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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.

  • Epic Code:
  • MARS
  • Price:
  • 116p
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 £73.5m while eps were 10p. Net debt fell £17m to £1,082m. Encouragingly, in the first 8 weeks to 27 November, managed pub like-for-like sales rose 3.0%, while tenanted pubs’ underlying profits fell 1.5%.Its managed pubs saw turnover rise 1.6% to £374m while operating profit increased 8% to £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 “food led†new builds and these are trading better than budget with average turnover pe ...

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