Marston’s PBT up 64.5% to £42.1m

Marston’s has revealed that its underlying profit before tax rose 64.5% to £42.1m for the year ended 28 September 2024.

Moreover, the company’s pub operating profit was up 17.9% to £147.2m compared with a figure of £124.8m in the same period last year.

Alongside this, its revenues were up 3.0% to £898.6m, up from £872.3m in the previous year.

Its LFL sales also rose 4.8%, consistently outpacing the broader market, with growth in both food and drink sales.

Marston’s stated that the sale of 40% stake in CMBC was a defining moment for the group, creating a pure-play hospitality business wholly focused on running and operating pubs.

Justin Platt, CEO of Marston’s PLC, said: “2024 has been a defining year for Marston’s as we began an exciting new chapter as a leading pure-play hospitality business. 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 strong financial results. We’ve delivered like-for-like sales growth ahead of the market, significant margin improvements and robust cash flow, while current trading is encouraging with Christmas bookings already ahead of last year.”

He added: “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.”