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Marstons - New build pubs success triggers share price break-out

January 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Marstons have sprung to life, hitting a 12 month high of 116p with the catalyst being strong final results. For the year to 2 October pretax profit rose 4.6% to Â£73.5m while eps were 10p. Net debt fell Â£17m to Â£1,082m. Encouragingly, in the first 8 weeks to 27 November, managed pub like-for-like sales rose 3.0%, while tenanted pubsâ€™ underlying profits fell 1.5%.Its managed pubs saw turnover rise 1.6% to Â£374m while operating profit increased 8% to Â£65.1m. This was driven by like-for-like sales rising 1.7%, while strong cost control helped operating margins gain 1%. Overall, average profit per pub rose 10%. Marstons opened 15 â€œfood ledâ€ new builds and these are trading better than budget with average turnover pe ...

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Marstons - Expansion of large food-led pubs to trigger re-rating (July 2014)

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Marstons - Realignment towards managed pubs accelerating (January 2014)

Marstons - Accelerating new build pub expansion (December 2013)

Marstons - Hot weather boosts demand (September 2013)

Marstons - Poor weather reduces first half profits (July 2013)

Marstons - Shares hit new high of 140p (March 2013)

Marstons - First dividend increase since 2008 (January 2013)

Marstons - Shares hit new high of 122p (November 2012)

Marstons - Shares break through key resistance level (September 2012)

Marstons - New build expansion helps pubs operator beat forecasts (July 2012)

Marstons - Outperforms pub industry tracker (June 2012)

Marstons - Broker forecasts book value rise to 170p a share by 2015 (March 2012)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Marstons - New build pubs success triggers share price break-out

January 2011

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