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Marstons - Shares break through key resistance level

September 2012

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:
  • 111.8p
In spite of the wet summer Marstons announced a 1.6% rise in like-for-like sales in the 10 weeks to 21 July against a robust comparable of plus 2% a year ago. For the 42 week period underlying sales growth was 2.2%, with food (+2.4%) and drinks (+2.1%) both contributing. Encouragingly, operating margin was slightly above last year as the positive effects of volume led operational gearing outweighed cost inflation. Meanwhile, the company is still on track to open 25 new build pubs this year. Also encouraging was Marstons' tenanted pubs side, where like-for-like profits rose 3.2%, reflecting a strong performance from the 450 pubs converted to retail agreements. Net debt and cash flow were in line with expectations. Broker Pee ...

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