THE INVESTMENT COLUMN: Hardys & Hansons can brew up a treat for investors
Thursday 10 February 2005
Not that the company's performance has been at all dissatisfactory. It is an old-school mix of brewing, pub and restaurant assets, including more than 250 pubs concentrated in Nottinghamshire, Derbyshire and Yorkshire. Of its venues, it manages about a third directly, with the rest rented to tenants. Its cask ale has declined in popularity but the company has moved with the times and puts on a very strong food offering at its community- focused venues.
The annual meeting yesterday was told that turnover in the managed pubs is up 4.5 per cent in the period since 2 October, but that the company is having to absorb higher minimum-wage costs and utility bills. That's nothing new. Nor was the warning that growth from new properties will be a little lower this year because of the difficulty in finding good value sites. Shareholders can take comfort that it will not overpay for acquisitions, that its properties are very conservatively valued on the balance sheet, and that there is scope to increase payouts to shareholders beyond the current 3.4 per cent dividend. At 580p, buy.
- 1 Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
- 2 New Zealand 'the best country to work as a prostitute', says sex worker advocacy group
- 3 Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
- 4 Mother 'will allow son's circumcision in return for release from prison'
- 5 Female Muay Thai champion hustles coaches to give them a beating
Greek hospitals cannot afford painkillers, scissors or sheets as budget cuts bite
Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
Female Muay Thai champion hustles coaches to give them a beating
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Picture of couple posing with beached dolphin 'that later died' causes outrage
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...