Having updated the market last month, finals are bang in line at the PBT level, implying y-o-y growth of 3%. EPS of 14.2p has come in a smidgen above our 13.8p. For those investors attracted by the stocks yield / progressive DPS policy there is good news re the DPS, with the final up 1% implying 3% y-o-y growth to 7.5p (vs our 7.6p) – 1.9x cover. We also note NAV of 147p at the year-end. Commentary on current trading is reassuring with LFL growth seen in the last 10 weeks, this is reassuring giv ....

30 Nov 2017
N+1 Singer - Marston's - Reassuring tenor to finals; no further downgrades

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N+1 Singer - Marston's - Reassuring tenor to finals; no further downgrades
Marston's PLC (MARS:LON) | 42.8 0 0.2% | Mkt Cap: 271.3m
- Published:
30 Nov 2017 -
Author:
Sahill Shan -
Pages:
3 -
Having updated the market last month, finals are bang in line at the PBT level, implying y-o-y growth of 3%. EPS of 14.2p has come in a smidgen above our 13.8p. For those investors attracted by the stocks yield / progressive DPS policy there is good news re the DPS, with the final up 1% implying 3% y-o-y growth to 7.5p (vs our 7.6p) – 1.9x cover. We also note NAV of 147p at the year-end. Commentary on current trading is reassuring with LFL growth seen in the last 10 weeks, this is reassuring giv ....