In a trading update the year ended 1 October, Marston’s said it had made good progress with underlying profit before tax in line with management expectations.
In its Destination and Premium pubs, 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%. In the last 10 weeks of the period like-for-like sales grew 1.8%.
The group said that operating margin was in line with last year and it completed 22 new pubs and bars and six lodges in the financial year. In the year ahead, it plans to open at least 22 pubs and bars, along with five lodges.
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 its franchise estate.
In Leased, like-for-like profits were estimated to be up 2% compared to last year.
In Brewing, Marston’s beer brands saw own brand volumes up 13% with 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.”