Pub operator and brewer, Marston's has announced its preliminary results for the 52 weeks ended 3 October 2015, showing underlying group revenue has risen by 7% to £845.5m, and underlying profit before tax was up 10% to £91.5m
The transformation of pub estate is well advanced with the average profit per pub up to £100k. Twenty-five new pub restaurants were completed this year, creating 1,250 new jobs
The conversion of Taverns to Franchise has been continued with around 550 now converted.
Marston's high quality Leased business delivered like-for-like profit and rental growth. The average profit per pub was up 15% in 2015, up around 40% since 2012.
The company's market-leading beer business continues to grow strongly with volumes up by 15%.
The Thwaites acquisition has complemented Martson's strategy and the pubs are now fully integrated into the estate.
The company is to continue to focus on premium and craft beer, which are driving growth.
Ralph Findlay, CEO said, “The three year transformation of our pub portfolio towards an optimised estate is now largely complete. We approach 2016 with our business successfully positioned at the forefront of industry trends with high quality, well-invested pub assets which are fit for the future. We have great people and a growing portfolio of leading beer brands where our focus on premium and local provenance continues to serve us well.
'Looking forward, we remain on track to open at least 20 new-build pubs this year and have in place a carefully selected site pipeline in key regional locations for 2016 and beyond. Whilst new-build, food-led pubs remain our core growth driver, we have evolved our strategy to capitalise upon other opportunities for expansion where we see attractive returns potential.'
Findlay concluded, 'At this early stage of the current year trading has begun well and we look forward to building on this momentum over the months ahead to deliver another year of good progress for the Group.”