Key events help Marston's maintain "satisfactory" performance

By John Harrington

- Last updated on GMT

Related tags Profit Chief executive

Key events help Marston's maintain "satisfactory" performance
Marston’s, the brewer and pub operator, has reported that its recent performance has been satisfactory in view of the very wet weather conditions, helped by key trading events including the Jubilee weekend, Euro 2012 and Father's Day.

In the 10 week period since 12 May, like-for-like sales increased by 1.6%.

Across its managed pubs, like-for-like sales for the 42 week period were 2.2% ahead of last year, including like-for-like food sales growth of 2.4% and like-for-like wet sales growth of 2.1%.
It said it continued to make progress across its business, with profitability in line with the group’s expectations.

The company said that operating margin was slightly above last year, and that it remained on track to complete 25 of its “high return new-build pub restaurants” in the current financial year.

The group said that across its tenanted and franchised pubs underlying trends had continued to improve with operating profit estimated to be 3.2% ahead of last year.

Marston’s said that this reflected a strong performance in the franchise estate, which now operates in around 450 pubs, and continued “stability and modest growth” in the traditional tenanted and leased estate.

It said it had continued to increase market share through its brewing division, with own-brewed beer volumes up around 2% versus last year.

The company reported that net debt and cash flow were in line with expectations.

Ralph Findlay, chief executive, said: “Our performance to date demonstrates that our focus on offering great value for money underpinned by high service levels remains attractive to our customers despite the wider economic challenges.

“In recent weeks we have achieved sales growth despite the poor weather, helped by key trading events including the Jubilee weekend, Euro 2012 and Father's Day. By the end of this financial year we will have built around 60 new pub-restaurants in three years, and we have a clear site pipeline for future development.”

Related topics Marston's

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