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)

Ex. divi drop today so great time to add which I've done.

Even cheaper now 118.80p.

The Capital Group Companies >3%

Joined you today skinny @ 121.2

AGM on the 22nd January.

3+ year high @130p ealier.

Finished up 130.8p. now out with the divi and SP. covered. Good luck all.

Up to 134p+ What a cracker!

Good to see you well Stan, sorry Frank. '' Its a cracker'' :-))

That's me out the spreads for now @ 134.2 + 13.

AGM and Interim Management Statement

Trading
We were encouraged by our trading performance during the Christmas and New Year period. Profitability is in line with our expectations and we continue to make good progress in each of our trading segments despite the broader economic challenges.

In our managed pubs, despite the significant impact of snow in the week ended 19 January, like-for-like sales for the 16 week period to 19 January were 1.2% ahead of last year. Like-for-like sales for the 15 week period to 12 January were 2.1% ahead of last year, including like-for-like food sales growth of 3.5% and like-for-like wet sales growth of 1.0%. Like-for-like sales in the 7 weeks to 12 January were up 2.2%, against growth of 8.0% in the same period last year. Trading over the festive period was strong including growth of 5.8% in the key three week trading period to 5 January and 10.0% on Christmas Day. Operating margins are slightly ahead of last year and our plans for building new pub-restaurants in the current financial year remain on track.

In our tenanted and franchised pubs, profits continue to grow. Profits for the 16 week period are estimated to be around 2% above last year reflecting the continuing success of our franchise model, now operating in around 550 pubs, and stability in the traditional tenanted estate.

In brewing, profits are in line with our expectations. Our brand performance has been very strong and ahead of the market, with own-brewed beer volumes 5% above last year driven by significant growth in the off-trade.

Net debt and cash flow are in line with our expectations.

We will announce our Interim Results for the 26 weeks to 30 March 2013 on 16 May 2013.

Peel Hunt Limited Buy 133.20p 145.00p 145.00p Reiteration

Liberum Capital Hold 133.20p 137.00p 137.00p Reiteration

Jefferies Buy 133.20p 150.00p 150.00p Reiteration

Stick in skinny, I was expecting the usual knee jerk profit taking to get back in on the spreads. Not happened so far :O( so good call.

Cheers Chris - I can't really see much downside here (famous last words).

It's the "way I tell 'em" DC -):

Keep in there boys.

Quietly making new highs today @137.7.

They are indeed.. Have one on me -):

It's a good Pedigree!

Boom boom!

I'm feeling a little bitter that I don't hold any of these! :o)

Me too.. And that's putting it Mildly -):