Look at it!

Indeed S nice one.
Anything else in this sector you fancy?
Regards
M

Punch Taverns PLC
29 March 2004

Punch Taverns plc

Notification of results



Punch Taverns plc will be announcing interim results on 29 April 2004.


29 March 2004



Enquiries:

College Hill
Matthew Smallwood 020 7457 2020

Good luck fish paste :-)

Well it has broken out again! Expect a rather good day today!

Hell of a lot better than JDW!

Well the market as a whole was well down today. This is a serious hold folks!

PUB has been pretty impressive over the last few days considering the market in general and the downbeat news from others in the sector.
Still looking for an entry point though!
d.

Sardine:

See also the thread in The Investors' Room

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=3066

Cheers

MM

Oriel note had an effect on a bad day, watching....

Sardine::-)


Highlights



Group turnover up 49% to 638 million (2003: 429 million)

- existing Punch estate like for like turnover up 2.9%


Profit before tax (pre exceptional items) up 38% to 156 million
(2003: 113 million)

- existing Punch estate like for like profit per pub up 3.9%


Adjusted earnings per share (pre exceptional items) up 24% to 48.8p
(2003: 39.3p)


Excellent result driven by:

- organic growth - existing Punch estate average EBITDA per pub
up 8.7%


- acquisition of Pubmaster plus 80 individual pubs


Proposed final dividend of 6.1p, bringing the total dividend for the
year to 9.0p, representing an increase of 38% (2003: 6.5p)


Continued investment in estate: 46 million including 580
developments


Completed integration of Pubmaster, the third largest UK pub group,
adding 3,115 further leased and tenanted outlets to the enlarged
Group. Immediately earnings enhancing and on target to exceed 10
million pa estimated synergies


Post year end, acquisition of InnSpired for 335 million, adding a
further 1,064 pubs to the Group


Trading in the current year is in line with expectations

Just popped in to say "I told you so". I also remember doing the same at a dinner we had near Oxford a couple of years back when the share price was 203p. Just goes to prove that you can get to close to the market. Prehaps a better stategy is to select a stock with a really good revenue model and then walk away. GNK and ETI are also of the same sound achievers.

Sardine; Remember you saying this. By the way the "Judge's" son Ciaran O'Sullivan has been working for us :-)

Good to hear from you. Please give the Irish one my kindest regards.

Will do, he says he used to take all his birds to The Ship on their first dates , good spot to chat them up! He has told me all about the dolphin swimming in the bay, must be good for the tourist and drinkers

drop us an email sometime for that beer mike@moneyam.com

Hiya Sardine.

Glad you're still making money on these. :)

Sardine - u working at Numis now?

1434 GMT [Dow Jones] Numis Securities selects Punch Taverns (PUB.LN) as its top travel and leisure pick for '07, arguing that "the market undervalues the UK's largest pub company despite a 21% increase in share price since the beginning of November." After accounting for the Spirit acquisition, the bank ups its target price to 1572p from 1310p and reiterates buy rating. Also ups target for Whitbread (WTB.LN), last year's top sector pick, to 1876p from 1780p and retains add recommendation. Punch shares -0.6% at 1,270p, Whitbread +0.3% at 1,694p. (BBL)


Contact us in London. +44-20-7842-9464
Markettalk.eu@dowjones.com

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.