Finance news

Marston's and M&B results reveal profit rises

By Emily Sutherland

- Last updated on GMT

Marston's chief Ralph Findlay (far left) said: 'We have responded to consumer demand'
Marston's chief Ralph Findlay (far left) said: 'We have responded to consumer demand'

Related tags: Marketing, Alcoholic beverage, Public house

Marston’s and Mitchells & Butlers have announced sales results with the overall picture looking bright for both companies.

New openings and consumer demand for casual dining were behind the profit rises.

Total revenue climbed 9.5% to £1.113bn for M&B with pre-tax profits reaching £75m. Food sales grew by 2.5% and an increase in drinks sales was attributed to 2.7% increase in the average spend.

Meanwhile Marton’s reported that profit per leased pub increased by 4% and food and drink sales up 1.8% and 1.7% respectively.

Marston’s chief executive Ralph Findlay said: “Two years ago, we set out our plan to reposition our pub estate, focusing on high-quality pubs with opportunity for future growth.

“As we approach the end of the transition period, these results demonstrate our plans are working.”

Findlay added: “We have responded to consumer demands through innovative menu developments including Pizza Kitchens and ice cream parlours, and through the introduction of better technology.”

Increased consumer confidence and lower unemployment figures were also behind the figures, although Mitchells & Butlers chief executive Alistair Darby acknowledged that the market remained ‘challenging.’ 

Darby said: “We have made good progress with continued strong food growth driving improved sales. The market remains challenging despite growing consumer confidence. However, we are confident our business is well placed to capitalise on opportunities in the market.”

Earlier this week, Enterprise announced profits of £57m alongside plans to overhaul its business which will see it operate a managed estate of 750-850 pubs. 

Related topics: Marston's

Related news

Show more