Marston’s sales increase 5.8% in FY24

Marston’s total retail sales increased 5.8% according to its preliminary results for the 52 weeks to 28 September 2024. 

The UK operator of 1,339 pubs said it also saw its like-for-like sales increase 4.8%, outperforming the broader market. 

The group said that both food and drink have shown “good momentum” over the period, with food sales “particularly encouraging” due to the company’s high offering and simplified menus. 

In the 13-week period ending 28 September, like-for-like sales increased 3.8% despite the wet weather conditions towards the end of the period. Food sales performed “exceptionally well”.

The combination of the group’s trading performance, its disposals strategy and the sale of its 40% share in CMBC, have enabled a material reduction in net debt. The group now expects net debt for the full year to be approximately £885m, a reduction of £300m on FY23. 

The pub company also believes that profitability for FY24 will be in line with market consensus of underlying PBT of £40.5m.

Justin Platt, CEO of Marston’s, said: “The strong revenue performance is very pleasing. 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 Marston’s growth opportunity at our investor day next week.”