Marston's to announce steady performance growth
Pub operator and brewery Marston's is expected to announce a steady growth in performance in its forthcoming preliminary results at the end of November.
In a trading update, the company said that like-for-like sales in its taverns was 1.6% above last year, while in its destination and premium pubs and leased outlets it grew by 0.9% and 1% respectively.
The acquisition of Charles Wells Brewing and Beer for £55m, incorporating a portfolio of more than 30 beers, was a significant milestone in June
During the year, Marston's completed 19 new pubs and bars and eight lodges, while next year the group intends to open 15 pubs and bars and six lodges.
Sales and profits are said to be "ahead" of last year, while cost savings of around £5m per annum, including the recently announced reorganisation of the pub operational structure, have been identified.
Ralph Findlay, chief executive of Marston's, said: "Our priority is to focus on quality, service and standards. We are well-placed to continue to implement our growth strategy through investment in higher-quality pubs and bars and through our unrivalled beer brand range, supported by high customer service standards."
Marston's has a portfolio of around 1,550 managed, franchised and leased pubs.
Marston's acquires Charles Wells Brewing and Beer Business for £55m >>
Marston's agrees new bank facility >>
Marston's acquires three Pointing Dog pubs >>
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