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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Marston's - Quality asset-backed pubs operator

April 2007

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:
  • MARS
  • Price:
  • 449p
Given the substantial freehold backing inherent in most regional pub companies, the old joke was that if the brewery burnt down, its share prices would go up as the insurance pay-out would always be worth more than the book value. These days the growth in property values has driven unprecedented dot com style increases in the shares of virtually every pub firm in this sector, which ironically was the traditional preserve for investors with the lowest appetite for risk. West-Midlands-based Marston’s (FT sector: Travel & Leisure), the pub company formerly known as Wolverhampton & Dudley, is a self-styled "super regional" which has busily acquired several smaller rivals in its quest to become a national playe ...

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Marstons - Pubs operator attractive on PE of 6 and dividend yield of 10.9% (January 2009)

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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