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Marstons

January 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 the high profile restaurant closures and Brexit uncertainty, Marstons put out final results reassuringly in line, with revenues up 15% to £1,140m while pretax profit rose 4% to £104m. Eps fell 2% to 13.9p, reflecting more shares in issue to fund the Charles Wells brewing assets. The biggest cheer was it held the final dividend of 4.8p (yield is 4.8%). Net assets per share were 151p, comprising mostly pub freeholds.Destination & Premium (406 pubs) grew profit 1% to £89.4m reflecting poor weather and industry cost pressures like national living wage, business rate rises. 14 pub restaurants and seven lodges opened in the year.Taverns (1139 mainly tenanted and franchised pubs) grew profit 2.4% to ...

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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)

Marston's - Newbuilds ahead of target (February 2012)

Marstons - "Improvement in all divisions" (December 2011)

Marstons - Dirt cheap on yield of 6.7% (September 2011)

Marstons - Shares bounce back (June 2011)

Marstons - Shares heavily over-sold (April 2011)

Marstons (March 2011)

Marstons - New build pubs success triggers share price break-out (January 2011)

Marstons - Gentle recovery continues (November 2010)

Marstons (September 2010)

Marstons - Strategic changes to usher in stronger returns (August 2010)

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Marston's - Shares finally break upwards again (May 2010)

Marston's - Looking forward to World Cup boost (March 2010)

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Marstons - Launches 11:10 rights issue (July 2009)

Marstons - Managed pub sales unexpectedly rise (May 2009)

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

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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

January 2019

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