Pub operator Marston’s said it expects to meet its medium-term core profit margin target ahead of schedule, thanks to growing footfall at its improved sports-screening focused pubs and other enhancements to drive profits.Â
The company, which owns more than 1,300 pubs across Britain, said like-for-like sales for England match days during the football World Cup rose 22 per cent while those across its sports pubs brand Grandstand, nearly tripled from a year earlier.
“Our pubs have delivered a strong start to the summer. Our new Grandstand pubs have been leading the way and continue to perform ahead of expectations,” said CEO Justin Platt.
In October 2024, Marston’s had set a near-to medium-term target to expand annual EBITDA margins by 200-300 basis points, which it now expects to meet in the current fiscal year.
For the 42 weeks to 18 July, like-for-like sales slipped 1.6 per cent from last year, as broader market uncertainty weighed on demand and offset the boost from peak occasions.
JD Wetherspoon shares slumped after it issued its fourth profit warning this year, as the pub chain grapples with surging food and energy costs and a rising business rates bill.
Chairman Tim Martin said: “Profits for the year are likely to be below market expectations, with marginally lower sales than anticipated in the final quarter, combined with higher costs in the areas of food, labour, repairs, energy and business rates.”
