BLACK Country pubco Marston’s has seen a steady performance across its portfolio, with a small decline tenanted pub profits, it reports today.
In an interim management statement for the 16 weeks to January 22, 2011, the Wolverhampton plc said it had “achieved an encouraging and robust performance” despite last month’s bad weather.
Like-for-like sales in Marston’s Inns and Taverns, its managed pubs division, were 2.1% ahead of last year, including a growth in food sales of 4.4% and drinks sales of 1.2%.
Like-for-like sales in the Christmas trading period, from 23 December to 3 January, were up 11.2%.
Marston’s Pub Company, the firm’s tenanted and leased pubs division, saw a drop of 1% in profits compared with last year, a rise from the 4% decline witnessed two years ago.
It said the improvement was primarily attributable to the continuing rollout of the franchise-style retail agreement, now operating in 160 pubs.
Volumes were up by 6% in its own brewed beer division, Marston’s Beer Company, which it said compared favourably to a UK ale market dive of around 7%.
The company, which holds is AGM today, added: “We have opened two new pub-restaurants in 2011 with eight developments on site.
“We expect to open 20 pubs in 2011 and 25 in 2012. The performance of the 15 pubs opened in 2010 continues to be good and ahead of our original targets.”
Marston’s estate comprises 1,663 tenanted or leased pubs and 485 managed pubs, employing over 12,000 people in England and Wales.
