Marston’s YE update as anticipated is inline with expectations. The key point is that in a dull sector it has outperformed on the key LFL metrics and not suffered margin decline like most of its peers. Moreover, it has grown EPS by a strong 10% in the year (all organic) in a period when frankly the key peers have eked out anaemic growth at best. The broad tenor of today’s update underpins our Buy stance and target price of 170p.
14 Oct 2015
YE update confirms a year of solid progress in a dull sector
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YE update confirms a year of solid progress in a dull sector
Marston's PLC (MARS:LON) | 27.3 -0.1 (-0.7%) | Mkt Cap: 173.3m
- Published:
14 Oct 2015 -
Author:
Sahill Shan -
Pages:
4
Marston’s YE update as anticipated is inline with expectations. The key point is that in a dull sector it has outperformed on the key LFL metrics and not suffered margin decline like most of its peers. Moreover, it has grown EPS by a strong 10% in the year (all organic) in a period when frankly the key peers have eked out anaemic growth at best. The broad tenor of today’s update underpins our Buy stance and target price of 170p.