Marston's sees like-for-like sales improve despite wet summer
Pub company and brewer Marston's has seen like-for-like sales in its managed pubs increase 2.2% despite the wet weather in the summer months for the year to 29 September 2012.
The news came as the firm made a statement ahead of its preliminary results on 29 November 2012.
Meanwhile it appointed Peter Dalzell as a main board director, following the company's decision to bring together the management of all of its pubs in one team, reporting to Dalzell. He joined the group in 1995 and has experience in operating Marston's managed, leased and tenanted pubs.
Stephen Oliver will continue to report to Ralph Findlay, chief executive, as managing director of Marston's Beer Company.
The firm also indicated that it had completed 25 new pub restaurants in the past year, and has a development pipeline including 20-25 sites planned for completion in the 2013 financial year, subject to planning.
In its leased, tenanted and franchised pubs, operating profits were estimated to be around 3% ahead of last year thanks to the growth of its franchised estate, which now constitutes around 500 pubs.
Own-brewed beer volumes were 2% ahead of last year.
Findlay said: "We have been encouraged by the performance of all areas of our business this year despite the challenging consumer environment and the poor weather. Our continued focus on offering value for money to our customers together with high service and quality standards is appropriate for current market conditions, and is generating profitable growth with improved returns. The recent valuation exercise demonstrates the inherent quality of our pub estate and in particular highlights the significant value created by our new-build pub-restaurants."
By Neil Gerrard
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