Earnings Release • Jan 26, 2016
Earnings Release
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RNS Number : 9326M
Marston's PLC
26 January 2016
26 January 2016
MARSTON'S PLC
AGM AND TRADING UPDATE
Marston's PLC issues the following Trading Update for the 16 week period to 23 January 2016 in advance of the Company's Annual General Meeting to be held at noon today.
Trading
Our performance in the financial year to date has been encouraging, including good trading over the Christmas and New Year period.
In Destination and Premium, like-for-like sales were 3.0% ahead of last year including like-for-like food sales growth of 2.5% and wet like-for-like sales growth of 3.4%. In the key two week Christmas trading period to 2 January trading was good with like-for-like growth of 4.9% despite tough comparatives. Operating margins are ahead of last year. Our plans are on track to open at least 20 new pub-restaurants and five lodges in the current financial year, with seven pub and three lodge openings expected in the first half.
In Taverns, managed and franchise pub like-for-like sales were 2.7% ahead of last year, with 5.0% growth over the Christmas fortnight. The evolution of the franchise model continues to be a key driver of growth, and has been extended into higher turnover pubs, with the highest turnover franchise pub achieving £30k per week over the holiday period.
In Leased, profits are estimated to be around 3.0% ahead of last year.
In Brewing, our strong brand portfolio has performed well with own-brewed volume up 21% in the year to date, underpinned by a very strong performance in the off-trade.
We will announce our Interim Results for the 26 weeks to 2 April 2016 on 18 May 2016.
Ralph Findlay, Chief Executive, commented:
"Once again we traded well over the Christmas period with record sales over the key Christmas fortnight for the fourth year in succession, maintaining our record of market out-performance, including pub retail sales of over £3 million on Christmas Day for the first time. This performance demonstrates the appeal of our pubs and the value for money we offer, underpinned by excellent service. In Brewing, our principal brands and new beers contributed to an excellent first quarter."
ENQUIRIES:
| Marston's PLC | Tel: 01902 329516 | Instinctif Partners | Tel: 020 7457 2020 |
| Ralph Findlay, Chief Executive Officer | Justine Warren | ||
| Andrew Andrea, Chief Financial Officer | Matthew Smallwood |
NOTES TO EDITORS
| ○ | Marston's is a leading pub operator and independent brewer. |
| ○ | It has an estate of around 1,600 pubs situated nationally, comprising managed, franchised and leased pubs. |
| ○ | It is the UK's leading brewer of premium cask and bottled ales, including Marston's Pedigree and Hobgoblin. The beer portfolio also includes Banks's, Jennings, Wychwood, Ringwood, Brakspear, Thwaites' and Mansfield beers. |
| ○ | Marston's employs around 13,000 people. |
This information is provided by RNS
The company news service from the London Stock Exchange
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