Marston's reports fall in full year profits

Pubco Marston's has posted a rise in revenue of 1% and average profit rise per pub of 10%, in its preliminary results for 52 weeks ended 4 October 2014.

The group revenue was up to £787.6m, while profit before tax was down 3.6%, which it attributed to a shorter trading period this year, and disposals made in the past 12 months.

Like-for-like sales were up 2.1% across premium and destination pubs, and the groups Taverns brand saw like-for-like sales up 2%.

The company said that its brewing business had continued to grow, and said that there had been strong underlying revenue and profit growth, including average profit per pub of 10% across the retained pub estate, thanks to its 27 new openings in the year. This included the group's opening of its 100th pub, in Dumfries, in September.

It had also converted 535 of its Taverns sites to franchise.

Ralph Findlay, chief executive, said that the company had "made good progress", and had benefited from disposing weaker pubs.

The company also stated it planned to build at least 25 new pubs this year, and was on track to dispose of 200 pubs from its Taverns estate over the next 12 months.

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