In the third of our four-part series on small caps (you can read part two on UK small cap funds and trusts elsewhere in this issue), we get our data-crunching caps on and take a look at key metrics around value, income and growth in the smaller companies universe.To narrow things down we limited our search to London-listed companies with market valuations between £50 million and £500...

Festive like-for-likes up 6.1%Year-to-date sales up 4%£60 million extra labour costs expectedPubs group JD Wetherspoon (JDW) reported strong trading over the festive season with like-for-like sales up 6.1% over the three weeks between 16 December 2024 to 5 January 2025.In the last 12-weeks, representing Wetherspoon's financial second quarter, like-for-like sales growth slowed to 4.6% compared...

Like-for-like festive sales up 11%Full-year profit reiteratedMedium-term targets reaffirmedPubs group Marston's (MARS) reported exceptionally strong festive trading with like-for-like sales growth of 11.1% between 22 December and 4 January and said it is well positioned to deliver full-year pre-tax profit in line with consensus analyst expectations.The shares dropped 1.4p or 3.3% to 40.9p,...

UK firms from the retail, leisure, hospitality, manufacturing, logistics and housebuilding sectors have said they will incur additional costs due to the increases in the national living wage and employers' national insurance contributions announced in the Budget on 30 October. According to Reuters the total declared impact is now £1.1 billion.Some of the sectors most affected include retail...

Full-year operating profit up 18%Material net debt reductionPositive trading continuesInvestors raised a glass to Marston's (MARS) on Tuesday, pushing the shares up 3.3p or nearly 9% after the pubs group served up a big jump in full-year profit and said positive momentum has continued with Christmas bookings tracking ahead of the prior year.The shares are up around 40% over the last year,...

Full-year sales up 4.8%Full-year profit in line with consensusYear-end net debt to fall by £300 millionPubs group Marston's (MARS) said strong trading continued into its final quarter resulting in full-year like-for-like sales up 4.8%, ahead of the broader hospitality market, driven by resilient demand for its food and drink.The group noted a 'material' circa £300 million reduction in...

UK soft drinks maker Britvic (BVIC) looks set to become the latest FTSE 250 mid-cap company to exit the London stock market after agreeing to an improved £3.3 billion offer tabled by Danish brewer Carlsberg (CARL-B:CPH) on 8 July.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t...

Brewing joint venture sold for £206 millionAccelerates timeframe to reduce net debtCompany to layout capital allocation plansIt was drinks all round for Marston's (MARS) after the pub and hotel group announced the sale of its remaining 40% stake in the Carlsberg Marston's Brewing joint venture back to Danish brewer Carlsberg (CARL-B:CPH) for £206 million in cash.The shares jumped as much as...

£13.15 per share bid recommendedPepsiCo waiver key to dealBritvic sales up 6.3% in Q3Another one bites the dust. Soft drinks maker Britvic (BVIC) will become the latest company to leave the London stock market after agreeing to Carlsberg's (CARL-B:CPH) improved £3.3 billion takeover offer.Shares in the Robinsons, Fruit Shoot and J2O maker fizzed up 5% to £12.70 after the FTSE 250 firm said...

Like-for-like sales up 7.3%Cash generation cuts net debtSales growth continues in 2HPubs group Marston?s (MARS) revealed continued outperformance of the wider market with like-for-like sales up 7.3% in the first half and underlying pub operating profit 22% higher at £52.7 million.The shares have performed strongly over the last week ahead of the results, inviting some profit taking today with...

The unveiling of a new British ISA helped give domestic stocks a modest lift after its announcement in the Budget.The £5,000 limit on the new tax wrapper, which can only be invested in UK assets, will be in addition to the existing £20,000 ISA allowance.The key test will be whether this provides a meaningful boost in terms of flows into UK equities and helps improve what has been a very...

December like-for-like sales up 15.2%, year to date 8.4% aheadFull year outcome expected to be inline with expectationsWages and energy costs remain key challenge across the industryPubs group JD Wetherspoon (JDW) continued its slow and steady recovery from the pandemic putting up a good festive performance as like-for-like sales increased 15.2% in December compared with 8.8% for the...

Strong festive trading with like-for-like sales up 9.6%Total sales for 16-weeks to 20 January up 8.8%Resilient growth reflects appeal of suburban pubsPubs and hotels group Marston?s (MARS) released a brief but upbeat trading update on Tuesday covering the 16-weeks to 20 January.Total sales for managed and franchised pubs increased 8.1% reflecting ?strong? festive trading. Like-for-like sales...

The UK hospitality sector has been one of the biggest casualties of the pandemic and the slowest to rebound.Enforced closures during lockdowns, surging energy, labour and commodity prices post pandemic and ongoing train strikes mean hospitality has faced more than its fair share of obstacles over the last three years.The extra challenges mean hospitality has been slower than other sectors to...

Full-year sales up 9%, LFLs up 10%Operating profit increases by 8%Strong trading continues into fourth quarterPub group Marston?s (MARS) said strong trading had continued since the end of September with like-for-like sales up 7.4% compared with last year while Christmas bookings were also ahead.The shares were unchanged at 31p, leaving them around 22% below where they started the year and 71%...

Shares in pub and hotel group Marston's (MARS) are down around 18% this year, despite the business continuing to recover from the pandemic and receiving a welcome boost from the chancellor's Autumn statement which froze alcohol duties until August 2024.After revealing full-year sales on 11 October, the company is due to update investors on earnings for the year to September on 5 December.Sales...

Shares in banking group NatWest (NWG) slipped on news of a potential retail shareholder offer in the coming 12 months - with chancellor Jeremy Hunt giving a deliberate nod to the privatisations of the 1980s in his Autumn Statement.The concern will be that at least a portion of the state's remaining 38.6% stake will be offered at a discount to ordinary investors, and this could act as an...

NatWest share offer mulledAlcohol duty freezePlans to simplify ISAsShares in NatWest (NWG) were down slightly at 205p as the chancellor Jeremy Hunt floated the idea of a share offer.The Government still owns a 39% stake in the UK high street bank. The concern may be that shares will be offering to investors at a discount, acting as an overhang on the share price.PUBS AND BOOZE STOCKS TOAST...

Andrew Andrea exits suddenlyJustin Platt to start in JanuaryPlatt formerly at Merlin EntertainmentPub group Marston?s (MARS) has announced chief executive and company veteran Andrew Andrea is stepping down with immediate effect to be replaced by Justin Platt, who was most recently Chief Strategy Officer at Merlin Entertainments.Platt is due to take up the CEO role on 10 January 2024 with the...

Given the positive summer trading updates from UK hospitality firms such as JD Wetherspoon (JDW), Marston's (MARS) and Mitchells & Butler (MAB), expectations are fairly high for Beefeater, Brewers' Fayre and Premier Inn owner Whitbread (WTB) when it reports first-half earnings on 18 October.In the first quarter to the start of June, Premier Inn accommodation sales were up 18% on last year...