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Marstons

July 2016

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.

Broker Numis reported that the over-riding impression from Marstons’ interims was of a company confident in current trading, strategy and improving financial metrics despite a competitive environment. The biggest fear is of future over-supply of competitor sites in casual dining but Marstons encouragingly sees sector supply growth slowing in 2017, although as it operates mostly in less competitive secondary locations it is less affected.Group revenues and profit rose almost 12% to £429m and £33.1m, respectively, while strong cash flow reduced net debt / EBITDA from 5.4x to 5.0x. Average profit per pub is up 13% this year and 44% since 2012.The engine room for growth is its managed pubs side trading under the ...

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Marstons - Gentle recovery continues (November 2010)

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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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Marstons

July 2016

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