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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Punch Taverns - Pubs giant poised for next big acquisition

November 2003

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.

  • Epic Code:
  • PUB
Punch Taverns, one of the new breed of  fast-growing tenanted pub landlords who finance acquisitions through securitised debt, has performed well recently on hopes that the group is poised to strike another deal.  Punch was formed in 1997 to take advantage of a fragmented industry, where many traditional operators were disposing their tenanted estates to finance a move into areas perceived as having better growth prospects, such as hotels and healthand fitness.  Punch's first acquisition came from Bass (now Six Continents, 592p).  However, the group only came to prominence in1999 when former Chairman and celebrated entrepreneur Hugh Osmond instigated the acquisition of Allied Domecq's 1,800 strong p ...

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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.

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