The operator, which has more than 1,300 pubs, said profit before tax, excluding one-off costs, for the 52 weeks to 26 September 2026 was expected to come in above the top end of market expectations.
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The group said profits were now more than three times higher than in FY2023, following a third consecutive year of significant profit growth.
Marston’s completed 60 pub format conversions throughout 2026 and said it would deliver at least 100 in 2027, with a focus on its Grandstand format.
The group said Grandstand had become the standout performer in its format strategy, with investments made during FY2026 delivering around 30% sales growth compared with pre-investment levels.
Estate investment
Like-for-like sales improved to broadly flat in the fourth quarter, helped by the new pub formats, stronger summer trading and the World Cup. Full-year like-for-like sales were 1.2% lower.
Marston’s said its operating margin had improved during the year, supported by its pub model and tight cost control.
The business also said strong cash generation had helped it reduce debt, with debt compared with earnings now broadly half the level of FY2023.
Marston’s chief executive Justin Platt said: “We have delivered a third consecutive year of significant profit growth, margin improvements and strong recurring free cash flow.
“Our differentiated pub formats continue to drive excellent returns, and our guest satisfaction scores show that we continue to delight our customers, a credit to our talented, hard-working teams.
“Our progress over the last three years shows the momentum we have as a high margin, highly cash generative local pub company, with profits substantially up and debt levels halved.”
Platt added the business entered the new financial year “well set” to drive its next phase of growth.
Marston’s is due to announce its full-year results on 24 November 2026.