Marston’s To Open New Sites And Food Led Ventures Gather Momentum

MarstonsPub and brewery operator Marston’s has reported growth across the first half of the year – with CEO Ralph Findlay saying food-led venues were “once again achieving increasing momentum”.

The firm recorded pre-tax profits of £37m, rising 2% year-on-year for the  26-week interim period ending 30 March 2019. Revenues also picked up, rising by 5% to £553.1m.

Like-for-like sales at managed and franchised sites grew by 2.2% over the period as a whole, rising to 3.2% in the last ten weeks of the period. The average profit per pub stood at 1%.

Welcoming the results, Marston’s CEO Ralph Findlay said it was encouraging to see Commenting, Ralph Findlay, CEO said: “I am pleased to report continued growth across all segments of the business. Our Taverns wet-led community pubs have built on the strong trading performance last year and it is particularly encouraging to see our food-led pubs once again achieving increasing momentum in profitable like-for-like sales growth. Our leading Brewing business goes from strength to strength, winning new distribution contracts and continuing to grow market share.

“We remain focussed on our strategic objectives and good progress has been made with our stated aim to improve cash generation and reduce the Group’s leverage. Whilst the backdrop of ongoing uncertainty around Brexit continues to be challenging, opportunities for growth remain and we are confident of delivering another year of profitable growth for our shareholders.”