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

Shares in pub brewer Marston's have been making steady progress. Phil Oakley looks to see if the shares are still worth buying.

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.

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.