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Greene King trading update

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Wizard
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Greene King trading update

#79809

Postby Wizard » September 8th, 2017, 7:07 am

We remain cautious about the trading environment and expect the challenges of weaker consumer confidence, increased costs and increasing competition to persist over the near term. In the longer term, utilising the benefits of the Spirit acquisition, our brand conversion and cost saving programmes, our robust balance sheet and our strong cash generation will be important levers to help deliver competitive advantage, growth and attractive and sustainable dividends for our shareholders.


Does not read well for near term dividends

http://www.londonstockexchange.com/exch ... 55994.html

Terry

PS has anyone else had their shareholder vouchers yet?

idpickering
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Re: Greene King trading update

#79811

Postby idpickering » September 8th, 2017, 7:13 am

Thanks for putting this up Terry. You beat me to it so I deleted mine. :D No I haven't received any vouchers. How many shares do you have to hold to qualify please?

Regards,

Ian.

Wizard
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Re: Greene King trading update

#79818

Postby Wizard » September 8th, 2017, 8:06 am

idpickering wrote:Thanks for putting this up Terry. You beat me to it so I deleted mine. :D No I haven't received any vouchers. How many shares do you have to hold to qualify please?

Regards,

Ian.

Fast fingers Ian :lol:

According to Hargreaves Lansdown it is just 100 shares. This link may be helpful as it lists a range of companies and shareholder benefits:
http://www.hl.co.uk/shares/shareholder-perks

That said I had a very quick look on the Greene King website and could not see anything about it.

Terry.

OLTB
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Re: Greene King trading update

#79820

Postby OLTB » September 8th, 2017, 8:13 am

Just to confirm that mine came through a few weeks ago from HL automatically and they stated that it was 100 shares.

Cheers, OLTB.

idpickering
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Re: Greene King trading update

#79821

Postby idpickering » September 8th, 2017, 8:20 am

Wizard wrote:
idpickering wrote:Thanks for putting this up Terry. You beat me to it so I deleted mine. :D No I haven't received any vouchers. How many shares do you have to hold to qualify please?

Regards,

Ian.

Fast fingers Ian :lol:

According to Hargreaves Lansdown it is just 100 shares. This link may be helpful as it lists a range of companies and shareholder benefits:
http://www.hl.co.uk/shares/shareholder-perks

That said I had a very quick look on the Greene King website and could not see anything about it.

Terry.


Thanks Terry. As did I. Couldn't find any mention of the vouchers.

Ian.

idpickering
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Re: Greene King trading update

#79822

Postby idpickering » September 8th, 2017, 8:24 am

The announcement hasn't gone down well. SP down over 11% as I type.

Ian.

Wizard
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Re: Greene King trading update

#79823

Postby Wizard » September 8th, 2017, 8:29 am

idpickering wrote:The announcement hasn't gone down well. SP down over 11% as I type.

Ian.

Yes, I am about 25% down since buying late last year. Not sure I would buy any at the moment, I think market may be seeing trading update as a signal that the dividend is going to be flat at best.

Terry.

cshfool
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Re: Greene King trading update

#79824

Postby cshfool » September 8th, 2017, 8:31 am

Or a trading downdate even? :|

Apparently brewers are traditionally known for their sober suited caution but this one is looking increasingly flat to me, at best. I might start to get a tiny fizz of interest again if a well covered forward yield gets to 6% + but I disposed of GNK a while back and recycled elsewhere, -risking lack of diversification of course. Balance sheet? - for me "robust" starts at net cash, not 125% gearing (or similar) - ok I can haggle a bit if its less than say 25%, -" robust" for that you must be mad etc, and I note the directors are hardly sloshing in their boots with little more than a few k each, apart from ch and ceo. I might like it at <550p , its a yawn at 650p.

In the time it's taken to write this it has tanked from 660ish to 580. ouch, comiserations.
csh

monabri
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Re: Greene King trading update

#79827

Postby monabri » September 8th, 2017, 8:44 am

Just a fluctuation...or is this another one to cry into the beer? I'm a bit worried about my HYP tbh......

Davidsb
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Re: Greene King trading update

#79832

Postby Davidsb » September 8th, 2017, 8:59 am

Vouchers for me and wife both arrived this week - sent by iWeb.

Selftrade still refuse to distribute them.

Hyppie
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Re: Greene King trading update

#79833

Postby Hyppie » September 8th, 2017, 9:05 am

Marstons is also down some 6% at the minute in commiseration and is now trading slightly below its stated book value.

funduffer
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Re: Greene King trading update

#79847

Postby funduffer » September 8th, 2017, 9:29 am

TJH topped up MARS last week.

I am thinking of doing the same at >6% yield.

Difficult to know if the future is bright for pubs/beer with growth slowing and prices rising, and the squeeze on household incomes. Pubs & meals out are probably the first thing to cut back on.

As said, these companies generally have reasonable cover though.

When was the last time GNK or MARS cut their dividend - I'm guessing 2008/9 financial crisis.

FD

Darka
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Re: Greene King trading update

#79853

Postby Darka » September 8th, 2017, 9:54 am

I'm disappointed of course, but I tend to focus on my portfolio as a whole, I'm down 0.46% today overall so not too bad really.

Can't always pick a winner....

OZYU
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Re: Greene King trading update

#79855

Postby OZYU » September 8th, 2017, 9:56 am

Just topped up MARS, a nice 'by product opportunity' to do so imho. Now just above target weight.

Considering trimming a few of my above weight flyers and topping up BT.A, LLOY, and introducing LAD to the portfolio. Still mulling it over.

Ozyu

richfool
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Re: Greene King trading update

#79859

Postby richfool » September 8th, 2017, 10:08 am

Greene King and Marstons are the two highest fallers currently, this morning. I would be looking very carefully at the prospects for the companies, as well as the dividend yield, if I was thinking of buying.
In times of financial hardship, pubs and restaurants tend to suffer.

Just spotted this:

https://uk.finance.yahoo.com/news/green ... 17754.html
Last edited by richfool on September 8th, 2017, 10:13 am, edited 1 time in total.

moorfield
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Re: Greene King trading update

#79861

Postby moorfield » September 8th, 2017, 10:10 am

It still looks like a good HYP candidate to me: a 5 year growing dividend (26.55, 28.40, 29.75, 32.05 and 33.20p), and from the cashflow statement a well covered dividend (quick estimate(*): net operating cash £299.2m less capex -£194.9m+£88.6m / dividend paid £100.1m = 1.9x). Supposing that operating cash figure were "stressed" down by 30%, the dividend still looks covered (just).

GNK currently on my shortlist as a possible replacement for Whitbread (WTB) at next January's portfolio review.

(*) see: http://moneyweek.com/four-ways-to-test-cash-flow-55012/

Arborbridge
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Re: Greene King trading update

#79873

Postby Arborbridge » September 8th, 2017, 11:00 am

In times of financial hardship, pubs and restaurants tend to suffer.


Which makes good companies in that sectors excellent candidates for your watch list.

Bouleversee
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Re: Greene King trading update

#79876

Postby Bouleversee » September 8th, 2017, 11:18 am

This is from ADVFN's a.m. bulletin:

"In corporate news, pub companies were all dragged down as brewer and pub operator Greene King slumped after it said pub revenues fell in the in the first 18 weeks of the year and it is feeling cautious about the coming months amid weaker consumer confidence, increased costs and increasing competition. Peers Mitchells & Butler, JD Wetherspoon, Fullers and most of all Marston's were all pulled down with it."

What was I saying the other day? (Can't remember which thread) Maybe I'm not so stupid after all, Geng. However, the dilemma now is whether my glass of Marston's is half full after being jogged and should be topped up or half empty and should be drained pretty quickly in case more of it gets spilt or watered down.

How long before other people's hardship becomes mine at the present rate of p/f attrition? Of course one's view is coloured by whether one has spare cash to invest or needs to raise cash for whatever reason. I see what remains of the p/f I need to sell drops in value by the day and as I am not allowed to deal online or set limits as executor, fleeting opportunities are invariably missed.
Last edited by Bouleversee on September 8th, 2017, 11:24 am, edited 1 time in total.

idpickering
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Re: Greene King trading update

#79877

Postby idpickering » September 8th, 2017, 11:24 am

Disappointing though it is, with the SP being down 12.5% as I type, I'm not going to allow any knee-jerk reactions get the better of me. I intend to rely on the fact that my HYP is well diversified, do nothing with my HYP today, and as early as it is, I'm going to sit in the garden, drinking a shandy. :D

Ian.

Bouleversee
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Re: Greene King trading update

#79879

Postby Bouleversee » September 8th, 2017, 11:25 am

Hope the weather is better up there, Ian. Pouring down, to put it politely, here. No change there.


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