Coronavirus hits Marston's revenues by £40m

26 June 2020 by
Coronavirus hits Marston's revenues by £40m

Marston's has reported a £43m drop in revenue to £511m in its H1 numbers, the majority of which has been due to the early impact of the coronavirus.

The brewer and pub operator made a profit before tax of £9.4m in the 26 weeks to 28 March 2020, down from £34m in the same period in 2019.

Total revenue in its 1,400 pubs and bars decreased by 7.2% to £343m, with strong Christmas and new year trading offset by flooding in November and February and the early impact of the conoravirus pandemic.

But Marston's said it was well-placed to recover in the medium term, with plans to reopen 85%-90% of its pubs on 4 July.

Chief executive Ralph Findlay said: "Our immediate priority is to prepare our pubs to reopen on 4 July. While there is short-term uncertainty as the sector emerges from lockdown, we are focused on offering a great guest experience, synonymous with Marston's hospitality, to welcome our customers back into our pubs within a safe trading environment.

"The challenges facing the sector should not be underestimated and much rests on consumer confidence, which may take time to rebuild. As the industry navigates its way out of lockdown, we will continue to urge government for continued support for pubs and wider hospitality, through the reopening phase and thereafter through business rates relief and cuts to VAT, to protect jobs, the economy and the invaluable role the pub plays in communities nationwide."

Photo: Shutterstock

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