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Pub firm’s delight at financial results

By Burton Mail  |  Posted: May 15, 2014

Views of Burton on Trent, taken from the Coors Tower on Wellington Rd

Marstons

Views of Burton on Trent, taken from the Coors Tower on Wellington Rd Marstons

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BOSSES at a Burton-based brewer are celebrating after announcing a bumper set of half-year financial results.

Marston’s, based in Shobnall Road, revealed that both revenue and profit had risen dramatically in the 26 weeks to April 5.

Strong rises in like-for-like sales across its business helped the firm predict that it hopes to continue to make ‘positive progress’ in the second half of the year.

Chief Executive Ralph Findlay spoke to the Mail about the impact of the figures.

He said:“The first half year was good and current trading is strong.

“We are creating a higher quality pub estate which is delivering positive trading momentum and meets the expectations of today’s customers.

“We opened 11 new pub-restaurants in the first half and remain on track to open at least 27 in total this year.

“Our 100th new pub built since 2009 will open this summer, with 5,000 jobs having been created.

“We are beginning to see some evidence of consumer confidence returning in the regions, leaving us confident of making positive progress for the remainder of the year.”

Total underlying revenue was 4.5 per cent per cent higher than last year.

The firm said that this reflected the contribution from new pub-restaurants, strong like-for-like sales and growth in brewing.

Underlying profit before tax increased by 9.4 per cent to £29.0 million.

During the period, Marston’s disposed of 286 pubs and similar properties generated proceeds of £115.7 million.

The firm said that it remains on track to open at least 27 sites this year, having opened 11 to date.

It aims to open 25 to 30 pubs in 2015 and 2016, with sites also being acquired for longer-term development.

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