Marston's PLC Trading Update (3142F)
July 27 2016 - 2:00AM
UK Regulatory
TIDMMARS
RNS Number : 3142F
Marston's PLC
27 July 2016
27 July 2016
MARSTON'S PLC
TRADING UPDATE
42 weeks to 23 July 2016
Marston's PLC "the Group" issues the following Trading Update
for the 42 weeks to 23 July 2016.
Trading
We have continued to make progress in line with our
expectations.
In Destination and Premium, like-for-like sales for the 42 week
period were 2.5% ahead of last year, including like-for-like food
sales growth of 2.1% and like-for-like wet sales growth of 2.6%. In
the most recent 16 weeks of the period, like-for-like sales were up
1.8% despite the anticipated adverse impact of the Euro 2016
football tournament on these predominantly food-led pubs.
We remain on track to meet our growth targets for 22 pub
restaurants and bars in the current financial year in addition to
six lodges.
In Taverns, like-for-like sales for the 42 week period were 2.8%
ahead of last year, with growth of 2.5% in the last 16 weeks of the
period. Euro 2016 has contributed to this continuing strong
performance and helped to offset mixed weather.
In Leased, profits for the 42 week period are estimated to be 2%
ahead of last year. As previously stated, the Pubs Code introduced
by the Government in July 2016 is not expected to have a material
impact on the leased estate.
In Brewing, own-brewed beer volumes were up around 14% compared
to last year.
Net debt and cash flow are in line with expectations.
Commenting, Ralph Findlay, Chief Executive Officer, said:
"We continue to be encouraged by our performance. As expected,
Euro 2016 was broadly neutral for the Group as a whole and we have
continued to maintain our market outperformance by focusing on
offering our customers great experiences and value in modern pubs
and bars. In Brewing, we are growing in an attractive market,
demonstrating the effectiveness of our new product development and
the appeal of our brand portfolio, underpinned by industry-leading
service.
Although much has been written about the potential effect of
Brexit on consumer confidence, we have not seen any discernible
impact on trading to date. We believe that our focus on value and
affordable treats is appropriate for current market conditions, and
while we remain ever mindful of the risks to long term business
confidence, it continues to be our intention to develop and
implement our proven growth strategy."
Forthcoming Events
Please find below the forthcoming reporting dates for the Group,
which are also available on the investor calendar on our website -
www.marstons.co.uk/investors
Year-end trading statement 12 October 2016
2016 Preliminary results 24 November 2016
2017 Interim results 17 May 2017
2017 Preliminary results 30 November 2017
ENQUIRIES:
Marston's PLC Tel: 01902 Instinctif Partners Tel:
329516 020 7457 2020
Ralph Findlay, Chief Executive Justine Warren
Officer
Andrew Andrea, Chief Financial Matthew Smallwood
Officer
NOTES TO EDITORS
-- Marston's is a leading pub operator and independent brewer.
-- It has an estate of around 1,500 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, Thwaites Wainwright, Lancaster
Bomber and Hobgoblin. The beer portfolio also includes Banks's,
Jennings, Wychwood, Ringwood, Brakspear and Mansfield beers.
-- Marston's employs around 13,000 people.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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