Christmas bookings at Marston’s are currently 11% ahead of last year, the pub group has said, revealing results for the 52 weeks to 27th September.
Underlying profit before tax was up 71.3% to £72.1 million (2024: £42.1m), driven, said the company, by new formats, digital innovation, and cost efficiencies.
“We’ve delivered another strong year ahead of plan, executing on our strategy to be a high-margin, highly cash-generative local pub company,” said chief executive Justin Platt.
“For the second consecutive year, we’ve delivered significant growth in profit, margin, and free cashflow, underlining the strength of our market-leading pub operating model and the outstanding work of our teams.
“Guest satisfaction has reached record levels — a fantastic endorsement of the passion and dedication of our people, and the quality and consistency they deliver every day.”
Over the festive period, Marston’s expects to serve:
- More than 50,000 turkey joints;
- Five million brussels sprouts;
- 15 tonnes of cranberry sauce;
- 1.2 million Pigs in Blankets; and
- 100,000 Christmas Puddings.
• New statistics show accommodation and food services insolvencies were flat month on month, at 265, in September, and up only slightly from 262 in September 2024.
“The flattening out of hospitality insolvencies suggests businesses are holding on to see through trade during the festive season,” said Saxon Moseley, partner and head of leisure and hospitality at RSM UK.
“After a prolonged period of disappointing sales, many are hoping the Christmas period delivers a much-needed boost, so they can build up their depleted cash reserves.
“Consumer demand remains subdued for the most part, with pubs being the main beneficiaries of a ‘flight to value’ by households. Consumers still want to socialise, but are doing so in the most cost-effective way…”
He added: “The future of many hospitality businesses will be dependent on the upcoming Budget. If hit with more tax hikes, on top of April’s rise in staff costs, it will inevitably be the end of the road for some. But if offered targeted support and an injection of investment, this will provide a lifeline for many businesses at the heart of the UK economy.
“With some operators taking a ‘wait and see’ approach in the lead-up to the budget, standing completely still could have a negative knock-on impact. Understandably it’s difficult to make investment decisions until businesses get more certainty.
“However, operators must focus on conserving cash, maintaining the customer experience and cost cutting, including renegotiating prices with suppliers to get the best deal possible.”
• Young’s is commencing a share buyback programme in respect of its A ordinary and non-voting ordinary shares of 12.5 pence each, for a maximum aggregate consideration of up to £10 million.
The share buyback programme — which aims to reduce the company’s share capital – will principally focus on purchasing non-voting ordinary shares. All shares purchased by the company under the programme will be cancelled.
• London Beer Factory has acquired The Hole in the Wall, at Waterloo, which will become the third pub in its estate.
“We’re thrilled to be taking on such a legendary London boozer,” said brewery founders Ed and Sim Cotton. “Our plan is to give it a more modern, premium feel, introduce a kitchen serving some of the best burgers in town, and, of course, keep the incredible beer selection the pub is famous for.”
• Amber Taverns is to re-open a former Wetherspoon site in Barnstaple, Devon. The Water Gate will re-open in spring next year following a major refurbishment. Wetherspoon retains a pub in the town, The Panniers.
Wetherspoon has also announced a partnership with the University of Birmingham’s Guild of Students to operate its bar and restaurant, Joe’s. And it is to make its international debut, too, at Alicante-Elche Miguel Hernandez airport, in Spain. This could be the first of a number of overseas openings.
