Pub operator Marston's has delivered a 15% rise in profit per pub during 2015. This has been a major contributor to the group's 10% increase in profit before tax to £91.5m for the year to 3 October 2015.
The company has undertaken a three-year transformation of its property portfolio that has seen disposals of weaker properties, greater focus on premium outlets and an increase in the number of pub restaurants. Over that period profitability per pub has increased by around 40% to £100,000 per pub.
The company opened 25 new pub restaurants in the last year and has plans for at least 20 new-build pubs during 2016. "New build, food-led pubs remain our core growth driver," said CEO Ralph Findlay. He added that accommodation is also becoming a more significant part of the company's portfolio, with three lodges opening last year and a further five a year planned for 2016 and beyond.
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