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)

Board Appointment


Marston's PLC is pleased to announce the appointment of Matthew Roberts to the Board as a Non-Executive Director, with effect from 1 March 2017. He will also be a member of the Audit Committee.

Matthew brings with him significant experience of both the property and multisite consumer retail and leisure sectors. He is currently Chief Financial Officer of Intu Properties plc (previously Capital Shopping Centres plc), a FTSE100 listed business.

Prior to this, Matthew was Chief Financial officer of Gala Coral Group Ltd from 2004 to 2008.

He held a number of senior roles with The Burton Group from 1989 to 1998, spanning group finance, corporate development and IT, during which time he lead the demerger of Debenhams in 1998. He was Finance Director of Debenhams from 1996 to 2003.

Matthew is a qualified Chartered Accountant (FCA), having trained with Coopers & Lybrand from 1985 to 1989, where he worked across corporate finance, audit and business service departments before moving into retail.

There are no further details required to be disclosed under LR 9.6.13 of the FCA Handbook.

XD 4.7p on thursday.

Royal Asset sell a few http://www.moneyam.com/action/news/showArticle?id=5482523

AGM TRADING UPDATE


Marston's PLC issues the following Trading Update for the 16 week period to 21 January 2017 in advance of the Company's Annual General Meeting to be held at noon today.

Trading
Our performance in the financial year to date has been encouraging, including good trading over the Christmas and New Year period despite tough comparatives.

In Destination and Premium, like-for-like sales were 1.5% ahead of last year including like-for-like food sales growth of 0.6%, wet like-for-like sales growth of 1.4% and strong growth in room income. Importantly, operating margins are in line with last year. Our plans to open at least 20 new pub-restaurants and bars and five lodges in the current financial year are on track.

In Taverns, managed and franchise pub like-for-like sales were 1.5% ahead of last year.

In Leased, profits are estimated to be around 2% ahead of last year.

In Brewing, our strong brand portfolio has performed well with own-brewed volume up 3% in the year to date and operating margins slightly ahead of last year.

Since it is still early in the financial year our expectations for the full year are unchanged. We will announce our Interim Results for the 26 weeks to 1 April 2017 on 17 May 2017.

Ralph Findlay, Chief Executive, commented:
"We traded well over the Christmas period with like-for-like sales growth for the fifth successive year despite tough comparatives. In Brewing, we have continued to outperform and once again have achieved good growth with a particularly strong performance in the off-trade."

Looks like a solid update to me from this well run Company.

Agree Stan, wouldn't surprise me if the results turn out to be better than expected.
2517

Indeed George, time will tell.

Swines!

02 Feb Barclays Capital Underweight 133.65 140.00 130.00 Retains

Absolute cads!

I'll drink to that.

Dimensional Fund advices add.

Peel Hunt Buy 135.20 - 150.00 Initiates/Starts

Berenberg Buy 134.05 - 170.00 Initiates/Starts

Interim results 18th May, looking for continued growth following on from the November finals.

Peel Hunt Add 145.25 150.00 160.00 Downgrades

Figures due tomorrow hope they are better than M&B which are out today

I doubt it very much, M&B have been a useless outfit as long as I've been share shifting.

I don't hold M&B and I've not followed them at all Stan. MARS will have some similarities to M&B re pricing/cost pressures, just have to wait until tomorrow.

Agreed George but in Findlayson (?spelling) MARS have a smart cooky IMHO.

Interim Results

· Revenue and earnings growth despite late Easter

- Revenue and earnings growth despite Easter falling later this year in second half
§ Easter impact on profit before tax estimated at £1.5 million
- Statutory profit before tax up 61% reflecting positive movement in valuation of swaps
- Leverage maintained at 5.0x, fixed charge cover improved to 2.6x

· Improving quality of pub estate
- Average profit per pub up 3% in first half year
- Four pubs and bars opened
- Three lodges opened, taking estate to over 1,000 rooms

· Market-leading beer business continues to demonstrate growth
- Strong brand portfolio continues to outperform market
- Further market share growth, with 26% share of premium bottled ale and 19% share of premium cask ale

· Interim dividend up 3.8% to 2.7p per share


· Acquisition of Charles Wells Brewing and Beer Business for £55 million (see separate
announcement)
- Transaction to be funded from the proceeds of an equity placing to raise 9.9% of issued
share capital announced today (see separate announcement)

· Current trading (for 30 weeks incorporating Easter) remains encouraging

- Destination and Premium like-for-like sales up 1.6%; operating margins in line with last year
- Taverns like-for-like sales up 1.7%; Leased like-for-like profits up 2%
- Own-brewed beer volumes up 2%
- On track to open 23 pubs and bars and 8 lodges in current financial year
- Acquisition of three Pointing Dog Premium pubs in May and agreement to purchase seven Destination and Premium pubs

Commenting, Ralph Findlay, CEO said:


"Marston's has been transformed over the last 10 years by the consistent implementation of our established strategy. In that time, we have built around 200 pubs on new sites representing 60% of the Destination estate today, and we have developed a leading premium pubs and bars business. The Taverns estate has been repositioned, having sold around 1,000 pubs and introduced pioneering franchise-style agreements designed for community pubs. In Brewing, we lead the premium ale market and benefit from a growing contribution from craft beers and international licensed brands, including premium European lager brands.

"Our market position will be enhanced by the acquisition of Charles Wells Brewing and Beer Business and we remain confident our strategy will continue to create value for shareholders."