Marston's revenue grows over Christmas as it plans new pub openings
Over Christmas, Marston’s had like-for-like revenue growth for the fifth successive year and the company maintained its forecast for the full year as it plans new pub openings.
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The brewery and pub operator said that despite tough comparatives, like-for like-sales grew 1.5% in the four months ended 21 January in the destination and premium segments. This included a LFL 0.6% growth in food sales, and a 1.4% rise in LFL sales of drink.
Operating margins are in line with the previous year, while LFL revenue in taverns, managed and franchised pubs were 1.5% ahead of last year. In the leased segment, profits are forecast to increase by 2%.
In brewing, own-brewed volume was up 3% in the year to date and operating margins are “slightly” ahead of last year.
The FTSE 250 company's expectations for the full year are unchanged, while it plans to open at least 20 new pub-restaurants and bars, as well as five lodges across the country this year.
Chief executive Ralph Findlay said: "We traded well over the Christmas period with like-for-like sales growth for the fifth successive year despite tough comparatives. In brewing, we have continued to outperform and once again have achieved good growth with a particularly strong performance in the off-trade."