Marston’s, which operates 1,339 pubs, has announced a trading update for the 52 weeks to 28th September, with retail sales up 5.8%.
Both food and drink occasions have shown good momentum, with food sales particularly encouraging.
In the 13-week period ending 28 September 2024, like-for-like sales increased 3.8%, a strong result that comes despite the very wet weather towards the end of the period.
The combination of a strong trading performance, a disposals strategy, and the sale of the 40% share in Carlsberg Marston’s Brewing Co, and the CMBC dividend received for the first half of the year, has enabled a material reduction in net debt.
“The strong revenue performance is very pleasing,” said chief executive Justin Platt. “This reflects the quality of the experiences we are providing for our guests, as well as the continued focus and passion of our team.
“This performance, combined with our recent disposal of CMBC, puts Marston’s in a strong position to drive value for our shareholders as a focused pub business. We look forward to sharing more about the Marston’s growth opportunity at our investor day next week.”
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