Trading Update (2902Z)
March 14 2012 - 3:00AM
UK Regulatory
TIDMMARS
RNS Number : 2902Z
Marston's PLC
14 March 2012
14 March 2012
MARSTON'S PLC
TRADING UPDATE
23 weeks to 10 March 2012
Marston's PLC issues the following Trading Update for the 23
weeks to 10 March 2012. The Interim results for the 26 weeks ended
31 March 2012 will be announced on 17 May 2012.
Trading
Our trading performance has remained resilient, reflecting the
continuing appeal of value, service and quality in attractive pubs.
After a good Christmas and New Year, market conditions have, as
anticipated, been somewhat more subdued against stronger prior year
comparatives which benefited in part from milder weather.
Profitability continues to be in line with our expectations and we
continue to make good progress in each of our trading
divisions.
In our managed pubs, like-for-like sales for the 23 week period
were 3.5% ahead of last year, including like-for-like food sales
growth of 3.9% and like-for-like wet sales growth of 3.4%.
Operating margin is in line with last year and our plan to build
around 25 pub-restaurants in the current financial year remains on
track.
In tenanted and franchised pubs, underlying profits continue to
increase with profits estimated to be 3% ahead of last year. Our
performance reflects the successful rollout of Retail Agreements in
our franchise estate, now in around 400 pubs, and robust trading in
the traditional tenanted estate.
Our own brewed beer volumes are up 2% versus last year. Our
focus on localness and premium ale continues to drive growth, with
premium cask ale up 2% and bottled ale up 10% in the period.
Net debt and cash flow are in line with our expectations.
Commenting, Ralph Findlay, Chief Executive Officer, said:
"We expect the consumer backdrop to remain weak in 2012, but
with potential for better trading periods around Euro 2012 and the
Queen's Diamond Jubilee. Our clearly defined strategy, underpinned
by our continued focus on value, service and quality has ensured a
resilient performance. We remain well positioned to make progress
towards our key objectives of sustainable growth, improved return
on capital and reduced leverage."
ENQUIRIES:
Marston's PLC Hudson Sandler
Ralph Findlay, Chief Executive Officer Andrew Hayes / Kate Hough
Andrew Andrea, Chief Financial Officer
Tel: 01902 329516 Tel: 020 7796 4133
NOTES TO EDITORS
-- Marston's is a leading pub operator and independent brewer.
-- It has an estate of around 2,150 pubs situated nationally; comprising
tenanted, leased, franchised and managed pubs.
-- It is the UK's leading brewer of premium cask and bottled ales, including
Marston's Pedigree and Hobgoblin. The beer portfolio also includes
Banks's, Jennings, Wychwood, Ringwood, Brakspear and Mansfield beers.
-- Marston's employs over 12,000 people throughout England and Wales.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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