Pubco toasts rise in turnover and profits

Wolverhampton pubco, Marston’s, is set to announce a rise in revenue and profits for the year ending September 30.

In a preliminary statement issued this morning (December 5), the operator of 1,414 pubs said that turnover will rise to £872.3m for the period, while profit before tax will come in at £35.5m.

The company has described both food and drink sales as “encouraging”.

William Rucker, chair, said: “We have continued to make positive progress on our key goals and strategic initiatives. The consumer has remained resilient despite the macro backdrop and Marston’s continues to trade well, achieving market outperformance.

“We anticipate an improving outlook in which cost headwinds are largely abating and like-for-like sales are up over 7% since the year end. This, together with the actions we have taken this year to drive further efficiencies, leave us confident that Marston’s remains well-placed to continue to outperform and to grow revenue, margin and profitability.

“We look forward to welcoming Justin Platt who joins the Group as CEO in January. The business is in good shape and well-positioned to take advantage of the future opportunities open to us to create value for our shareholders under his stewardship.”