Marston's (MARS)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

42.80p
   
  • Change Today:
    -0.25p
  • 52 Week High: 44.95
  • 52 Week Low: 25.85
  • Currency: UK Pounds
  • Shares Issued: 660.36m
  • Volume: 893,424
  • Market Cap: £282.64m
  • RiskGrade: 364
  • Beta: 1.34

Marston's disposes of stake in Carlsberg JV

By Iain Gilbert

Date: Monday 08 Jul 2024

LONDON (ShareCast) - (Sharecast News) - Wolverhampton-based company Marston's has disposed of its 40% stake in its brewing joint venture with Carlsberg to become a business entirely focused on pubs.
Marston's said on Monday that it has reached a binding agreement with Carlsberg to offload its share of the JV for £206.0m, establishing it as a "purely focused pub business", with a "strong position" in the UK market and "significant opportunities" for further growth.

The London-listed group highlighted that the sale sees it deliver on its stated de-leveraging strategy, creating a "stronger balance sheet" and a "step change" in financial flexibility.

Martston's said the sale price was at an "attractive valuation", representing an enterprise value multiple of 14.5x EBITDA and 24.3x EBIT for the 12-months period ended 31 December.

Net proceeds from the sale will be used for "significant debt paydown", achieving the company's medium-term target of less than £1.0bn of net debt in a "significantly accelerated time frame.

Chief executive Justin Platt said: "Today's announcement represents a significant milestone for Marston's as we realise our stake in CMBC. In my first six months with the business, it has become very clear to me that our core capability and key opportunity to unlock value for shareholders is in driving a focused and successful pub business.

"This deal further strengthens our balance sheet, significantly reducing our debt by over £200.0m. In addition, CMBC remain valued strategic partners and we continue to benefit from our ongoing long-term brand distribution agreement with them. Crucially, it allows us to become a pure play hospitality business and focus on what we do best - namely, giving our guests amazing pub experiences."

As of 0955 BST, Marston's shares were up 12.41% at 34.51p.









Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Marston's Market Data

Currency UK Pounds
Share Price 42.80p
Change Today -0.25p
% Change -0.58 %
52 Week High 44.95
52 Week Low 25.85
Volume 893,424
Shares Issued 660.36m
Market Cap £282.64m
Beta 1.34
RiskGrade 364

Marston's Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.40% above the market average96.40% above the market average96.40% above the market average96.40% above the market average96.40% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
78.62% above the market average78.62% above the market average78.62% above the market average78.62% above the market average78.62% above the market average
43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average
Income Not Available
Growth
19.30% above the market average19.30% above the market average19.30% above the market average19.30% above the market average19.30% above the market average
55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average

What The Brokers Say

Strong Buy 2
Buy 4
Neutral 1
Sell 0
Strong Sell 1
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Marston's Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Dec-19 23-May-19
Paid 27-Jan-20 02-Jul-19
Amount 4.80p 2.70p

Trades for 06-Dec-2024

Time Volume / Share Price
16:50 1,850 @ 42.80p
15:44 8 @ 42.55p
15:44 15 @ 42.55p
15:44 6 @ 42.55p
16:35 68,416 @ 42.80p

Marston's Key Personnel

CFO Hayleigh Lupino
CEO Justin Platt

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