Marston's PLC AGM Trading Update (8847U)
January 24 2017 - 2:00AM
UK Regulatory
TIDMMARS
RNS Number : 8847U
Marston's PLC
24 January 2017
24 January 2017
MARSTON'S PLC
AGM TRADING UPDATE
Marston's PLC issues the following Trading Update for the 16
week period to 21 January 2017 in advance of the Company's Annual
General Meeting to be held at noon today.
Trading
Our performance in the financial year to date has been
encouraging, including good trading over the Christmas and New Year
period despite tough comparatives.
In Destination and Premium, like-for-like sales were 1.5% ahead
of last year including like-for-like food sales growth of 0.6%, wet
like-for-like sales growth of 1.4% and strong growth in room
income. Importantly, operating margins are in line with last year.
Our plans to open at least 20 new pub-restaurants and bars and five
lodges in the current financial year are on track.
In Taverns, managed and franchise pub like-for-like sales were
1.5% ahead of last year.
In Leased, profits are estimated to be around 2% ahead of last
year.
In Brewing, our strong brand portfolio has performed well with
own-brewed volume up 3% in the year to date and operating margins
slightly ahead of last year.
Since it is still early in the financial year our expectations
for the full year are unchanged. We will announce our Interim
Results for the 26 weeks to 1 April 2017 on 17 May 2017.
Ralph Findlay, Chief Executive, commented:
"We traded well over the Christmas period with like-for-like
sales growth for the fifth successive year despite tough
comparatives. In Brewing, we have continued to outperform and once
again have achieved good growth with a particularly strong
performance in the off-trade."
ENQUIRIES:
Marston's PLC Tel: 01902 329516 Instinctif Partners Tel: 020 7457
2020
Ralph Findlay, Chief Executive Officer Justine Warren
Andrew Andrea, Chief Financial Officer Matthew Smallwood
NOTES TO EDITORS
* Marston's is a leading pub operator and independent
brewer.
* It has an estate of 1,569 pubs situated nationally,
comprising managed, franchised and leased pubs.
* It is the UK's leading brewer of premium cask and
bottled ales, including Marston's Pedigree,
Wainwright and Hobgoblin. The beer portfolio also
includes Banks's, Jennings, Wychwood, Ringwood,
Brakspear and Mansfield beers.
* Marston's employs around 14,000 people.
This information is provided by RNS
The company news service from the London Stock Exchange
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