Marston’s creates 1,350 jobs in a year

BREWER and pubco Marston’s says it has made “sound progress” and expects to report and underlying operating profit broadly in line with expectations.

In a trading update for the year ended October 4, the Wolverhampton-based firm said it completed 27 new pub-restaurants in the financial year including its 100th new-build opening since 2009. Some 1,350 jobs were created as a result.

In destination and premium, like-for-like sales were 3.1% ahead of the previous year including food like-for-like sales growth of 3.3% and like-for-like wet sales growth of 2%. 

Operating margin is ahead of the previous year and Marston’s expects to continue to develop its destination estate at a similar rate of growth for the foreseeable future and says it has a good pipeline with at least 25 sites planned for completion in the 2015 financial year.

In taverns, like-for-like sales were 2.1% ahead of the previous year. 

“Our franchise business, which now operates in around 540 sites, continues to perform strongly,” Marston’s said.

In leased, like-for-like profits are estimated to be up 3% against the comparative year.

In brewing, own brand beer volumes were in line with last year, with strong performances in premium ales and the off-trade.

Ralph Findlay, Marston’s chief executive officer said: “We have made steady progress by consistently implementing our returns-focused strategy including an accelerated new-build programme, and in meeting our targets for disposals and conversions to franchise. 

“We remain on track to complete the majority of this disposal and conversion activity by the end of financial year 2015, creating a pub estate appropriate to meet the needs of our customers in the long term.”