Marston's estate buoyed by half-year results
Like-for-like sales at Marston’s were up 2.9% in the 31 weeks to 3 May.
Revenues and profits at pub business Marston's have both increased over the past six months, as the operator of 1,333 pubs reports its interim results.
Like-for-like sales were up 2.9% in the 31 weeks to 3 May, with growth of 10.5% in the five weeks since the period end.
Total revenue came in at £427.4m (H1 2024: £428.1m) despite c.£50m of disposals in FY2024. Underlying pub operating profit increased by 20.1% to £63.3m (H1 2024: £52.7m), which Marston's says was underpinned by strong operational delivery and strategic cost-saving measures.
Underlying profit before tax was £19m (H1 2024: £0.2m loss).
"The first half has been a period of significant momentum for Marston’s, with the execution of a market leading pub operating model, investment in our differentiated pub formats and progress in our digital transformation driving strong margin and profit growth," says Justin Platt, CEO of Marston’s PLC.
Making the most of events
Marston's says demand-driving events delivered enhanced customer engagement, with H1 highlights including a Paddington in Peru partnership and a Cool Hand Cup darts tournament with World No 1 and 2024 world champion Luke Humphries.
The business also saw a record Mother’s Day, with sales up 17% and drinks up 22% on last year - c.60,000 roasts sold and 6% more bottles of fizz than last year.
There were over 1m pints of draught beer sold over the recent Bank Holiday weekend, while more than half of its limited edition Best Ever Pub Pies with Michelin starred chef Tom Shepherd sold within first few weeks of a 12 week run.
"Through our impactful calendar of demand-driving events and the dedication of our passionate, local teams, we continue to deliver great guest experiences every day, powering our industry-leading guest reputation scores," adds Platt. "With strong recent trading across our nationwide estate of great local pubs, we are excited for the summer months ahead.
"We remain confident in achieving our financial goals for the full year and focused on executing our strategy as a pure play hospitality company to deliver sustainable growth and increasing returns for our shareholders."
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