Champers all around ?26 Jul 2023 07:20
Andrew Andrea, CEO, commented:
"Marston's has delivered another strong trading performance, validating the strategy we are implementing and demonstrating the appeal of our pubs. We are making good progress and are beginning to see the benefits of the actions we have taken in H1, simplifying our trading formats and repositioning our pub portfolio, as well as the investments we have made in our pub gardens and outside trading areas.
"In addition, we are encouraged by the success of the trial extending the partnership model into our food-led pubs. The trial has been positive and we will extend this model to over 50 food-led pubs in FY2024. Marston's pioneered the operator managed agreement in 2009, which now operates in over 700 wet-led pubs, and we are pleased to lead the evolution of this format and are excited about its future growth potential for our business.
"We remain focused on delivering on our debt reduction strategy and continue to make good progress in that regard. Whilst macro-economic challenges persist for the time being, we remain encouraged by the Group's trading resilience and that the pub remains an affordable treat for our guests. An improving cost outlook, together with the actions we are taking to maximise efficiencies, leaves Marston's well-placed to navigate through ongoing economic headwinds".