Marston's Trading Statement.

[idpickering]

Here; viewtopic.php?f=94&t=17669&p=238807#p238807

[Walrus101]

Here; viewtopic.php?f=94&t=17669&p=238807#p238807

On the face of it, sounds positive. Guess it depends what the market was expecting, but the strategy appears sound to me

Cheers Ian

[idpickering]

Here; viewtopic.php?f=94&t=17669&p=238807#p238807

On the face of it, sounds positive. Guess it depends what the market was expecting, but the strategy appears sound to me

Cheers Ian

I hold, and agree with you, but the market thinks differently, with the sp down over 5% as I type.

Ian.

[Walrus101]

Here; viewtopic.php?f=94&t=17669&p=238807#p238807

On the face of it, sounds positive. Guess it depends what the market was expecting, but the strategy appears sound to me

Cheers Ian

I hold, and agree with you, but the market thinks differently, with the sp down over 5% as I type.

Ian.

Yes that was my suspicion when I saw them.

[idpickering]

Now down over 8%. Overdone IMHO. Anyone tempted? I've spent enough on them already, but shall continue to hold.

Ian.

[IanTHughes]

Here; viewtopic.php?f=94&t=17669&p=238807#p238807

On the face of it, sounds positive. Guess it depends what the market was expecting, but the strategy appears sound to me

I hold, and agree with you, but the market thinks differently, with the sp down over 5% as I type.

I too believe that this Trading Update is good news for those holding the shares. However, with the price increasing by over 8.5% over the past month, I think we can be confident in thinking that the "Market" was already expecting good things, obviously better than reported this morning!

Of course, as an eternity holder, an HYPer already drawing income will not care one jot for the entirely normal random walk of share prices. Also, anyone still building an HYP can now lock in a higher yield with Marston's PLC (MARS)! Good news all around, no?


Ian

[idpickering]

I too believe that this Trading Update is good news for those holding the shares. However, with the price increasing by over 8.5% over the past month, I think we can be confident in thinking that the "Market" was already expecting good things, obviously better than reported this morning!

Of course, as an eternity holder, an HYPer already drawing income will not care one jot for the entirely normal random walk of share prices. Also, anyone still building an HYP can now lock in a higher yield with Marston's PLC (MARS)! Good news all around, no?


Ian

Maybe so Ian, and your second paragraph hits the nail on the head.

Ian.

[blobby]

Trading Update with formatting here:

http://www.marstons.co.uk/docs/financia ... 190724.pdf

This seems to have surprised the market a little with the sp down 10p as a type. I think the key to the sp drop is this:

weaker sales in the last 16 weeks reflecting strong trading in the same period last year, which included the World Cup and an unusually hot summer.

This seems perfectly reasonable to me and I’m not sure why the market was not expecting this.

Better (and more important) news is the plan to accelerate the dept reduction program. Expansion plans are being scaled back. This is what the market has been crying out for in the last few years and the perceived high debt is why many think MARS has such a low market rating.

Having made good progress with our cash generation and debt reduction plans, we have subsequently decided to accelerate our efforts in this context and defer our remaining new-build plans and reallocate £20-30 million of the £70 million new-build capex over the next three years to drive higher returns from our existing estate. We believe that this focus will further enhance our returns from our existing pub business and reduce our debt at an even greater pace.

[Walrus101]

Looks like I'm out of another of my HYP as my stop losses have been triggered. Yuck

Moderator Message:
Stop losses are not part of any HYP strategy to which this board is devoted. Please see the board guidance. Thanks - Chris

[blobby]

Looks like I'm out of another of my HYP as my stop losses have been triggered. Yuck

Moderator Message:
Stop losses are not part of any HYP strategy to which this board is devoted. Please see the board guidance. Thanks - Chris

Sorry to hear that Walrus. MARS is doing OK for me; I’ve been invested for a while and increased my investment. Basically, I believe in the future and there seems to be enough security in terms of TNAV to make it one of my favourite shares.

[mrbrightside]

This is the main element I am interested in. Interim held for third year running. Final static for 2 years. Not a cutter though.

Interim dividend maintained at 2.7 pence per share, as previously guided