Marston’s Breaks Through £1.1 Billion Revenue Barrier

 Breaking News
  • Change of Leadership at Edrington Edrington, the international premium spirits company, has announced that chief executive officer Ian Curle will retire in March 2019 after 15 years in that role. His successor will be Scott McCroskie, who is currently a member of the Edrington board and managing director of The Macallan. Ian Curle joined the business in 1986 through Edrington’s subsidiary [...]...
  • Guinness to Sponsor Six Nations Rugby The iconic global brand Guinness is to become the new title sponsor of the Six Nations, with the Championship to be known as the Guinness Six Nations from 2019. The Six Nations is one of the world’s best attended sports events and regularly attracts record TV and online audiences in the UK, France, Ireland, Italy [...]...
  • Mondelēz International Expands its Global Technical Center in Poland Mondelēz International has announced a new investment in its Global Technical Center in Wroclaw, Poland. Only 1.5 years after the center opening, the company invested a further $5 million, in addition to the initial $17 million investment, to expand the research and development activities beyond Chocolate and Bakery and serve Gum and Candy innovation. This state-of-the-art facility will now serve [...]...
  • Givaudan Launches a New Innovation Platform Givaudan, the global leader in flavours and fragrances, has launched MISTA, a new innovation platform for the food industry. More encompassing than an incubator or accelerator, MISTA is an optimiser, enabling start-ups and established corporations to optimise ideas, products, people and investments. Located in San Francisco, MISTA will open its physical premises in early 2019. With [...]...
  • Cargill Celebrates a Decade of Sustainability and Innovation in Ghana With Investment Plans and Farmer Support Cargill’s cocoa & chocolate business has commemorated its 10th anniversary in Ghana by announcing plans for future investment and farmer support. Cargill’s 2022 roadmap for Ghana includes: * 80,000 farmers receiving capacity building support and facilitated access to inputs through our Farmer Field Schools * The provision of one million new cocoa seedlings for rehabilitation of old farms [...]...

Marston’s Breaks Through £1.1 Billion Revenue Barrier

Marston’s Breaks Through £1.1 Billion Revenue Barrier
November 23
10:35 2018

Marston’s, the UK pub operator and brewer, has reported record revenue and underlying profit before tax growth for the 52 weeks ended 29 September 2018. Total underlying revenue increased by 14.9% to £1.140 billion, reflecting the rollover benefits of the acquisition of the Charles Wells Beer Business from the previous year, new distribution contracts in its brewing operation, the positive impact of new openings and pub acquisitions, together with positive like-for-like sales in Marston’s pub business. Underlying operating profit rose 4.6% to £182.5 million.

Underlying profit before tax was up 3.9% to £104.0 million, aided by the strong performance of the group’s Brewing and Taverns divisions. On a statutory basis, revenue was up 13% and profit before tax was £54.3 million.

Total revenue at the Destination and Premium division increased by 2.9% to £450.7 million reflecting the performance of new-build pub-restaurants offset by a decline in like-for-like sales. Underlying operating profit of £89.4 million was up 0.6%. Profit per pub is 3% down compared to the previous year.

Total revenue increased by 3.6% to £312.0 million at the Taverns division, principally reflecting like-for-like sales growth in the year in its managed and franchised pubs. Operating profit was up 2.4% on last year reflecting growth in the core business offset by disposals. Profit per pub was up 4% on last year.

In the Brewing division total revenue increased by 49.3% to £377.7 million, principally reflecting the annualised benefit of the acquisition of Charles Wells Beer Business in June 2017 and the benefits of the new distribution contracts secured in the year. Underlying operating profit increased by 25.5% to £32.0 million.

Ralph Findlay, chief executive of Marston’s, comments: “Marston’s has performed well in a difficult market. Our balanced business model has stood us in good stead, delivering record sales and underlying profits with revenue exceeding £1.1 billion for the first time. Our Taverns wet-led community pubs and market-leading brewing business had an outstanding year, more than offsetting the effects of weather volatility and the World Cup on our food-led pubs.

“Macro-economic and political uncertainty is reflected in our capital plans this year. However, the outlook for good pubs and brewing remains attractive and Marston’s is well placed to leverage the opportunity this presents with our high quality, well invested estate, leading brands and great people. We expect to make positive progress once again in the current financial year.”

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here