I bought into these in December last year, primarily for the yield, but also for the potential growth of one of the better companies in their sector.


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Marston's Fundamentals (MARS)

Shares mag reckon MAB interims on 19th May are likely to disappoint.
2517

Oh well that's it then George, sell, sell sell! :0) Not in either just an observation.

I'm in MARS but not MAB so you would probably be better off buy, buy, buy MAB :0) and sell, sell, sell MARS :0(
2517

Interim Results

Profit and cash flow growth from high quality pub and beer business

· Strong trading performance:
- Underlying Group revenue up 11.5% to £428.7 million
- Underlying profit before tax up 11.8% to £33.1 million
- Underlying earnings per share up 11.9% to 4.7 pence per share
- Profit growth in all trading segments
- Operating cash flow up £23.1 million to £81.3 million
- Leverage reduced 0.4x to 5.0x. Fixed charge cover up 0.2x to 2.6x
- Statutory profit before tax up £50.3 million to £22.8 million

· High quality pub estate delivering strong growth:
- Like-for-like sales growth of 3% across managed and franchised pubs
- Seven pubs and three lodges opened in the period
- First new-build Tavern successfully opened under franchise model
- High quality Leased business delivered like-for-like profit and rental growth
- Average profit per pub up 13% in 2016, up 44% since 2012

· Market-leading beer business continues to grow strongly:
- Underlying operating profit growth of 16% driven by Thwaites acquisition
- Strong brand portfolio continues to outperform market with volumes up 22%
- Market share up 1.5% in premium cask ale and 1.1% in bottled ale
- Hobgoblin Gold (2014 launch) now a 'top 15' premium bottled ale

· Interim dividend up 4% to 2.6p per share; cover of 1.8 times improved vs H1 2015

· Full year plans on track
- Performance to date in line with expectations
- At least 20 new pubs this financial year, including two Revere bars
- Five new lodges

Commenting, Ralph Findlay, CEO said:
"We are encouraged by our first half performance and are on track to meet our expectations for the year. In pubs, we have driven our growth by the organic development of pub-restaurants and franchise-style pubs, and more recently through investment in lodges and premium bars, widening our appeal. In Brewing, we had an excellent first half year and achieved good growth through our industry-leading brands and service."

18 May Panmure Gordon Buy 156.60 175.00 175.00 Reiterates

Set of very good results with revenue, profit and EPS all up as is the dividend, outlook seems fine, happy with my holding so nfa required.
2517

Canaccord Genuity Hold 154.30 175.00 175.00 Reiterates

Numis Buy 154.30 185.00 185.00 Reiterates

What a good set of results, up nearly 2% on the day.

Brewin Dolphin go below 5%.http://www.moneyam.com/action/news/showArticle?id=5349219

Canaccord Genuity Hold 135.80 175.00 175.00 Reiterates

Lots of bombed out UK stocks. Just a matter of deciding which ones to pick!

Trading Update

Marston's PLC "the Group" issues the following Trading Update for the 42 weeks to 23 July 2016.

Trading

We have continued to make progress in line with our expectations.

In Destination and Premium, like-for-like sales for the 42 week period were 2.5% ahead of last year, including like-for-like food sales growth of 2.1% and like-for-like wet sales growth of 2.6%. In the most recent 16 weeks of the period, like-for-like sales were up 1.8% despite the anticipated adverse impact of the Euro 2016 football tournament on these predominantly food-led pubs.

We remain on track to meet our growth targets for 22 pub restaurants and bars in the current financial year in addition to six lodges.

In Taverns, like-for-like sales for the 42 week period were 2.8% ahead of last year, with growth of 2.5% in the last 16 weeks of the period. Euro 2016 has contributed to this continuing strong performance and helped to offset mixed weather.

In Leased, profits for the 42 week period are estimated to be 2% ahead of last year. As previously stated, the Pubs Code introduced by the Government in July 2016 is not expected to have a material impact on the leased estate.

In Brewing, own-brewed beer volumes were up around 14% compared to last year.

Net debt and cash flow are in line with expectations.

Commenting, Ralph Findlay, Chief Executive Officer, said:

"We continue to be encouraged by our performance. As expected, Euro 2016 was broadly neutral for the Group as a whole and we have continued to maintain our market outperformance by focusing on offering our customers great experiences and value in modern pubs and bars. In Brewing, we are growing in an attractive market, demonstrating the effectiveness of our new product development and the appeal of our brand portfolio, underpinned by industry-leading service.

Although much has been written about the potential effect of Brexit on consumer confidence, we have not seen any discernible impact on trading to date. We believe that our focus on value and affordable treats is appropriate for current market conditions, and while we remain ever mindful of the risks to long term business confidence, it continues to be our intention to develop and implement our proven growth strategy."

Forthcoming Events
Please find below the forthcoming reporting dates for the Group, which are also available on the investor calendar on our website - www.marstons.co.uk/investors

Year-end trading statement
12 October 2016
2016 Preliminary results
24 November 2016
2017 Interim results
17 May 2017
2017 Preliminary results
30 November 2017

Canaccord Genuity Hold 139.45 175.00 175.00 Reiterates

Numis Buy 139.45 185.00 185.00 Reiterates

Panmure Gordon Buy 139.45 175.00 175.00 Reiterates

Gap filled.

Directorate change

YEAR-END TRADING UPDATE

Marston's PLC ("the Group") issues the following update on trading for the year ended 1 October 2016. The preliminary results will be announced on 24 November 2016.

Trading
We have made good progress this year with underlying profit before tax in line with management expectations.

In Destination and Premium, like-for-like sales were 2.3% ahead of last year including food like-for-like sales growth of 1.7% and wet like-for-like sales growth of 2.3%, underpinned by strong growth in room income. In the last 10 weeks of the period like-for-like sales have grown 1.8%. Operating margin is in line with last year and we completed 22 new pubs and bars and six lodges in the financial year just ended. In the 2017 Financial Year we plan to open at least 22 pubs and bars and at least five lodges with the openings programme weighted towards the second half year. We continue to have a good pipeline of sites to maintain similar levels of expansion for the foreseeable future.

In Taverns, like-for-like sales were 2.7% ahead of last year, with growth of 2.0% in the last 10 weeks including a strong performance in our franchise estate.

In Leased, like-for-like profits are estimated to be up 2% compared to last year.

In Brewing, our beer brands have performed very strongly, with own-brand volumes up 13% for the financial year and profits in line with management expectations.

Excellent volume on Friday.

Full year results 2016: 24th November 2016

From yesterday's telegraph :- Marstons push to premium food and beer pays off

Yet the sp is somewhat underwhelmed to say the least.

Preliminary Results

- Profit growth in all trading segments
- Operating cash flow up 13% to £182.8 million
- Leverage reduced 0.3x to 4.8x, fixed charge cover up 0.1x to 2.6x
- Return on capital up 0.1% to 10.9%

· Transformed pub estate generating growth opportunities:
- Average profit per pub up 8% in 2016, up around 50% since 2012
- 22 new pubs and bars completed this year, creating around 1,000 jobs
- Six lodges opened, taking estate to over 950 rooms
- Like-for-like sales up 2.3% in Destination and Premium, up 2.7% in Taverns
- Leased average profit per pub up 3%

· Local strategy and innovation creating growth in Brewing:
- Strong brand portfolio continues to outperform market with volumes up 13%
- Increased market share to 27% of premium bottled ale and 20% of premium cask ale markets
- Thwaites' beer business fully integrated and achieving targets

· Final dividend up 4.4% to 4.7p. Dividend cover up 0.1x to 1.9x.

· Well positioned for growth in 2017:
- Encouraging start to new financial year
- Target to open at least 20 new-build pub-restaurants in the coming year, including 3 Revere bars and
5-10 lodges, weighted towards the second half
- Continued focus on premium and craft beer to drive growth, energized branding of Marston's beer
brands and development of DE14 craft micro-brewery

more.....