New chairman for Marston’s as interim profits dip
MIDLAND pubco Marston’s has recruited the head of internet gaming business Gamesys to be its new chairman.
The company said that Roger Devlin would succeed current chairman David Thompson when he steps down from the board in September.
Devlin is also chairman of sports media group, SIS and Porthaven Nursing Homes. In 2012 he was appointed the first Independent NED by the Football Association. He was also chairman of the Principal Hayley Group, a leading hotel and conference venue operator until its sale to Starwood Capital in February 2013, and until 2011 served as a Non-Executive Director of National Express and RPS Group.
David Thompson said: “It is a pleasure to hand over the chairmanship to Roger Devlin. He brings to Marston’s his intellectual rigour and extensive board experience. He has thorough knowledge of hospitality and leisure, and his background in sport and on-line businesses will add to our relationships with our customers.”
Ralph Findlay, Marston’s Chief Executive Officer, said Devlin brought significant and relevant experience to the role which would be tremendously valuable as the company developed.
Devlin said: “Marston’s is a great business generating industry leading returns through the vigorous implementation of a consistent strategy well suited to today’s trading environment. I look forward to working with the team to build on this success.”
News of the appointment came as the pubco revealed interim group revenue had risen to £358.1m (2012: £342.1m), with underlying operating profit down slightly at £66.6m (2012: £67.6m).
Underlying pre-tax profit fell to £27.6m (2012: £33.5m), which the company said reflected higher finance costs.
“Although the first half of this year has been significantly impacted by the poor weather in January and March, our focus on quality and good service at reasonable prices is what consumers are looking for,” said Findlay.
“This underpins our clearly defined and proved strategy as we continue to drive growth through building new pub-restaurants, developing franchises, and benefiting from market trends in brewing. Trading in the second half year has started well, and we remain confident of achieving our full-year targets.”
