The World Cup saw Marston’s wet-led pubs benefit significantly, despite a dip in premises where food dominates, the company said in a trading update.
Total managed and franchised pub sales were up 5.2% in the 42 weeks to July 21, including like-for-like sales growth of 0.3% and a contribution from Marston’s pub expansion programme.
In the most recent 16 weeks, like-for-like sales were up 0.9%, helped by good weather and the football, but with some offset from poor weather in April. Post April, overall like-for-like sales growth over the last 12 weeks has been 2%, with fine weather benefiting the group’s Taverns.
The Taverns were particularly good for World Cup watching, with managed and franchised like-for-like sales for the 42-week period 3.8% ahead of last year, including growth of 5% in the last 16 weeks.
Marston’s Beer Company achieved strong growth, with total volumes up around 61% in the 42-week period and good growth in the underlying business. It is continuing to realise benefits from the acquisition of Charles Wells Brewing and Beer Business. The portfolio, which includes a range of premium ales, world lagers and craft beers, increased market share.
The company remains on track to meet openings growth targets for 15 pub restaurants and bars, and six
lodges, in the current financial year.
Stronger performance
Chief executive, Ralph Findlay, said: “We are encouraged by our stronger trading performance in the second half-year, including the benefit of recent good weather and the impact of the World Cup in our Taverns estate and in Marston’s Beer Company.
“We have a strong pipeline of sites which will contribute to continued growth in pubs, and see further opportunity in brewing following the acquisition and successful integration of Charles Wells Brewing and Beer business in 2017.
“Our strategic objectives and progressive dividend policy remain appropriate for current market conditions, and we remain confident of delivering underlying earnings in line with expectations for the full year.”
