Updates

Marstons

March 2019

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.

In spite of consumer worries, the Q1 19 update showed like-for-like sales up 1.4% including a sparkling 5.7% over the Christmas fortnight, helped by favourable weather and the mid-week timing. A slight irritation is that Marstons is underweight in London where the Coffer Peach tracker index showed red hot growth of 5% in December versus 3.8% outside the M25.Destination & Premium (managed pubs) grew underlying sales 0.5%, an improvement on 0.1% for the final 10 weeks of FY’18. The wet (drinks) led Taverns division grew sales 3.2% while beer sales rose 2.5%.CEO Ralph Findlay’s focus to improve the share price has manifest on a commitment to lower net debt by £200m to £1.2bn in 2023, which would reduc ...

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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

March 2019

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