Shares in focus: Marston’s – time to get another round in?

A building spree and in-pub dining should grow profits at the chain, says Phil Oakley.

Investing in pub companies is not for the nervous. Their profits are very sensitive to the ups and downs of the economy and consumers’ willingness to spend. On top of that, the pub companies themselves have had an unhelpful tendency to push the self-destruct button from time to time.

Back in the late 1990s, they spent too much money on city centre pubs and trendy bars. The 2000s saw tenanted pubs become all the rage and the supposed path to riches. That ended in [...]

MoneyWeek magazine

Latest issue:

Magazine cover
Hard cash

What's next for gold and silver?

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

What you should really do with your money (2014 Edition)

How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking