Year-end trading update
8 October 2014
MARSTON'S PLC
YEAR-END TRADING UPDATE
52 weeks to 4 October 2014
Marston's PLC issues the following update on trading for the year-ended 4 October 2014. The preliminary results will be announced on 27 November 2014.
Trading
We have made sound progress this year and expect to report underlying operating profit broadly in line with expectations.
In Destination and Premium, like-for-like sales were 3.1% ahead of the previous year including food like-for-like sales growth of 3.3% and like-for-like wet sales growth of 2.0%. Operating margin is ahead of the previous year and we completed 27 new pub-restaurants in the financial year, creating 1,350 jobs and including our 100th new-build opening since 2009. We expect to continue to develop our Destination estate at a similar rate of growth for the foreseeable future and have a good pipeline with at least 25 sites planned for completion in the 2015 financial year.
In Taverns, like-for-like sales were 2.1% ahead of the previous year. Our franchise business, which now operates in around 540 sites, continues to perform strongly.
In Leased, like-for-like profits are estimated to be up 3% against the comparative year.
In Brewing, own brand beer volumes were in line with last year, with strong performances in premium ales and the off-trade, where we continue to lead the market.
Commenting, Ralph Findlay, Chief Executive Officer said:
"We have made steady progress by consistently implementing our returns-focused strategy including an accelerated new-build programme, and in meeting our targets for disposals and conversions to franchise. We remain on track to complete the majority of this disposal and conversion activity by the end of financial year 2015, creating a pub estate appropriate to meet the needs of our customers in the long-term."
ENQUIRIES:
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Marston's PLC Tel: 01902 329516 |
Instinctif Partners Tel: 020 7457 2020 |
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Ralph Findlay, Chief Executive Officer |
Justine Warren |
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Andrew Andrea, Chief Financial Officer |
Matthew Smallwood |
NOTES TO EDITORS:
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Marston's is a leading pub operator and independent brewer. |
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It has an estate of around 1,700 pubs situated nationally, comprising managed, franchised and leased pubs. |
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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. |
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Marston's employs around 14,000 people. |
This information is provided by RNS
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