August slowdown dampens sales but Marston’s remains on track
MARSTON’S pub chain and brewer yesterday said it expected 2014 profit to be broadly in line with expectations, and added it would build at least 25 new managed pub-restaurants in the new financial year.
In a full year trading update to 4 October Marston’s full-year underlying sales at its core managed pubs were up 3.1 per cent.
That indicated a slowdown from the first 41 weeks of the year, as poor weather in August hit sales.
Sales at its more drink-led managed, franchised and tenanted pubs, and in its leased division also grew 2.1 and 3 per cent respectively, the firm said, ahead of its full-year results on 27 November.
“We have made steady progress by consistently implementing our returns-focused strategy including an accelerated new-build programme, and in meeting our targets for disposals and conversions to franchise,” said chief executive Ralph Findlay. Shares in the group closed down 0.85 per cent at 139.6p.