Marston’s fails to avoid UK’s poor summer weather

Marston’s saw turnover soar past the £600m mark this year helped by acquisitions, but it couldn’t escape the effects of this summer’s atrocious weather.

Turnover in the full year to 29 September increased 9.6% to £652.8m (2006: £595.5m) with the purchases of Sovereign Inns, Eldridge Pope and Ringwood Brewery.

However, a poor summer and the closure of 150 pubs due to flooding in June and July, comparisons to last year’s busy Football World Cup period and higher interest rates, saw pre-tax profit slide to £98m (2006: £101.5m).

Marston’s chief executive Ralph Findlay said: “We remain cautious about consumer confidence, regulatory cost pressures and the short-term impact of the smoking ban.

“We are however, well posited to continue to exploit current tends, including the continual growth in casual dining.”

Marston’s managed pub estate saw like-for-like food sales increase 13.3%. Food sales now contribute 34% of the total retail turnover of £367.8m.at the division.

Ben Bartlett, catering development manager of Marston's Pub Company >>

Marston’s food sales drive growth despite affect of summer flooding >>

Marston's acquires brewer Ringwood in £19.2m deal >>

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Marston’s sells package of pubs to Piccadilly Licensed Properties >>

By Chris Druce

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