The sale of its 40% stake in CMBC marked a defining moment for Marston’s, the company has said, revealing its results for the year to 28th September.
Revenue rose by 3% to £898.6 million, with like-for-like sales up 4.8%, outpacing the broader market, with growth in both food and drink sales.
Underlying pub operating profit was up 17.9% to £147.2m, with strong topline performance and operational efficiencies delivering improvement in underlying profitability.
Underlying profit before tax of £42.1m represented growth of 64.5%. Statutory profit before tax was £14.4m.
“2024 has been a defining year for Marston’s as we began an exciting new chapter as a leading pure-play hospitality
business,” said chief executive Justin Platt.
“The sale of our stake in CMBC has been transformational, enabling us to significantly reduce debt, increase our flexibility and focus on what we do best: running great local pubs.
“This single-minded focus, combined with our rejuvenated strategy, is already showing in strong financial results. We’ve delivered like-for-like sales growth ahead of the market, significant margin improvements, and robust cashflow, while current trading is encouraging, with Christmas bookings already ahead of last year.
“Community-based pubs like ours play an essential role in UK society, backed by our hardworking local teams, who give our guests great experiences every single day. All this gives Marston’s a superb foundation for sustainable, long-term growth, and fills us with confidence for 2025 and beyond.”
