Marston's PLC AGM and Trading Update (9326M)
January 26 2016 - 1:00AM
UK Regulatory
TIDMMARS
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 GBP30k 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 GBP3 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 Tel: 01902 329516 Instinctif Tel: 020 7457
PLC Partners 2020
Ralph Findlay, Chief Executive Justine Warren
Officer
Andrew Andrea, Chief Financial Matthew Smallwood
Officer
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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