Triggers broom
24 May 2018
Long live the pub Cracking set of results. Chapeau to the board.Another highly successful year, despite a challenging market backdrop, with total revenue up 6.2% to £279.3m;• Managed house operations outperformed the sector once again with revenues up 6.9% to £266.4 million, underpinned by industry-leading like-for-like sales growth of 4.2%;• Like-for-like revenues at the Ram Pub Company up 1.6%;• Continued investment in future growth - £53.0m of investment made during the year through acquisitions and upgrades to our existing estate;• Highly cash generative, with operating cash flow of £61.4 million - net debt to adjusted EBITDA ratio is one of the lowest in the sector at 2.0;• 21st consecutive year of dividend growth with a proposed 6.0% increase in final dividend to 10.20 pence, resulting in a total dividend of 19.61 pence (2017: 18.50 pence);• Good start to the current financial year since the period end; managed house revenue in the first seven weeks was up 11.0% in total and up 7.5% on a like-for-like basis, despite very strong comparatives.Cheers,
Chicken Lips
29 Mar 2018
Racey What a happening after being a solid holding in the portfolio. YOungs seems to becoming a more racey stock. I didn't see this rise toward £15.50. Any views? Just the realisation of this quality company and stock?
Chicken Lips
07 Feb 2018
Re: Sell off, what sell off? Well I sold down some of my holding last week as general momentum was south an d my thoughts were spending slowing, poor January in catering restaurant trade generally. So it's risen. Will let you know when I trade down again - nothing in the news and can't be many shares that rose last week/few days. Amazing.
PIE-EATER
07 Feb 2018
Re: Sell off, what sell off? YOUNGS....=....RONSEALDoes what it says.......compare it to MARs (munter)PE
Triggers broom
07 Feb 2018
Sell off, what sell off? Despite the carnage of the last few days Youngs has defied the sell off Monday and Tuesday and soared to a new high today. I can't see any news that may account for it unless their pubs have been swamped in the City by brokers and the like drowning their sorrows.A welcome change in my PF which has been slaughtered for about 10% in the last few weeks.Cheers, literally
In the dark yet again
05 Jan 2018
Re: A vs N Thanks TX2, basically what I thought but always good to have it confirmed.Regards,ITDYA
TX2
05 Jan 2018
Re: A vs N The N shares rank equally in all respects to the A shares other than for the fact that they cannot vote at AGMs etc.In other words they get the same dividend,capital distributions should the company decide to return capital to shareholders the same amount has to be returned to both classes and in the event of the liquidation of the company both classes of share rank equally. The company cannot decide to cancel either category of shares at a price of its own choice and enforce its will.Like all companies it can with permission from shareholders and within market rules buy back shares in the market and then cancel them but shareholders do not have to sell.The advantage of the N non voting shares is that they are cheaper and enjoy a pro rata higher dividend.The disadvantage is in the event of a takeover the non voters might attract a lower bid;but anyone wishing to buy the company would need to buy the non voters otherwise they would not fully own the company and to be candid a takeover is very unlikely as I doubt the family would sell.When I bought the non voting shares some years ago I paid about 33.3% less per share than for the voters but this discount has now closed so their attractions yield wise has lessened.Basically you pays your money and takes your choice!
PIE-EATER
05 Jan 2018
Re: A vs N mmmm but at least YNGA has BPR potential. That is why it is a component of a subset of our ISAs.....
Triggers broom
05 Jan 2018
Re: A vs N ITDYA,I'm holding A's and for some reason I recall having had an issue with HSDL trying to purchase Ns which I'd originally plumped for. However, I've just checked and they are now quoting YNGN so maybe I just timed it wrong. Anyway I ended up with A's and they've occupied the Y slot in my ISA ever since May16. Not exactly the most exciting share to own but steady - up 10% in just over 18 months. With hindsight I should have gone for the other Y option (YouGov) which has outperformed YNGA ever since but some you win, some you win a bit less. Could be worse.
In the dark yet again
05 Jan 2018
Re: A vs N Thanks guys. Does anyone know from where I can get more details? - precious little on the Young's website and the latest annual report doesn't even mention them.From a historical perspective the dividends seem to match and the long-term performance (5 years+) seem in line albeit with fluctuations here and there. Looking a the TVRs it's saying 29.7m As and 19.16m NV, all the movement being in the As so I'm assuming(?) any share options the execs are taking are in the As - understandable.Downside to the NVs seem to be limited to no voting rights and less liquidity both in terms of lower volume and wider spread. Given I'm a small private investor my votes wouldn't count for much even if I could use them effectively (not always so easy when the shares are in a nominee). Upside being they cost less for the same dividends. As for what happens in the event of a Rights Issue (God forbid) or some other 'major' corporate event I can find nothing.Given I'm a 'buy and hold' guy rather than active trader I minded to lift the NVs.Which class of shares do you guys hold?Regards,ITDYA
PIE-EATER
03 Jan 2018
Re: A vs N Think it's very much a choice of growth (slightly leveraged effect given lower SP) vs divis.It may be naive of me but I suspect it may be easier to cancel the NVs (which may be at a time I don't want them cancelling) and I prefer to see a divi trail.GLAPE
off the lip 2010
03 Jan 2018
Re: A vs N There are still 2 classes of shares the ticker is yngn. What the advantages are i don't know
In the dark yet again
03 Jan 2018
A vs N This maybe a stupid question but I can't find any details anywhere.Years ago Youngs had 2 classes of shares, the As and some non-voting ones. The NVs were priced lower but obviously have no votes attached albeit same dividends etc. It enabled the family to keep control while still being able to tap the market for equity.I can't find anything that says it's changed but nor can I find any info on the NVs. Does anyone know where we stand at the moment? If there are still two classes out there can anyone point me in the direction of any pros/cons arguments regarding relative benefits/negatives - I can have a decent guess but guessing is not something I do when considering an investment.Regards,ITDYA, very much in the dark on this one.
PIE-EATER
17 Nov 2017
Re: Results A steady Eddie....Perhaps our friend Ralph F over at Marstons should take a look at operating practices!PE (holds both...but why?????)
TX2
16 Nov 2017
Results We continue to make above inflation increases in business & find additional opportunities for the future.Only the fact that our share price probably reflects the company's success prevents me from putting a buy opinion!
