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Marston's PLC

MARS.L

Latest Trade

46.56GBp

Change

2.70(+6.16%)

Volume

6,653,384

Today's Range

41.50

 - 

46.90

52 Week Range

18.40

 - 

133.80

As of on the London Stock Exchange (LON) ∙ Minimum 15 minute delay

Latest Developments

UK's CMA Invites Comments On proposed Carlsberg UK, Marston's JV

Aug 19 (Reuters) - :COMPETITION AND MKTS - MERGER UPDATE: CARLSBERG/MARSTON'S.UK'S CMA LOOKS INTO PROPOSED JOINT VENTURE BETWEEN CARLSBERG UK HOLDINGS LIMITED AND MARSTON'S PLC.UK'S CMA INVITES COMMENTS ON TRANSACTION FROM ANY INTERESTED PARTY BY SEPT. 2.

Marston's Says Carlsberg Deal To Close Slightly Later Than Expected

July 23 (Reuters) - Marston's PLC <MARS.L>::MARSTON'S - CARLSBERG DEAL COMPLETION IS NOW ANTICIPATED TO TAKE PLACE SLIGHTLY LATER THAN EXPECTED AS CMA COMPLETES ITS REVIEW.MARSTON'S - DO NOT EXPECT THAT TRANSACTION RAISES ANY COMPETITION CONCERNS.

Marston's H1 Underlying Pretax Profit Falls To 9.4 Mln Stg

June 26 (Reuters) - Marston's PLC <MARS.L>::H1 UNDERLYING PRETAX PROFIT 9.4 MILLION STG VERSUS 34.2 MILLION STG YEAR AGO.MARSTON'S - COVID-19 IMPACT ON H1 EARNINGS AND IMPROVEMENT IN CASH FLOW.MARSTON'S - TRANSFORMATIONAL JOINT VENTURE TRANSACTION PROVIDES STRONG PLATFORM FOR POST-PANDEMIC RECOVERY.MARSTON'S - COVID-19 HAD A MATERIAL IMPACT ON REVENUES ESTIMATED AT C£40 MILLION.MARSTON'S - CASH BURN OF £10M PER MONTH IN CLOSURE PERIOD FOLLOWING SWIFT ACTION ON COST REDUCTION.MARSTON'S - HY GROUP GENERATED A LOSS BEFORE TAX OF £33.2 MILLION (2019: £16.3 MILLION PROFIT).MARSTON'S - WOULD BE PRUDENT TO PLAN FOR NO DIVIDENDS TO BE PAID IN RESPECT OF FINANCIAL YEAR 2020.MARSTON'S - HY UNDERLYING REVENUE £510.5M VERSUS £553.1M.MARSTON'S - ENTERED INTO A NEW £70 MILLION FACILITY TO NOVEMBER 2020 TO PROVIDE ADDITIONAL LIQUIDITY DURING COVID-19 LOCKDOWN PERIOD.

Marston's And Carlsberg UK Form JV Partnership

May 22 (Reuters) - Marston's Plc <MARS.L>::MARSTON’S AND CARLSBERG UK FORM JV PARTNERSHIP.MARSTON'S TO RECEIVE 40 PER CENT STAKE IN CMBC AND A CASH EQUALISATION PAYMENT OF UP TO £273 MILLION.CARLSBERG UK TO RECEIVE 60 PER CENT STAKE IN CMBC.MARSTON'S TO RECEIVE 40 PER CENT STAKE IN CMBC AND A CASH EQUALISATION PAYMENT OF UP TO £273 MILLION.CASH EQUALISATION PAYMENT TO MARSTON'S PLC WILL MATERIALLY REDUCE DEBT OUTSIDE SECURITISATION.TRANSACTION IS ANTICIPATED TO COMPLETE IN Q3 OF THIS CALENDAR YEAR.TRANSACTION IS ANTICIPATED TO COMPLETE IN Q3 OF THIS CALENDAR YEAR.DEAL VALUES MARSTON'S BREWING BUSINESS AT UP TO £580 MILLION (13.0X ADJUSTED. 2019 EBITDA) AND CARLSBERG UK BREWING BUSINESS AT £200 MILLION.

Marston's Says Agreed £70 Mln More Liquidity Via Increased Bank Facility

May 14 (Reuters) - Marston's PLC <MARS.L>::MARSTON'S PLC - COVID-19 FINANCING AND DIVIDEND UPDATE.MARSTON'S PLC - HAVE AGREED £70 MILLION OF ADDITIONAL LIQUIDITY THROUGH AN INCREASED BANK FACILITY.MARSTON'S PLC - BOARD MEMBERS HAVE VOLUNTEERED SIGNIFICANT CUTS IN PAY AND FEES FOR TIME BEING.MARSTON'S PLC - REACHED AGREEMENT WITH OUR BANKS TO AMEND COMPANY'S COVENANTS FOR SEPTEMBER 2020 AND MARCH 2021.MARSTON'S PLC - BELIEVES IT IS PRUDENT TO PLAN FOR NO DIVIDENDS FOR FINANCIAL YEAR 2020.MARSTON'S PLC - BELIEVES IT IS PRUDENT TO PLAN FOR NO DIVIDENDS FOR FINANCIAL YEAR 2020.MARSTON'S PLC - FUTURE DIVIDENDS WILL BE REVIEWED WHEN NORMALISED TRADING RESUMES.

Marston's Furloughs Over 13,000 Employees, Cancels Interim Dividend

May 7 (Reuters) - Marston's PLC <MARS.L>::BELIEVES THAT GROUP HAS SUFFICIENT LIQUIDITY TO MAINTAIN OPERATIONS AT A MATERIALLY REDUCED LEVEL OF BUSINESS.CONFIRMS IT HAS FORMALLY ASKED HOLDERS OF ITS SECURED CLASS A NOTES FOR A LIMITED NUMBER OF TECHNICAL WAIVERS AND AMENDMENTS.MARSTON'S IS SEEKING CONSENT OF ITS CLASS A NOTEHOLDERS TO TEMPORARILY WAIVE OR AMEND CERTAIN TERMS.CONFIDENT THAT IT HAS SUFFICIENT HEADROOM ON BOTH ITS BANK AND SECURITISED FACILITIES, SUPPORTED BY A 93% FREEHOLD ESTATE.NOT SEEKING ANY CHANGES TO SCHEDULED INTEREST OR QUARTERLY REPAYMENTS DUE TO NOTEHOLDERS.FURLOUGHED C.93% OF GROUP'S 14,000 EMPLOYEES AND REDUCED SALARIES OF BOARD AND OTHER REMAINING STAFF.NEED FOR TEMPORARY WAIVERS OR AMENDMENTS REQUESTED IS ENTIRELY CAUSED BY EFFECTS OF COVID-19 SHUTDOWN MEASURES.CANCELLED INTERIM DIVIDEND PAYMENTS BY GROUP FOR FY2020.

Marston's Granted Debt Waiver Until May 29, With Automatic Extension To Mid-June

April 20 (Reuters) - Marston's PLC <MARS.L>::MARSTON'S PLC - COVID-19 UPDATE RE: SECURITISATION WAIVER GRANTED.MARSTON'S - MARSTON'S ISSUER TAKEN MEASURE OF SECURING WAIVER OF BREACH THAT MIGHT ARISE UNDER 30 DAY SUSPENSION OF BUSINESS.MARSTON'S PLC - REVIEWING WHETHER THERE IS A NEED TO CONSULT WITH BONDHOLDERS ABOUT FURTHER POSSIBLE COVENANT WAIVERS UNDER SECURED FUNDING PLATFORM.

Marston's Sees Lower Sales in Coming Weeks, Says Unlikely To Pay Dividend

March 18 (Reuters) - Marston's PLC <MARS.L>::MARSTON'S PLC - COVID-19 UPDATE.MARSTON'S PLC - FOR 24 WEEKS TO 14(TH) MARCH 2020, LIKE-FOR-LIKE SALES IN OUR PUBS WERE 1% BELOW LAST YEAR.MARSTON'S PLC - ALTHOUGH RECENT TRADING HAS BEEN IMPACTED BY COVID-19, THIS HAS BEEN MARGINAL TO DATE.MARSTON'S PLC - PUB LIKE-FOR-LIKE SALES HAVE BEEN BROADLY FLAT OVER LAST TWO WEEKS.MARSTON'S PLC - ANTICIPATE THAT GOVERNMENT'S ADVICE WILL RESULT IN SIGNIFICANTLY LOWER SALES IN COMING WEEKS.MARSTON'S PLC - EXPECT A REDUCTION TO OUR EXPECTATIONS FOR FINANCIAL YEAR 2020.MARSTON'S PLC - IT IS UNLIKELY THAT AN INTERIM DIVIDEND WILL BE RECOMMENDED IN MAY, RETAINING C.£20 MILLION IN BUSINESS.MARSTON'S PLC - HAVE SUFFICIENT LIQUIDITY TO MAINTAIN OPERATIONS AT A MATERIALLY REDUCED LEVEL OF BUSINESS.MARSTON'S PLC - HAVING DISCUSSIONS WITH BANKING GROUP ABOUT PROVISION OF COVENANT WAIVERS FOR SECOND HALF-YEAR.

Marston's LFL Sales Grew 4.5% Over Christmas Fortnight

Jan 24 (Reuters) - Marston's PLC <MARS.L>::TRADING FOR 16 WEEK PERIOD TO 18 JANUARY 2020 AND UPDATE ON DEBT REDUCTION PLANS.IN YEAR TO DATE, WE HAVE COMPLETED OR EXCHANGED ON £60 MILLION OF DISPOSALS.FOR 13 WEEKS, PUBS TOTAL MANAGED AND FRANCHISE LIKE-FOR-LIKE SALES GROWTH FOR PERIOD INCREASED 1.0%.FURTHER INCREASE DISPOSAL PROCEEDS TARGET TO £85-90 MILLION.FOR 13 WEEKS, PUBS TRADING OVER CHRISTMAS FORTNIGHT WAS STRONG, WITH LIKE-FOR-LIKE SALES GROWTH OF 4.5%.WE ARE MAKING EXCELLENT PROGRESS ON OUR DEBT REDUCTION STRATEGY, WELL AHEAD OF ORIGINAL 2023 TARGET.RECENTLY ANNOUNCED 6.2% INCREASE IN NATIONAL MINIMUM WAGE FROM APRIL WILL INCREASE SECOND HALF YEAR COSTS BY A FURTHER C. £2-3 MILLION.GIVEN MARGIN PROFILE OF OFF-TRADE, DESPITE VOLUME DECLINE, EARNINGS ARE IN LINE WITH OUR EXPECTATIONS.TRADING OVER CHRISTMAS FORTNIGHT COMPENSATED FOR MORE SUBDUED TRADING IN FIRST THREE WEEKS OF DEC DUE TO POOR WEATHER.

Marston's Says Trading On Track For Initial Weeks Of Current Year

Nov 27 (Reuters) - Marston's PLC <MARS.L>::PRELIMINARY RESULTS.FY LFL SALES GROWTH OF 0.8% WITH GROWTH IN BOTH WET-LED AND FOOD PUB SEGMENTS.FY AVERAGE PROFIT PER PUB IN LINE WITH LAST YEAR REFLECTING BALANCED PUB PORTFOLIO.8 NEW-BUILD PUB-RESTAURANTS, 15 WET-LED PUBS AND 2 LODGES OPENED IN YEAR.FY UNDERLYING REVENUE £1,174M VERSUS £1,140M.FINAL DIVIDEND MAINTAINED AT 4.8P PER SHARE COVERED 1.8X BY EARNINGS.FY UNDERLYING PROFIT/(LOSS) BEFORE TAX £101.0M VERSUS £104.0M.MAKING GOOD PROGRESS WITH OUR DEBT REDUCTION PLANS.FY STATUTORY REVENUE £1,174M VERSUS £1,141M.AHEAD OF SCHEDULE IN MEETING ACCELERATED £70 MILLION OF DISPOSAL PROCEEDS WHICH WE ARE TARGETING IN CURRENT YEAR.PRINCIPAL FOCUS REMAINS TO REDUCE OUR NET DEBT BY £200 MILLION BY 2023 - OR EARLIER.TRADING IS ON TRACK FOR INITIAL WEEKS OF CURRENT YEAR AND WE ARE WELL PREPARED FOR ALL-IMPORTANT CHRISTMAS AND NEW YEAR PERIOD.FY STATUTORY LOSS BEFORE TAX £20.0M VERSUS PROFIT OF £54.3M."BREXIT CONTINGENCY PLANS ARE IN PLACE TO ENSURE WE ARE AS PREPARED AS WE CAN BE FOR CRITICAL CHRISTMAS AND NEW YEAR TRADING PERIOD".IN FIRST SEVEN WEEKS OF PERIOD PUB LIKE-FOR-LIKE SALES ARE AHEAD OF LAST YEAR AND BEER PERFORMANCE IS IN LINE WITH EXPECTATIONS.CONSUMER CONFIDENCE REMAINS WEAK.BREXIT, POLITICAL UNCERTAINTY AND REAL WAGE PRESSURES COULD FURTHER IMPACT ON CONSUMER CONFIDENCE.GUIDANCE FOR 2020 FOR DISPOSALS IS AT LEAST £70 MILLION AND TARGETING AT LEAST £150 MILLION OF DISPOSALS IN PERIOD 2020-23 IN TOTAL.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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