Marston's PLC Year-End Trading Update (2755M)
October 12 2016 - 2:00AM
UK Regulatory
TIDMMARS
RNS Number : 2755M
Marston's PLC
12 October 2016
MARSTON'S PLC 12 October 2016
YEAR-END TRADING UPDATE
Marston's PLC ("the Group") issues the following update on
trading for the year ended 1 October 2016. The preliminary results
will be announced on 24 November 2016.
Trading
We have made good progress this year with underlying profit
before tax in line with management expectations.
In Destination and Premium, like-for-like sales were 2.3% ahead
of last year including food like-for-like sales growth of 1.7% and
wet like-for-like sales growth of 2.3%, underpinned by strong
growth in room income. In the last 10 weeks of the period
like-for-like sales have grown 1.8%. Operating margin is in line
with last year and we completed 22 new pubs and bars and six lodges
in the financial year just ended. In the 2017 Financial Year we
plan to open at least 22 pubs and bars and at least five lodges
with the openings programme weighted towards the second half year.
We continue to have a good pipeline of sites to maintain similar
levels of expansion for the foreseeable future.
In Taverns, like-for-like sales were 2.7% ahead of last year,
with growth of 2.0% in the last 10 weeks including a strong
performance in our franchise estate.
In Leased, like-for-like profits are estimated to be up 2%
compared to last year.
In Brewing, our beer brands have performed very strongly, with
own-brand volumes up 13% for the financial year and profits in line
with management expectations.
Ralph Findlay, Chief Executive Officer, commented:
"Marston's has delivered another year of solid progress with
underlying growth across all of our pub divisions and continued
outstanding performance from our market-leading beer business.
Trading has continued at similar levels since the year end which is
encouraging. In addition, our new pub-restaurants, lodges and
Revere premium pubs all continue to perform well.
Looking forward, our estate is well balanced and we have a
well-developed, strong pipeline of sites to continue our current
level of expansion."
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
and Corporate
Development Officer
NOTES TO EDITORS
-- Marston's is a leading pub operator and independent brewer.
-- It has an estate of around 1,560 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 13,500 people.
This information is provided by RNS
The company news service from the London Stock Exchange
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