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Marston’s is set to welcome its second consecutive year of “significant” profit growth in FY25, with pre-tax profits expected to be ahead of expectations, after last year’s profits were up by 65%.
The pub group said this “step-change in profitability” was driven by a sustained margin expansion, with its focus on revenue management, labour efficiency and procurement initiatives.
Its full-year underlying EBITDA margins are expected to rise by more than 100 basis points year-on-year, as like-for-like sales grew 1.6% over the period, with growth continuing to outpace the total market.
Over the year, Marston’s completed 31 pub format refurbishments ahead of its 30-pub target, comprising 21 Two Door, five Grandstand and five Woodies. It added that its invested sites are trading strongly, delivering average initial revenue uplifts of 23%.
Looking ahead, the pub group said an accelerated capex programme is in place for FY26 which will aim to “build on this strong momentum” with a “significant” step up in format refurbishments over the next 12 months.
Justin Platt, CEO of Marston’s, said: “We have delivered another year of strong profit growth and significantly improved recurring free cash flow, providing us with continued opportunity to invest in our estate, reduce debt and unlock long-term value for shareholders.
“Our market-leading pub operating model has been central to delivering strong margin uplifts, while guest experience scores have reached record levels – a testament to the passion and dedication of our teams. Our differentiated pub-formats are already delivering impressive results with a defined plan to accelerate this further in FY2026.”
He added: “With clear strategic priorities and disciplined execution, we enter the new year with strong momentum. Our results demonstrate we are delivering as a high-margin hospitality business, and with our formats growth engine showing great promise, we are poised to drive further financial and strategic progress.”
