Marston’s toasts pubs profit increase

17th May 2023 | Jack Oliver

Marston’s has recorded an increase in revenue and profit for the first half of its financial year.

In the 26 weeks to April 1, revenue increased from £369.7m to £407m, and operating profit rose from £39.9m to £43.1m.

Marston’s, which operates 1,440 pubs, also said that current trading was positive, with like-for-like sales in the last six weeks ahead of last year by 7.9%, boosted by strong Easter and bank holiday weekends.

The pub operator said it had made good progress on its target to hit £1bn in revenue by 2026.

It added that operating profit was in line with expectations, and predicts further cash generation and debt reduction.

Marston’s had also generated £24.3m from strategic disposals to date, and anticipates disposals to produce between £50m and £60m over the course of the financial year.

Andrew Andrea, CEO of Marston’s, said: “The strategy which we outlined 18 months ago is progressing well and generating positive results which is pleasing. Our H1 performance clearly demonstrates that consumers remain as keen as ever to celebrate – and socialise within – the Great British pub. The macro environment is becoming increasingly stable and recent evidence suggests that both the cost outlook, and consumer confidence, are steadily improving.”


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