Marston's enjoys further financial year profitability
Marston’s says it has seen a step-change in its profitability.
Following a financial year which included 31 changes of pub formats, Marston's says it has seen a step-change in its profitability.
The pub operator, which has an estate of more than 1,300 pubs, has announced a trading update for the 52-week period to 27 September 2025.
It says underlying profit before tax is expected to be ahead of market expectations, marking a second consecutive year of significant profit growth, following the 65% uplift delivered in FY2024. Marston’s intends to announce its FY2025 results on 25 November 2025.
Its profitability has been underpinned by sustained margin expansion through its pub operating model, including revenue management, labour efficiency and procurement initiatives.
The 31 pub format refurbishments completed in the year comprise 21 Two Door, five Grandstands and five Woodies (pictured). Marston's says the invested sites are trading strongly, delivering average initial revenue uplifts of 23%.
"We have delivered another year of strong profit growth and significantly improved recurring free cash flow, providing us with continued opportunity to invest in our estate, reduce debt and unlock long-term value for shareholders," says Justin Platt, CEO of Marston’s PLC. "Our market-leading pub operating model has been central to delivering strong margin uplifts, while guest experience scores have reached record levels – a testament to the passion and dedication of our teams. Our differentiated pub formats are already delivering impressive results with a defined plan to accelerate this further in FY2026."
What's not to like-for-like?
Like-for-like sales for the full year grew 1.6%, with the pub business saying growth continues to outpace the total market.
An accelerated capex programme is in place for FY2026, with a significant step up in format refurbishments over the next 12 months.
"With clear strategic priorities and disciplined execution, we enter the new year with strong momentum," adds Platt. "Our results demonstrate we are delivering as a high-margin hospitality business, and with our formats growth engine showing great promise, we are poised to drive further financial and strategic progress."
You may also be interested in…
