Look at it!

Punch Taverns are presenting in London this Thursday evening!

For the details please see below, I have copied form another site.

---------------------


The Capital Pub Company will be presenting in London on the 31st January, at the Chesterfield Hotel, Charles Street, Mayfair.

Attendance is FREE.

There is a refreshment and networking event afterwards, where you can meet management and other private investors, and canap and complimentary drinks are served.

The nearest tube station is Green Park, which is a short 5 minute walk, and a little further away is Bond Street, on the Central Line.

Registration is free, and you can register by clicking the link below;

http://www.proactiveinvestors.co.uk/eventregistration.php

Now that PUB has received approval to convert to REITS, maybe this sector will get a bit of a boost. Although I think it's unrealistic at the moment, I see a broker has given this a target price of 1600p, though there is no specified timescale!
Definitely one to put on the watch list, imo, as this may see a turnaround over the next 12 months.

Any views on this after it's latest rns ?

Some of the bits don't inspire me, such as weak, decline & down!

"The UK pubs group said its trading into the second half of the financial year has continued broadly in line with the second quarter, albeit trading during the Easter period was weak compared to the prior year due to the comparatively early timing of Easter this year.

Consequently, like-for-like trading for the year to date has declined with leased contribution down 3.4 percent, whilst like-for-like sales in the core managed estate declined by 3.6 percent, it said."

Am still watching but the chart trend is still down & not worth catching the falling knife, imo.

Thanks, I would agree with your thoughts, definitely on the watch list but it still being in an area which is still consumerr driven, maybe worth a punt after the summer update. However what a fall from 15 to 3.20 ish !!!

Punch Taverns plc (the 'Company')
11 July 2008


TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES


Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:


Punch Taverns plc


Reason for the notification (please tick the appropriate box or boxes)


An acquisition or disposal of voting rights:


X

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached:



An event changing the breakdown of voting rights:



Other (please specify):




Full name of person(s) subject to the notification obligation:


The Goldman Sachs Group, Inc.


Full name of shareholder(s) (if different from 3):


Goldman, Sachs & Co.

Goldman Sachs International,

Goldman Sachs Asset Management, L.P.,

Goldman Sachs Bank AG


Date of the transaction (and date on which the threshold if crossed or reached if different):


8 July 2008


Date on which issuer notified:


11 July 2008


Threshold(s) that is/are crossed or reached:


19%


Notified details:


A: Voting rights attached to shares


Class/type of shares if possible using the ISIN CODE


Situation previous to the triggering transaction

Number of shares


Number of voting rights

GB0031552861


49,103,889


18.44%


Resulting situation after the triggering transaction

Number of shares


Number of voting rights


% of voting rights

Direct


Direct


Indirect


Direct


Indirect




18,524,396


34,377,252


6.95%


12.90%

Smoking ban sends Punch Taverns reeling


Punch Taverns, Britains largest pub company, announced a 24 per cent decline in first-half profits as the smoking ban and a crash in consumer confidence kept drinkers at home.

The operator of 8,400 leased, tenanted and managed pubs said that like-for-like sales for its leased businesses were down by 2 per cent, with like-for-like sales of the core managed estate declining by 2.8 per cent.

Interim results showed that profits of 133 million, a 1 per cent increase since last year, were reduced by a 19.2 million loss on interest-rate swaps and a one-off redundancy charge of 5 million.

Punch said that the results reflected challenging market conditions pointing to falling consumer confidence.

It said that recent rises in household expenditure such as increases in food and fuel duty, and rising pressures on mortgage repayments, had impacted on the disposable income of its customers.

Punch also said that its profits had been hit by the smoking ban implemented in 2006, which had reduced beer sales over the winter months.

A MUST TO BUY AT 150P

Why ?

in order to get stopped out at the current price? :)

66p...quite amazing.

In auction again down 17.5%

Huge amount of debt; flawed business model; the words barge and pole spring to mind.

keep selling to 30p imo.

have had a buy order in at just under 30p for a little while now ;-0 - won't be long

Going bust. Don't touch.

you short then?

I've changed my mind..5p.

Shares Mag tips them as a recovery stock if interest rates continue to fall. The theory is that their debts will become easier to finance. Of course, that is assuming they don't go bust!