Marston's managed pub like-for-likes up 2.9%
27 July, 2011
Marston's saw like-for-like sales in its managed pub business grow 2.9% in the 42 weeks to 23 July, it said this morning. Like-for-like food sales were up 5.0%, with drink ahead 1.8%. Like-for-likes in the last 10 weeks were up 2.0% against strong trading over the same period last year, which included the World Cup and good weather, it added.
The pub operator and brewer said that operating margin in its managed estate had also improved compared to last year. It added that it had opened 10 new pub-restaurants in the period with the remainder of its 2011 programme 'on site'. The performance of its new openings continued to be ahead of original targets.
Underlying profit trends at Marston's tenanted and leased pubs division had also continued to improve, it said, with like-for-like profits estimated to be 0.5% ahead of last year. "This steady improvement is attributable primarily to the rollout of the franchise-accredited Retail Agreement, which is now operating in around 300 pubs," a spokesman said.
In Marston's Beer Company, its own-brewed beer volumes are up around 2% versus last year, outperforming a declining market. "Our focus on localness and premium ales contributed to this growth with premium cask ale up 4%," added the spokesman. Its brands include Pedigree, Hobgoblin, Jennings, Ringwood, Brakspear and Banks's.
Chief Executive Ralph Findlay said: "We are encouraged by the resilience of our business. Our focus on offering value for money with high service standards in a quality pub environment is generating strong consumer appeal and maximising returns on our investment programmes."