logo-loader

Marston’s update the main focus on Cheeky Pint Friday after Spoon's pleased the City

The market will also keep an eye out for UK flash PMIs to understand whether the Bank of England might cut interest rates next week

Marston’s PLC - UK flash PMIs and Marston’s take away a retail-focused week

The main focus on Cheeky Pint Friday will be an update from mid-cap brewer and pubs operator Marston’s PLC (LON:MARS).

The  FTSE 250-listed group is expected to serve upbeat news regarding its performance over the recent festive period, just as fellow publican JD Wetherspoon PLC (LON:JDW) did on Wednesday.

With its preliminary results, released in November, Marston's said its new financial year had begun well with pub sales higher in the first seven weeks. No new pub openings were planned for 2020 as part of its strategy to cut debts and rein in its capital growth spending.

“Our principal focus remains to reduce our net debt by £200mln by 2023 - or earlier - and the measures we are taking now will result in a high-quality business which is cash generative after dividends and capital expenditure,” said chief executive Ralph Findlay in the results statement.

Investors will also look for any news on asset disposals, following the sale of 137 of its pubs for £45mln late last year.

Flash PMIs due too

The market will also keep an eye out for UK flash PMIs on Friday after Tuesday’s labour market data suggested that things are not getting any worse for the UK economy and may have even started to turn around.

Friday's dataset could be “crucial” in confirming or refuting a bounce in the economy, according to analysts.

“If the pick-up in sentiment is confirmed in the flash PMIs… then it could be enough to convince the Monetary Policy Committee that the economy has turned a corner and that it does not need to cut rates from 0.75% at its meeting on 30th January,” said Thomas Pugh from Capital Economics.

Significant announcements expected on Friday January 24:

Trading announcements: Marston’s PLC (LON:MARS)

Interims: Hansard Global PLC (LON:HSD)

Economic data: UK flash PMIs

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Seneca Global Income & Growth's David Thomas reckons there's much more NAV...

Seneca Global Income & Growth Trust PLC's (LON:SIGT) David Thomas tells Proactive London's Andrew Scott it's a multi-asset trust and, unusually in the space, he says they're value-investors. ''At the moment we've got around 60% equities of which over half is in the UK'', he says. ''In the UK...

8 hours, 25 minutes ago

2 min read