Marston’s reports bumper profits in ‘transformational year’

Marston’s has reported an increase in revenue and operator profit for its full-year ended September 2024.

 

The pub operator reported a 65% increase in underlying pre-tax profit year-on-year to £42.1m.

 

The company, which has an estate of 1,339 pubs across the UK, also reported a 3% increase in revenue to £898.6m for its full-year results. Like-for-like sales increased 4.8%.

 

Over the summer, Marston’s sold its 40% stake in its brewing joint venture with Carlsberg to create a business “entirely focused on pubs”.

 

Marston’s said at the time the move would allow it to concentrate on growing its 1,370-strong UK pub business.

 

Commenting on today’s results, Justin Platt, chief executive of Marston’s, called 2024 a “defining year for Marston’s”.

 

“The sale of our stake in [Carlsberg Marston’s Brewing Company] has been transformational, enabling us to significantly reduce debt, increase our flexibility and focus on what we do best: running great local pubs,” he said.

 

“This single-minded focus, combined with our rejuvenated strategy, is already showing in strong financial results. We’ve delivered like-for-like sales growth ahead of the market, significant margin improvements and robust cash flow, while current trading is encouraging with Christmas bookings already ahead of last year.

 

“Community-based pubs like ours play an essential role in UK society, backed by our hardworking local teams who give our guests great experiences every single day. All this gives Marston’s a superb foundation for sustainable, long-term growth, and fills us with confidence for 2025 and beyond.”