Marston’s pubco sees profits grow in all divisions

CEO Ralph Findlay
30/11/2017 - 08:48
British pub company Martston’s has reported growth in profit across all trading segments for the year, including underlying growth of 10% in group revenue.

The company turned over £992.2 million for the 52 weeks ended 30 September, up from £905.8m in 2016.

Pre-tax profits were up across the company estate versus last year, growing by 3% to £174.5 million.

The biggest rise in profits was in the company’s Brewing and Destination and Premium divisions.

In the latter, which consists of 397 family and food orientated pubs, profit of £88.9m was 2.3% up on 2016 while total revenue increased by 4.5% to £438m.

Marston’s credited the rise to the continued strong performance of its new-build pub-restaurants and growth in like-for-like sales of 0.9%.

In Brewing, total revenue increased by 30.8% to £252.9m principally reflecting the acquisition of the Charles Wells Brewing and Beer (CWBB) business in June.

Like-for-like sales across the Marston’s managed and franchised pubs were up 1.6%.

Ralph Findlay, chief executive officer, said: “We have achieved strong revenue growth and higher earnings, despite increasing employment and property costs.

“Our business has been transformed in recent years with a significant improvement in the quality of both our pub and beer businesses.

“While political and economic uncertainty is likely to continue, we remain confident that our proposition founded on providing great customer experiences, the very best service and value for money, leaves Marston’s positioned to deliver further growth in the year ahead.

Marston’s opened eight lodges, 19 pubs and bars and acquired nine more during the 52 weeks covered.

It is targeting opening 15 pubs and bars and six lodges in the coming year including its largest 100 plus room lodge to date in Ebbsfleet.

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