Marston's PLC Trading Update (0646M)
July 26 2017 - 02:00AM
UK Regulatory
TIDMMARS
RNS Number : 0646M
Marston's PLC
26 July 2017
26 July 2017
MARSTON'S PLC
TRADING UPDATE
42 weeks to 22 July 2017
Marston's PLC (the "Group") issues the following Trading Update
for the 42 weeks to 22 July 2017.
Trading
In Destination and Premium, like-for-like sales for the 42 week
period were 1.3% ahead of last year. In the most recent 12 weeks of
the period, like-for-like sales were up 0.6% which continues to be
ahead of the market. As we previously guided, operating margins are
slightly below last year in line with our expectations. With regard
to the cost outlook for 2018 our guidance remains unchanged from
that provided at our Interim results in May.
We remain on track to meet our growth targets for 23 new
pub-restaurants and bars in the current financial year in addition
to eight lodges.
In Taverns, like-for-like sales for the 42 week period were 1.9%
ahead of last year, with growth of 2.4% in the last 12 weeks of the
period, principally reflecting the benefits of the warm weather in
June.
In Leased, profits for the 42 week period are estimated to be 2%
ahead of last year.
In Brewing, own-brewed beer volumes were up around 4% compared
to last year reflecting the continued good performance of our
underlying business and the benefits of the acquisition of Charles
Wells Brewing and Beer Business. The integration of the business is
proceeding as planned.
Commenting, Ralph Findlay, Chief Executive Officer, said:
"We remain encouraged by our continued market outperformance and
focused on delivering sustainable growth and maximising return on
capital in an evolving market place.
"Our transformed pub estate continues to deliver positive like
for like growth across all three divisions. We benefit from an
operating structure which spans food-led destination and wet-let
community pubs, accommodation and brewing, maintaining a good
balance within our brand portfolio and broad consumer appeal.
"The Charles Wells brewing and beer business is bedding in well,
further underpinning our leadership in the UK ale market. We are on
track to complete our new-build and lodge expansion plans. We
remain confident of delivering further profitable progress for the
full financial year."
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 10 October 2017
2017 Preliminary results 30 November 2017
2018 Interim results 16 May 2018
2018 Preliminary results 29 November 2018
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 around 1,550 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.
Following the acquisition of Charles Wells brewing business,
Marston's has added Bombadier, Courage and McEwan's to its brand
portfolio most recently, as well as the license to brew and
distribute Estrella Damm and Young's beers.
-- Marston's employs around 13,000 people.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTMMGZNKKVGNZM
(END) Dow Jones Newswires
July 26, 2017 02:00 ET (06:00 GMT)
Marston's (LSE:MARS)
Historical Stock Chart
From Feb 2024 to Mar 2024
Marston's (LSE:MARS)
Historical Stock Chart
From Mar 2023 to Mar 2024