The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Inflation is reducing and Sales and increasing.
Talk of 26 degrees in the Uk per the weather forecast and for October? However the days will soon become shorter soon -Just like the shorts who have returned for their short break? I can see a summer roasting coming for them soon. Time for me to buy some more today. GLA.
Inflation is reducing and Sales and increasing. I wonder what that means? Looks like the shorter and the even shorter have it wrong again.
I read the stock market releases and make my own decisions. I invest in a balanced portfolio looking for shares that are underpriced. Everyone to their own. Certain low value stocks such as my Plexus shares have performed by increasing over 1,000% in 3 weeks. Whereas certain stable shares such as Lloyd's Nat West Barclays etc have not performed as well. Every one to their own. No I am not on Eskens board in fact I retired in my early 50's from Lloyds as I no longer needed to work in the City and have made more since then with my own investments. DYOR but I am happy with my own choices.
Yes according to M&B the sector has picked up and Marston have said sales increase with the warmer weather too. As I understand it the brewery also supply sales to M&B in any case whether direct to them or by their own wholesalers. Wetherspoon have their results next too and this should give further indication of the sectors performance, and then we will see how Marston are doing. I will be disappointed if we do not see at least another 10% plus sales improvement. Not long to go now-fingers crossed so that fair value will return to shareholders and the accountants share NPV of 90p plus!
The firms lead counsel appears to indicate on the official london stock exchange a sale of the airport is being pursued which will result in the early redemption of the loan agreement from Carlyle Group. That Carlyle Group have started proceedings in the high Court and Esken do not agree with their contract interpretation. The sale process is currently underway which the Board believes, would realise value for Esken shareholders. As stated in the trading update issued on 30 August 2023, the Board has been encouraged by the level of initial interest received in relation to the airport. The return to pre-pandemic demand throughout the travel sector means there is now positive traction in performance, with the outlook for Summer 2024 travel looking strongly positive.
The dispute is not concerned with non payment - more on the terms for an early repayment. The statement is not therefore bad news in its entirety in my opinion and in fact supports my investment. GLA/DYOR but read the stock market release.
This is only a contract dispute and one for the lawyers to fight out. Both will be insured and both sets will obey by their Insurers instructions. The dispute is only about the interpretation of the words of the contract. This loan will be repaid on the sale of the airport, and if the contract was unfair it will come under the unfair contract terms laws. From dealing with this sort of thing in the past it is in everyone's interest to put the loan at a standstill -it may been proven it was not even fit for purpose. Many here are blaming Esken for the agreement they are not responsible but their lawyers might well be, but on the other hand CG might also be wrong with their interpretation anyway. I feel some here that may have pleasure from Shorting are seeing too much into this. At the end of the day CG will get their money back if the airport is sold. Esken have said this " Carlyle claims technical breaches by LSA, but Esken doesn't agree with Carlye's interpretation of the loan agreement and will support LSA in defending the court action "vigorously".
Esken says it will continue the sale process to find a new long-term owner for the airport, which is in Essex, east of London. It believes the value of LSA is higher than the redemption value of the Carlyle loan. Esken will continue to provide liquidity support to LSA until a sale is completed, it says. The Company is still trading and opening up new routes all the time. I expect more to be coming soon especially with the problems at the other airports in particular.
52 trading a/c ends 30/9 but understand we may get something out on 11th October for recent sales but as LEJB says full account will be later as he has said. I daresay we also need time to get in the figures from the Brewery partnership too which by all accounts based on M&B newscast for recent trends in the sector could be very encouraging.
Winter brings in passengers particularly older passengers wanting to get away, which is why Easyjet are starting to Fly to Alicante in October (although this will now be all year round! The oldies get cheaper flights and save money by not being at home whereby saving money by turning down or not using their own home energy and food costs.
Easy jet are also flying Ski Holidays now to Geneva too so this Winter is starting to bring in new business! As well as Faro, Majorca, and Euro flights to Amsterdam with Paris to follow in time for Christmas -so things are getting busier.
Looks like M&B have issued a well received report today saying that they have seen a strong rise in sales for this sector. Hopefully setting a trend for Marston to follow with their next statement. Fingers crossed. GLA.
I would imagine the Lawyers from both Companies would have drafted any bond/loan agreement and their insurers would be involved to under their professional indemnity covers. The way this goes is as I say a "standstill is put in place" whilst it is discussed, (which could take 2 years or more) and it is likely the Company will sell by all report Southend Airport and simply pay off the loan before any court action takes place. In my mind Carlyle Group in this case have not helped themselves as any payment due is likely now not to take place which might actually help the Esken cash flow as it further expands with no doubt more new routes being added where Gatwick in particular is at a difficult place at the moment.
I know my own (rather my wifes shares)I bought her have gone up by 1000% in 3 weeks, so wondering whether to buy her some Marstons to support my own holding as their sales figs might be very good based on the recent warm weather extending virtually into October? Interesting?
Pretty sure the Company will have legal defence and Insurers with professional business insurance representing them and the way this will go is into a "standstill agreement" to discuss the terms of the loan, (which may be to Eskens benefit) as they will not have to pay back loan repayments if at a standstill, and then pursue the sale which will pay off the loan.
Very warm in the Uk for the end of September which we hope has increased sales for the "summer" not long to go for the full 52 weeks figures! Should be impressive based on the fact Marston have advised shareholders the warmer weather increases sales! GLA.
I agree Carlyle Group are trying to get hold of London Southend Airport on the cheap. The firm refer to being surprised by the amount of interest they have had in a proposed sale. The value of the Airport being in excess of the Carlyle Loan which will be no doubt paid off early within any sale agreement leaving a surplus to shareholders of equity. The BOD refer to increased traction post pandemic which is likely to further increase its value to make the loan more secure (until any sale) so the Carlyle move speaks for itself where Esken say their have not been any breaches? In the meantime the travel sector continues to grow. So some positives for shareholders for the BOD statement. The reference to the sector is because S/end gain further traction on the back of the larger airports bringing in pax for interconnecting flights.
Saw tonight what a fantastic result for Wales in the Rugby World Cup against Australia, and also in the crowd so many Welsh supporters with Sponsorship from Brains! Good for the business and sales as we approach the end of the 52 week business year. GLA
Seems like no one believes (the) Hazzy Truth when they see the number of investors keen on this share (even today). In fact even my broker which is by the way the largest bank in the Uk is keen on this share. So you must know more than them? I always run a few low value shares to balance ones portfolio and quite often they pay more than the so called stable shares. GLA. DYOR.
I had a quick look at the Drax web today and can see more how the Bio Mass process works and to me it actually looks very interesting. They say the burning of waste products inc wood pallets is used to supply a boiler which then in turn produces steam to drive electric turbines instead of coal and the steam producing electricity is co2 free. Nice one. No wonder Esken have said they have buyers interested in their Bio mass division. The Drax web is worth a look. GLA
Today at 10.29am I see 1.44 million buys so someone knows something going on.
Better news interest rates on hold. Good points- Dulwich man! I know the area well, as was brought up not far from there. I see Marstons provide a very good map that can be used on their web site to find close pubs by post codes. You will be surprised how many they have.
Suppose nearest to Biggin is "Boundary on the Green" at Caterham and "White Hart" at Godstone, nr Sevenoaks! Or today Eight oaks after a planting error!!
Well to be honest I drive and only drink low alcohol beer nowadays, whereas I would not drive into London anyway. Too many years working there to be honest have taken their toll which might explain? Sorry!