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Marstons - Poor weather reduces first half profits

July 2013

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:
  • 145p
Shares in Marstons have soared to over 150p in recent months and not even half-year results, showing underlying pretax profit and eps falling 18% to £27.6m and 3.8p, could prevent their progress, particularly as this decline reflected one-off factors such as poor weather and higher interest charges. Net debt rose from £1.12bn to £1.19bn reflecting higher capital expenditure on new pub openings. Its 339 managed pubs trading under the “Two for one,†“Milestone†and Pitcher & Piano formats, increased like-for-like sales 6%, with operating profit rising 9.5% to £24.2m. Food sales were up 9% and contributed 52% of divisional turnover, while wet sales rose 3%, a respectable effort given the cold weather in January and Marc ...

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