Marston's, the esteemed pub operator headquartered in Wolverhampton, has reported a robust performance that exceeded market expectations, buoyed by pre-Christmas bookings and signalling potential for another prosperous year.
The company announced this morning that its total revenue for the year ending 28 September, 2024, climbed to £898.6 million, marking a three per cent increase from £872.3 million in the previous 12 months, as reported by .
Pre-tax profits at Marston’s surged by an impressive 64.5 per cent, rising from £25.6 million to £42.1 million, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw a 13 per cent uptick.
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Justin Platt, Marston’s chief executive, described the period as a "defining year" for the firm, which followed their strategic move away from brewing to "embark on a new chapter". The group, which boasts ownership of over 1,339 pubs across the 海角视频, had divested its 40 per cent share in Carlsberg Marston’s Brewing Company (CMBC) back to the Danish brewer for £206 million in July.
Platt commented on the sale's significant impact: "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."
He highlighted the positive outcomes of their focused approach and refreshed strategy, which are reflected in the strong financial results, including a 4.8 per cent rise in like-for-like sales that outpaced the market. Additionally, Marston's net debt was reduced to £883.7 million, indicating a substantial decrease of over £301.7 million.
Looking towards the festive season, the current trading period leading up to Christmas is showing promising signs, with bookings already surpassing those of the previous year.
"Community-based pubs like ours play an essential role in 海角视频 society, backed by our hardworking local teams who give our guests great experiences every single day," said Platt.