PIE-EATER
25 Jan 2018
Re: Trading update for the 16 week perio...Tower Towermanregretfully, i think in MARS case it is a vanity or ego trip. For Eons MARS have been accumulating breweries and real ale "brands".....all for what? The lowest profit margins in the group.I accept that when Charles Wells is integrated the margins will head back towards the previous years, but this is still half the next lowest return . Still can't see the logic in investing in the division with the lowest return.
PIE-EATER
25 Jan 2018
(FSA) investigation into meat supplier Russell Hume. Two pub groups have admitted to using a supplier under investigation for food hygiene standards, after Wetherspoon did so yesterday.Marston's and Greene King said that Russell Hume supplied some products to their sites. Both have stopped serving the meat.Just FYI...........PE
mexicoman
25 Jan 2018
Re: Trading update for the 16 week perio... Seen 2 artics pulling fosters larger tanckers 33000 ltrs with marstons units this week
towerman
25 Jan 2018
Re: Trading update for the 16 week perio... PE, you make some very persuasive points.Makes you question why anyone bothers brewing in the first place?I imagine brewing is a health and safety nightmare (not that it is especially "dangerous", it's just anything involving making stuff is a pain), requiring expensive plant, equipment and buildings, fluctuating and hard to predict raw material costs, product quality issues, sky-high energy costs, environmental/licensing/LA issues and difficulties recruiting, training and retaining the necessary personnel.I wonder if brewing is done purely as a "tradition" or maybe just a vanity trip?
PIE-EATER
25 Jan 2018
Re: Trading update for the 16 week perio... Our Haven" Always good to have an interest in a product as well"ABSOLUTELY !!!However, I am not convinced that it necessarily helps. Just think of how many posts on here go on about Marston's being here there and everywhere....loads of lorries on the roads etc etc. If we get too attached to the product it is very easy to lose sight of the investment. If I buy more or sell out, it won't change how much beer I buy or where I drink it. MARS is a separate agenda from my drinking habits.The product is EXCELLENT.....as is the potential (that's why I am a shareholder....still) but we shouldn't lose sight of the fact that brewing provided less than a quarter of revenue and less than one eighth of profits yet it seems to occupy nine tenths of peoples perceptions of how well MARS is doing. That is a frustration.PE
Our Haven
25 Jan 2018
Re: Trading update for the 16 week perio... Pie-Eater. Always good to have an interest in a product as well as the figures, I find it helps.
PIE-EATER
25 Jan 2018
Re: Trading update for the 16 week perio... I DO wish people would take note of the company figures.....there seems to be aching about noting there were lots of Marstons beers available.In the last FY.....Brewing turnover increased in round figures from £193m to £253m a rise of nearly 31% yet profits rose from £23.2 to £25.5m (just under 10%) and margin FELL 1.9% and is less than half the margin on the next lowest division.The number of people on this board who believe that MARS is all about brewing and the profits from it is very disappointing....it is the least profitable of the 4 groups. Perhaps this is why MARS is not shooting the lights out....we expand our wet capability and reduce the margin! Great business sense.PE
Our Haven
25 Jan 2018
Re: Trading update for the 16 week perio... Think we all agree but I too have not heard of grumblings on this topic. About the weather, surely with the new outlets from the Charles Wells brands being more southerly it should have offset the Northern downturn due to weather. I went to a racecourse just before Christmas and I was impressed by all the range Marston’s now have to offer. I knew it of course but seeing this brings it home.
dregor
25 Jan 2018
Re: Trading update for the 16 week perio... I understand where you are coming from, Pie-Eater and as a relatively new investor in Marston's My holding is somewhat underwater.I invested with an eye on the dividend income, but have been underwhelmed by the SP performance.Ralph has been a board member since 1996 and by doing a minimum of research, it appears he has been very well remunerated along the way. No problem with that as long as us investors are rewarded as well. Don't think we are and whilst it is a tough time for the sector, I do believe an injection of fresh blood to the board may be required to move this company away from its apparent sloth. I am a tad surprised there have been no public rumblings of discontent....unless Ihave missed something.Competent yes, but I think we deserve more.
PIE-EATER
24 Jan 2018
Re: Trading update for the 16 week perio... Our Haven,I am not stipulating any specific name....what I want is for the BoD, and RF in particular (or a replacement if he can't) to actually provide some enthusiasm, drive and get up and go. When I see his comments all I get is a "more or the same" feeling, it'll be alright in the end scenario....as I have previously commented. He does not strike me as someone who is "driven", but rather, "competent?" When did he REALLY last enthuse you? (If it was recently then with due respect you are more easily enthused than me )When you look at successful companies you generally see a motivator at or near the top, someone who can bring about change.Luke Johnson at Patisserie Valerie amongst other directorates and Carolyn McCall at ITV who are reasonable examples (though don't necessarily have the relevant experience for MARS and probably wouldn't even look at MARS) The point is, I just don't want this company to drift or go through the motions when it has such potential. There is very little in normal life (beyond the obvious of human suffering etc)that frustrates me more than wasting potential .PE
Our Haven
24 Jan 2018
Re: Trading update for the 16 week perio... Interesting thoughts Pie Eater. Who from the industry do you want to drive it? Ps Price almost back where it was so I for one was happy, at least today to take the opportunity to top up.
PIE-EATER
24 Jan 2018
Re: response not being posted had to replace "CATS" foot around with amble through it!
PIE-EATER
24 Jan 2018
Re: Trading update for the 16 week perio... Thruxie...I did phrase it specifically to say SP and not TR......If you are drawing that income and not re-investing in a decreasing SP, what is the benefit? At some point the question of re-basing the dividend appears, and in MARS case, the confirmation of said dividend was the reason for the rally in the price recently.If I was going to base it on TR then, for example another of my holdings - YNGA - only yields about 1.3% but over the same period has returned DOUBLE what MARS has, and has the added benefit of potential BPR at 40%Even if you did re-invest in MARS as you suggest, the figures still don't stack up in MARS favour. It will probably take those few more years you quote before you have the chance to cash in with MARS and be up unless there is a shake up at the top of MARS. IMHO, the potential and even the plan are there at MARS, which is why I have held on for so long, we just need someone to DRIVE it, and I do mean DRIVE, not amble through it.PE
PIE-EATER
24 Jan 2018
response not being posted apologies if there are numerous copies of one posting.....just not registering.Not sure if its me or II
thruxie
24 Jan 2018
Re: Trading update for the 16 week perio... "Lets not forget that in addition to the SP loss since 2012 in my case,"It's some comfort at times to add up the dividends received. and with compound interest you'll find you're up. I really don't care too much if the share price stays lower if it means I can reinvest dividends at a sale price. Of course at some point I'll want them up - just before I cash in, but fingers crossed a few more years.
