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Marstons - Managed pub sales unexpectedly rise

May 2009

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:
  • 156p
Shares in Marstons rose sharply after the pubs operator put out a better-than-expected update, which noted that while like-for-like sales in its managed pubs fell 1.8% in the 27 weeks to 13 April they actually rose 3.1% in the most recent 8 weeks. This reflected growth in sales of cask ales as well as success from its value-for-money food offers. Operating margin was slightly below the previous year but in line with its budget. Meanwhile underlying sales at its tenanted pubs was broadly unchanged from the previously reported number. Marstons has also sold another 32 pubs for £13m, at c. £400k per pub and encouragingly these disposals are in line with book value. The shares, which were both a fr ...

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