sueneave9
18 Sep 2019
Raise your glasses! Methinks I should have sold mine too!
Old_Eyes
18 Sep 2019
Raise your glasses! I tried to look up when the sale is likely to go through - any idea? Thanks
paddingtonbear
18 Sep 2019
Raise your glasses! Sorry sueneave9, cannot assist. Sold my shares after recent trading update which was not impressive and made it less likely a higher bid would arrive. Couple of days ago final dividend payment went into account, so have moved on. Best wishes, PB.
sueneave9
18 Sep 2019
Raise your glasses! Any thoughts on the latest developments and the voting choices?
Old_Eyes
20 Aug 2019
Raise your glasses! In fairness Frog, in the last few years GK pubs have moved well away from its roots. Most GK pubs, certainly in London anyway, are little more than a notch up from JD Whetherspoon pubs. Delighted by this news to be honest. I’ve been seriously weighing up selling this stock for sometime. Out of hands now.
frog_in_a_tree
19 Aug 2019
Raise your glasses! Nice to get a 50% premium on today’s sp but, nonetheless sad to see this old brewing brand lose its independence. I see that MARS went up 9% today in hope. Cheers, Frog in in a tree
paddingtonbear
19 Aug 2019
Raise your glasses! RNS today. Takeover offer of 850p cash plus the 24p odd final dividend. Recommended by the Board. If no competing offer comes in, could be done and dusted in a couple of months. Buyers hiding behind tax havens. Oh Games, I am genuinely sorry at this twist of fate. PB.
paddingtonbear
29 Jun 2019
New broom, little change, so far Good afternoon Games. Valid points, but for me relief nothing major attempted to change 4 year programmed investment of 14 down to 4 key brands and building up service ethic/customer and staff, whilst keeping dividend and paying off Spirit debt (another £93 million dealt with yesterday) Lot of staff investment and training, promotion of internal candidates, greater concern to score well with customer experience surveys. Aware of voucher scheme problems although HL sent mine without request, but I was actually commenting on a new reward programme for the staff, granting discounts to their friends and family. Like shareholders, surely a group likely to help turnover with the odd incentive or two, even if profit margin smaller. In summary his two months in charge done nothing obvious to frighten the horses and a positive annual summary not glossing over the challenges being addressed. As for Rooney, perhaps as simple as 14 years in one place was enough. From here it could go either way, but Brexit may drive a lot more people to drink! ATB PB.
Gamesinvestor1
28 Jun 2019
New broom, little change, so far paddy - I think the CEO was frightened to drop the divi for fear of trashing the share price. He did this in the face of another £20M in falling profits. Yes they have paid some of the debt down but with £2bn left on the books is it all as rosey as first thought? Several of the Loch Fyne sites are being shuttered. There are two Greene King pubs locally here and one is invariably empty and has changed hands 4 times in the last 3 years. On the shareholder incentive, they seem to have messed this up. See lots of points raised on this board about it in the last years. The platforms don’t all send on the booklets to the shareholders and the chumps in the Greene King department won’t send them directly. Despite this being a great promotional aspect of their business - your shareholders are likely to be your cheapest and best sales people, they don’t seem to get it despite several letters to the previous CEO, Sales Director and CFO and the department responsible for administering them. Why has Anand stepped down, and it’s not as if he is retiring, given that he is now taking on the role of Chairman at the Casual Dining Group. Games – All might turn out well at GNK, but from the way it’s been run of late I’m not wholly confident.
paddingtonbear
27 Jun 2019
New broom, little change, so far Final results out, another year of incremental improvements as Spirit continues to be digested. Another £89m off total debt, cost of debt overall down as it is moved from Spirit to GK facility or paid off. Still early days, but wholesale revolution avoided as dividend kept at same level by new CEO and hints of reassurance about this. Some areas outperforming competitors and firm grip on expenditures during the year. Rather surprising to me that innovation of staff friends & family discount did not exist previously. The firm is trying to embody a happy working environment, leading to reduced Staff turnover and reaping rewards of in house training for them, customers and the firm. As I write SP up 3.5% in a flat market. So far a solid hold, but a wary eye on any changes ahead. PB.
Gamesinvestor1
25 Jun 2019
Dividend Cut New CEO, new broom, chance to reset the clock and reduce the debt and increase investment. He can only do this by cutting the over generous dividend. [link] Games
NewBill1703
16 Jun 2019
Is there any point in this Gamesinvestor1: I still think, given that market index has fallen inline with GNK, the market offers an equal opportunity to that of GNK, with a higher yield and a lower aggregate debt. Yes Games, I would agree with that as things stand - the UK market is a decent proposition against most benchmarks (history, bonds, other global equity markets).
Gamesinvestor1
16 Jun 2019
Is there any point in this I still think, given that market index has fallen inline with GNK, the market offers an equal opportunity to that of GNK, with a higher yield and a lower aggregate debt. Games
NewBill1703
16 Jun 2019
Is there any point in this frog_in_a_tree: I gather that there is some debt lurking in the background but other than this it is 25% down over the last couple of years and presents with a yield of 5% and a p/ of 10. It looks a reasonable bet to me, weather permitting of course! Indeed, FIAT - the main thing going against it being it is a cheap stock in a market which is just not interested in cheap stocks, and so cheap stocks merely get cheaper. The only other frog in the ointment is that, as cheap stocks go - in the UK market these days - it isn’t that cheap. There was a time when a P/E of 10x and 5% yield would act as some kind of floor, but now you need to show a P/E of 5x and yield of 10% before people take notice. And maybe not even then… But on any long-term view - yes, a far from unreasonable bet. For those that truly have a long-term perspective - and don’t just like to think they have!
frog_in_a_tree
16 Jun 2019
Is there any point in this From what I can see GNK is a company with fine products and very well run pub restaurants. I don’t see it going belly up any time soon. I gather that there is some debt lurking in the background but other than this it is 25% down over the last couple of years and presents with a yield of 5% and a p/ of 10. It looks a reasonable bet to me, weather permitting of course! Cheers, Frog in a tree
