Gamesinvestor1
22 Jul 2018
Long period of static share price Seems like a very long time now that Fullers has experienced it’s stock oscillating around the 9xx area. Is there a case for a rise? Any comments? Games
gamesinvestor
08 Jun 2018
Re: Disposals "Does anyone know which pubs no longer fitted?"I suspect it's any pub that doesn't get enough foot traffic, irrespective of the familiarity of the layout.I'm guessing they are only interested in those locations that are more recession proof.At least the divi is up 4%Games
JoseFrio
05 Jun 2018
Boring What a boring share, never moves much. With the recent good weather, I'm sure the pubs are doing just great. And Fuller's beers seem to be taking up more and more shelf space in my local supermarkets. Don't suppose the next set of results will be anything other than boringly ok though. Worth holding for the Inndulgence card, though the dividend could be higher.
Lagav16
27 May 2018
Disposals The latest results make reference to the disposal of 20 pubs 'that don't fit the Fullers' portfolio.'This puzzles me as all the Fullers' pubs I've used in London (the Inndulgence card has to be used, after all) have seemed very much of a muchness, in terms of beer and food range/quality and general feel of the pub - essentially traditional pub, at the higher end of the price/quality spectrum.Does anyone know which pubs no longer fitted?
gamesinvestor
25 Jan 2018
Trading Statement [link] OK - no shocks and a pretty solid, if not above inflationary performance.Games
In the dark yet again
05 Jan 2018
Re: Respectable performance Well I'm sitting tight with my Fullers but considering taking some Young's as well rather than top up here. Does anyone here also have Young's and if so, the As or the Non-Voting? I've been on the Young's page but info is limited so just trying to widen the net.Sorry it's a bit O/T but info is in short supply, not even any on the Young's investors web pages.Regards,ITDYA
gamesinvestor
24 Nov 2017
Respectable performance despite the governments eediotic business rate persistence and the disasterous training levy, Fullers performed pretty well :-Managed Pubs and Hotels like for like sales up by 3.7% for 33 weeks· Tenanted Inns like for like profit rose 2% for 33 weeks· Total beer and cider volumes increased 1% for 33 weeks· Acquired The Manor near Christchurch, a freehold pub with 10 bedrooms· Two new sites in key transport locations - Euston (The Signal Box) and Liverpool Street (The Parcel Office) - due to open in 2018· Continued focus on investing in our people, our brands and our estate to deliver our strategic vision· Well-invested, balanced business well-placed to mitigate continued headwinds[link] -- the stock will probably get hammered like everything else of late. Sticking with this one at 1% of my wad
gamesinvestor
31 Aug 2017
Re: Fullers Valuation Jose - I know what you are saying, I too see these pubs packed when I visit London.However, from today's valuation It's hard to see a return in what is looking like a stretched market and seemingly one shock away from a correction.Long term I'm sure your right, but at a P/E 16 it looks like the next 2 years is priced in/Games
JoseFrio
31 Aug 2017
Re: Fullers Valuation Games, you're right in thinking that holding the shares doesn't make sense based on price performance and yield. Since I live in West London I am always whipping out my Inndulgence shareholder discount card, and the money saved effectively adds on an extra 1-2% on the yield on my modest holding. I have no plans to sell because, apart from liking the beer, most times I am in a Fuller's establishment it seems to be busy and well run, with decent food and lots of promotions and events to keep the punters coming back. The range of beers is growing too. And their bottled drinks seem to be stocked more in off-licenses and supermarkets than used to be the case. And the estate is growing too, with some large and shrewd new openings (e.g. One Over the Ait).The company must be coining it no matter what the accounts say. At some point this will come back to the shareholders, especially with so many of them being family. At least that's what I tell myself.
gamesinvestor
31 Aug 2017
Fullers Valuation Hi -- Looking at Fuller's valuation, and I'm sure many of you know this, there are some things to consider :-"""Fuller, Smith & Turner, for example, has 32.36m shares on the London stock exchange, currently priced at 1,030p. This would give us a “P” for our P/B calculation of £333.3m, with the “B” being last reported net assets of £277.7m: so, a P/B of 1.2 — which looks very attractive relative to a peer such as Greene King on a P/B of 1.8.However, Fullers has two classes of unlisted shares, which bring the total number of shares to 55.66m, making the “P” £573.3m and the true P/B a rather less attractive 2.1.""This came from this article dated back in March 2015 --- that's one and a half years ago.Back then the shares changed hands at 1030 --- today they are at 1010[link] we are holding a pretty undervalued share here or it was overvalued at the time the article was written.Back in March 2015, the Revenue was £321M and the Pre-Tax Profit was £36.1M and earnings were (EPS) were sitiing at 103p (an anomaly here since it was 46p the years before and 58p the year after).Consequently in March 2015 the P/E was sitting at just 9.9At the end of March 2017 -- The Revenue was £392M and Pre Tax Profit was £39.9M -- a rise of 22% and 10.5% respectively BUT -- the P/E today is 16.2 --- a jump in valuation of 63% --- so are we overvalued to a large extent and this maybe explains the stagnation in the stock price here.FSTA on such a modest yield has turned out to be a pretty poor investment in the last 2.5 years and I'm wondering were it might be in another 2.5 years, given the P/E has already expanded by 63% in the last period.Granted there is an anomaly in the EPS for that one year, which I can't explain, because I haven't bothered to check.Games --- Not sure I should be holding this stock on a 2% yield, which is currently below the inflation rate -- I'm a holder since November 2016 -- so I've already wasted 9 months holding this one. --- Unless of course some have good counter arguments here -- Nick Train seems to like it -- but then again he still hangs on to Pearson in his Finsbury Growth Trust
gamesinvestor
15 Aug 2017
Free Float Just doing an analysis between De La Rue and FSTA, as I'm considering switching out of DLAR and adding the proiceeds, or some of them to FSTA.The companies don't compare in many respects at all of course, one's an alcoholic and the other supports quantitive easing, but one area of disparity is quite stark.FSTA has 32.33M shares outstanding.Of this, only 2.83M are in Free Float and the rest I assume locked into family, directors and non execs pockets. Also the average daily volume is around 3.23K share -- peanuts really.DLAR is markedly different with 101.9M shares issued of which 101.7M (almost all) are in Free Float.The average daily volume 119.4KInteresting stats (well for me anyhow) about how tightly held FSTA's stock really is -- they are in it for the loooong term I assume -- unless !!!!Games
gamesinvestor
02 Aug 2017
Director Sales Not checked anything, just saw this lot :-27-Jul-17 Fuller Smith & Turner FSTA Emeny,Simon 7,200 @ 10.35p £74,520.0027-Jul-17 Fuller Smith & Turner FSTA Douglas,James 15,001 @ 10.35p £155,260.3627-Jul-17 Fuller Smith & Turner FSTA Fuller,Richard 5,033 @ 10.35p £52,091.5527-Jul-17 Fuller Smith & Turner FSTA Swaine,Jonathon 8,053 @ 10.35p £83,348.5527-Jul-17 Fuller Smith & Turner FSTA Emeny,Simon 20,682 @ 10.35p £214,058.7127-Jul-17 Fuller Smith & Turner FSTA Douglas,James 9,532 @ 10.35p £98,656.2027-Jul-17 Fuller Smith & Turner FSTA Fuller,Richard 6,867 @ 10.35p £71,073.45Games
gamesinvestor
31 Jul 2017
Fullers Pubs Went in the Hydrant, near Monument and The Banker on Friday.Both pubs were absolutely packed out and on to the street.They must have been pulling in a fortune.Had a pint of Pride in each -- very nice indeed.Games - Just need the stock price to pull in a fortune to go with it!!
LK Hyman
21 Jul 2017
Re: Down 7.93%? Games,There's no trading volume to speak of. I'm totally chillaxed; there's always a big spread on this puppy.It'll all turn out fine in the end.LKH on the flybridge famous last words
JoseFrio
21 Jul 2017
Re: Down 7.93%? My local Fullers - both enormous pubs - have been doing a roaring trade this summer. I doubt there's any news. Just one of those things. I was sure FST was about to break out - upwards - of the 950-1100 range it's been stuck in for years. It was not to be. Oh well.
