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Marston’s Increases Sales and Underlying Profits

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Marston’s Increases Sales and Underlying Profits

Marston’s Increases Sales and Underlying Profits
December 01
12:50 2011

Despite the difficult economic environment, UK regional brewer and pub operator Marston’s increased revenue by 4.8% to £682.2 million in the 52 weeks to October 1st 2011, with improvements in all three of its trading divisions – Marston’s Inns and Taverns, Marston’s Pub Company and Marston’s Beer Company. Group underlying operating profit increased by 3.8% to £154.3 million, with underlying profit before tax up 9.4% to £80.4 million.

 

Employing over 12,000 people throughout England and Wales, Marston’s has an estate of around 2,150 pubs, comprising tenanted, franchised and managed pubs. It is the UK’s leading brewer of premium cask and bottled ales.

 

During the year, Marston’s Inns and Taverns increased like-for-like sales by 2.9% with underlying operating margins up 0.7% and average profit per pub up 10%. Marston’s Pub Company lifted operating profit by 0.6%, with both traditional estate and Retail Agreements in profitable growth

 

Revenue at Marston’s Beer Company increased by 0.4% to £106.5 million and underlying operating profit edged up 0.6% to £16.3 million. Overall ale volumes were up 2% on last year, with premium cask ale volumes up 5% and bottled ale volumes up 6%.

 

“We achieved impressive sales and profit growth in each of our businesses despite the challenging consumer environment,” comments Ralph Findlay, chief executive of Marston’s. “Customers are looking for affordable treats, and our focus on value, service and quality in a traditional pub environment has proved successful. Our new-build pub-restaurants; the introduction of franchise agreements in around 350 pubs; and increased commercial support to our tenanted and free trade customers are all contributing to the achievement of our key objectives. The successful implementation of our strategy will mean that we will create around 1,000 new jobs in 2012.”

 

Earlier this year, Marston’s announced plans to transfer the management of its Retail Agreement sites to Marston’s Inns and Taverns, and to combine the commercial operations of Marston’s Pub Company and Marston’s Beer Company in one trading division – Marston’s Beer and Pub Company. These changes took effect on October 2nd 2011.

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