‘Brexit Vote Has Had No Discernible Trading Impact’ – Marston’s Says

barMarston’s has reported like-for-like sales increased 2.5%, with food sales growing 2.1% and wet sales increasing 2.6%, in its latest trading update.

In the most recent 16 week period to 23rd July 2016, like-for-like sales increased 1.8%, despite the anticipated adverse impact of Euro 2016 on its food-led pubs.

Ralph Findlay, chief executive officer of Marston’s, said: “We continue to be encouraged by our performance. As expected, Euro 2016 was broadly neutral for the Group as a whole and we have continued to maintain our market outperformance by focusing on offering our customers great experiences and value in modern pubs and bars.

“In Brewing, we are growing in an attractive market, demonstrating the effectiveness of our new product development and the appeal of our brand portfolio, underpinned by industry-leading service.”

The Group remains on track to meet its growth targets for 22 pub restaurants and bars in the current financial year, in addition to six lodges.

In its taverns division, like-for-like sales for the 42 week period were 2.8% ahead of last year, with growth of 2.5% in the last 16 weeks of the period. Euro 2016 contributed to the strong performance and helped to offset the poor weather.

Marston’s has an estate of around 1,500 pubs situated nationally, comprising managed, franchised and leased pubs.

On Brexit Findlay added: “Although much has been written about the potential effect of Brexit on consumer confidence, we have not seen any discernible impact on trading to date.

“We believe that our focus on value and affordable treats is appropriate for current market conditions, and while we remain ever mindful of the risks to long term business confidence, it continues to be our intention to develop and implement our proven growth strategy.”