Last checked at 23 Jan 2024 07:00
23 January 2024
MARSTON'S PLC
('Marston's' or 'the Group')
Strong Christmas trading has driven LFL sales growth in the year to date of +8.1%
Marston's PLC issues the following update for the 16-week period to 20 January 2024 ahead of the Annual General Meeting to be held at 10am today.
All sales comparisons are compared to the same period in FY2023.
Total retail sales in the Group's managed and franchised pubs for the 16-week period were +8.8% on last year. Both drink sales and food sales have been strong, demonstrating the resilience and appeal of our predominantly suburban pubs.
Like-for-like sales for the 16-week period to 20 January 2024 were +8.1%, reflecting strong trading over the festive period. Like-for-like sales in the first nine weeks of the 16-week period to 2 December 2023 were +7.4% as previously reported, with positive trading momentum continuing into the festive period. In the following seven weeks, like-for-like sales were +8.4%.
For the key festive days (Christmas Eve, Christmas Day, Boxing Day, New Year's Eve), like-for-like sales were up +9.6%.
Justin Platt, CEO of Marston's, commented:
"I am pleased to report a strong trading performance with like-for-likes up 8.4% over the festive period. It has been an encouraging start to the year. This, together with an improving outlook in which inflationary headwinds are broadly abating, and the actions we are taking to operate more efficiently and rebuild margins, position Marston's well for the year ahead."
"I am delighted to have joined Marston's and am excited about the opportunity ahead. This is a great business and, whilst still early days, I've been impressed by the dedication, talent and expertise of the team. I look forward to getting to know both the team, and the business, better over the weeks and months ahead and working together to build on the trading momentum to maximise the Group's future potential."
Forthcoming Events
Please find below the forthcoming reporting dates for Marston's, which are also available on the investor calendar on our website - www.marstonspubs.co.uk/investors
2024 Interim results | 14 May 2024 |
ENQUIRIES:
Marston's PLC Tel: 01902 329516 | Instinctif Partners Tel: 020 7457 2010/2005 |
Justin Platt, Chief Executive Officer | Justine Warren |
Hayleigh Lupino, Chief Financial Officer | Matthew Smallwood Joe Quinlan |
NOTES TO EDITORS:
· Marston's is a leading pub operator with a 40% holding in Carlsberg Marston's Brewing Company
· It operates an estate of 1,408 pubs situated nationally, comprising managed, franchised and leased pubs
· Marston's employs around 11,000 people