Marston's hails ‘solid' 2016 growth

12 October 2016 by
Marston's hails ‘solid' 2016 growth

Pub group Marston's has hailed a year of "solid" growth, with like-for-like sales in its destination and premium pubs up 2.3% on last year.

In a trading update for the year to 1 October 2016, ahead of its preliminary results on 24 November, Marston's said food like-for-like sales growth stood at 1.7% and wet like-for-like sales at 2.3%, underpinned by "strong growth" in its room income.

In the last 10 weeks of the period, like-for-like sales have grown by 1.8%.

The company built 22 new pubs and bars as well as six lodges in the financial year just ended, and plans the same number of pubs and bars again, as well as six lodges, in 2017.

In its Taverns division, like-for-like sales were 2.7% ahead of last year, with growth of 2.0% in the last 10 weeks.

In its leased estate, like-for-like profits are estimated to be up 2% compared with last year.

In brewing, Marston's said its beer brands had performed very strongly, with own-brand volumes up 13% for the financial year and profits in line with management expectations.

Ralph Findlay, chief executive officer, said: "Marston's has delivered another year of solid progress with underlying growth across all of our pub divisions and continued outstanding performance from our market-leading beer business. Trading has continued at similar levels since the year end, which is encouraging. In addition, our new pub-restaurants, lodges and Revere premium pubs all continue to perform well."

Marston's has about 1,560 managed, franchised and leased pubs across the country, and employs around 13,500 people.

Euro 2016 and Brexit makes no impact on Marston's >>

The Pubs Code comes into force >>

Marston's in double-digit profit and revenue growth >>

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