Marston’s has announced its preliminary results for the 52 weeks to 30th September 2017, describing the year in which it acquired the Charles Wells Beer Business as having been a “solid performance”.
Highlights:
• Turnover up 10% to c.£1bn
• PBT growth of 3%, EPS up 2%
• Dividend up 3% to 7.5p per share
• Proforma leverage down and fixed charge cover maintained
2. Transformed estate in growth
• Like-for-like sales growth in all businesses
• Profit per pub +2%
• 19 pubs and bars and 8 lodges opened
3. Brewing in growth
• Continued beer volume growth
• Market share gains in on and off trade
4. Acquisitions in second half year
• Charles Wells Beer Business (“CWBB”)
• 9 Destination and Premium Pubs and Bars
Commenting, Ralph Findlay, CEO said:
“We have achieved strong revenue growth and higher earnings, despite increasing employment and property costs. Our business has been transformed in recent years with a significant improvement in the quality of both our pub and beer businesses. While political and economic uncertainty is likely to continue, we remain confident that our proposition founded on providing great customer experiences, the very best service and value for money, leaves Marston’s positioned to deliver further growth in the year ahead.”