Marston's managed pub like-for-likes ahead 2.2%
25 July, 2012
Marston's saw like-for-like sales in its managed pubs grow 2.2% in the 42 weeks to 21 July. In the most recent 10 weeks, LFL growth was 1.6%, with poor weather offsetting the benefits of the Jubilee, Father's Day and Euro 2012 football.
Like-for-like food sales growth was 2.4%, with drink sales up 2.1% over the 42 weeks. Operating margin was slightly above last year, the company said, and it was on track to complete 25 high return new-build pub restaurants in the current financial year.
Chief executive Ralph Findlay said: "Our performance has been satisfactory in recent weeks in view of the very wet weather conditions affecting summer trading. We have continued to make progress across the business, with profitability in line with our expectations.
"It demonstrates that our focus on offering great value for money underpinned by high service levels remains attractive to our customers despite the wider economic challenges. By the end of this financial year we will have built around 60 new pub-restaurants in three years, and we have a clear site pipeline for future development."
The Midlands-based pub operator and brewer also reported that in its tenanted and franchised pubs underlying trends continued to improve with operating profit estimated to be 3.2% ahead of last year. This reflected a strong performance in the franchise estate, which now operates in around 450 pubs, and continued stability and modest growth in the traditional tenanted and leased estate.
In brewing, Marston's continued to increase market share with own-brewed beer volumes up around 2% versus last year.
Full statement at www.marstons.co.uk/
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