "stay" in the owners interests. We should not be bullied here into submission where we can see Multiple Airlines now using the facility, and lets face it the timing of Carlyle's actions is just as we have expansion/recovery making good progress and their bond is in fact therefore more secure than it was before during the pandemic which appear to indicate their true intentions of a takeover whilst they feel they have the opportunity. Perhaps the court will support the little man here rather than a foreign giant.
Pineapple AGM to discuss tomorrow. Alpha have a call option in this stock-worth a read. See link :-
www.seekingalpha.com/article/4663614-marstons-all-option-on-uk-pub-culture?feed_item_type=article
Property values were actually going to be re-valued "post" pandemic where all were devalued during the start of the Pandemic. However do not forget the value the 40% share of the new expanding breweries too. Now just agreed to supply in addition to the 1400 plus Marstons pubs another 1400 odd Stonegate pubs as well.
Even another new partner has joined AeroItalia from Southend for the summer, enter Mann Link starting off with trips to Denmark.
Looks like expansion well underway for Europe now with Switzerland, France, Holland, Spain and Italy also all covered-starting to look very good, and a great opportunity to buy in at this price before other routes are added.
See Chairman wants Southend Airport to now work with local communities against additional noise, etc as he expects to at least double passenger numbers through Southend Airport this summer, where he has additional routes planned and the Airport has seen the best results this past winter in four years. Very exciting uplift for me. Momentum is starting to gather in business, as I expect AeroItalia to start adding additional routes, and as other airlines come to the Thames Estuary Airport that is ULEZ free. GLA we can expect a broker upgrade very soon!
Whitbread update tomorrow should give an indication of the sector -which I understand is doing very well now post pandemic. Let's be honest it is great to get back into a nice warm pub afterall. The Carlsberg Marstons partnership have renewed the partnership with Liverpool FC I see too. Also no pubs have been sold recently at less that book value and all were sold at a profit-for the last account- why would they as the market comes back. Would be interested in figures for Christmas and the new year now as they were talking about increased orders before. Referral was made to re-valuations of their propertied in the new year -post pandemic and so this will help fixed asset values further I am sure. Also looks like they could be supplying Red Oak soon too, as well as Stonegate. Still lots of growth to come here and even though I am doing very well here I have no intention to sell any of my shares.
The statement they sent out was dated 1st December just after the £100m was obtained from the Biomass sale. This section of the statement refers to Southend Airport. Since then new routes and airlines have been obtained :-
Completion of the Disposal follows satisfaction of the Cash Sweep Condition on 30 November 2023.
Following completion of the Disposal, Esken has also repaid the full monies borrowed under the Facilities Agreement and associated costs.
As detailed in the Group's interim results published on 29 November, Esken is making good progress in respect of addressing the maturity and terms of the Exchangeable Bond and towards the sale of its non-core assets. As such, Esken is continuing to progress the process to seek a new owner for LSA, with a view to crystallising shareholder value through securing the right long-term partner, who both recognises the inherent strategic opportunity and is best placed to support future growth.
Thanks Ex-Flight. In addition to the RAF too-remember. Southend is getting busier now -why not! A great location.
For Carlyle group lets not forget they have been making a lot of mistakes and errors recently resulting in a change of Management. They might also find UK law is different to that in the states too. Any contract here has to be balanced and fair. Once their loan is repaid there is no dispute anyway and the way rates are expected to fall, and business is increasing at Southend we will find the action is extinguished before a hearing even starts. Esken have referred to this as such once the loan is repaid the issue goes away on their last accounts. Aero Italia will not just be serving one route -lets wait for others to follow. I would not at all be surprised to see Ryan Air back soon, as they need to make up a few favours!
AeroItalia at that to Milan -yes. Things are starting to pick up and it looks like our new man from Birmingham International airport here at Southend is starting to get his feet under the table. Very surprised we are down today but suppose we have been up for the past couple of days now.
Can see more flights shortly following from AeroItalia as well as Easyjet.
Current Cheaper current fuel costs will also help sentiment. Next release due March or before may be interesting on speculation and costs.
Saxman -As Marston supply drinks to the MAB group we also all hope they do well too and Marston and the Brewery will benefit from their equal good fortune. GLA.
Unbelievable Easyjet Geneva flights are running from Southend Airport from just £15 each way to either Ski, or just further explore Europe.
Grenoble flights to start early February too.
Last summary on the Marstons web for 2023 before we enter the growth 2024yr gunning for £1B in revenue.
Pubs to be proud of
Our core strategy and vision is of delivering ‘Pubs to be proud of’ remains unchanged. We achieve our goals, sustainable growth and value creation through our focus on people, experiences and responsibility.
1,414 Pubs and bars c.11,000 Employees £872.3m Total revenue £34.4m Net cash inflow.
2024 is going to be a growth year. Enjoy downing the shorts!
Recent sale of the Bio Mass has saved the Company for 2024 and we look forward to the new exec from Birmingham Int Apt performing his magic with the new routes (which was why he is employed). One can expect volatility at this cheap price but with a 22% increase today both good and bad days will follow, but also a fortune can be made or lost so those with a nervous disposition need not apply, but this with a balanced portfolio who want risk and are already over the £3k CGT allowance for the year can. GLA.
As Shorters are getting desperate on here and panic they do really need to read the "official releases" to gain any respect, where the values of Marstons prop. during the pandemic were over £2 billion, something they turn a blind eye to, like they also did not hear or see the Chairman saying the property values during the Pandemic were now to be revalued post pandemic where the Company is making money, and every recent pub sold that was not part of his plans sold recently in excess of current book values. I wonder what the whole estate is going to be worth now to a Profiting environment, not long to wait! GLA. 6.63% gain today in addition to previous gains. Time to re-buy back in shorts before it's too late!!
You are right folks this is indeed back in the FTSE 250 and at this rate we will be heading to the 100. A top share this one, and also I like / hold Centamin (who like Hoch have found new reserves with more extensive new drilling in Egypt and Africa) and lets not forget Fres, once the Peso rates start reducing but we can expect all of the FTSE miners to do well once the rates are reduced. GLA.
As the shorts get burned fast due to the strong buying of Marston shares. We can see on one on here never ever shares a positive view for this or any other share he comments on with the LSE comments message section. The other who he recently agree with and commented sold his Rolls Royce shares at £1.46 and the price of that has doubled since. Shows what two of them know. However true to form I can see the price of Marstons shares doubling in the next two or three weeks, especially when and after the Christmas sales are in, when the new CEO is in, and when the BOE rates are revalued down. GLA.
Recovery in progress, bookings for Christmas fully booked, Inflation down to 3.9 %, money broking experts are saying next yr we may see 5 cuts at the B.O.E. what with the CM JV growing fast with new contracts being signed I hear every day, where recently Stonebridge signed including the largest Pub/ Wine bar estate om outlets in the Uk, and the only people being burnt are the small town shorts, some of which have admitted they personally do not now hold any shares -well when they buy them back they will need to pay far more as this share price rises even more into 2024 the Marston growth year as advised on their official web. I will certainly be having a Merry Christmas here. GLA -enjoy.