Marston’s sees profit dip
Friday 30th November 2007, 11:33AM GMT.
Pub and brewing firm Marston’s today reported a three per cent dip in annual profits, but said “robust” sales were driving results in the new financial year.The Pedigree brewer posted underlying pre-tax profits of £98 million in the year to the end of September, down from £101.5 million after forking out £2 million in repair bills from the summer floods.
Marston’s – formerly Wolverhampton & Dudley Breweries – reported like-for-like sales up 4.6 per cent in the year, against a “challenging background” of severe flooding and the introduction of the English smoking ban.
The firm said its preparations for the smoking ban helped current trading stride ahead of last year in its Marston’s Inns & Taverns chains.
Like-for-like sales rose 2.1 per cent on a like-for-like basis over the past two months, with food sales up 9.1 per cent.
Its focus on casual dining and investment in external areas had so far helped offset any potential impact from the smoking ban, according to Marston’s.
However, the firm sounded a cautionary note over the possible effects of the smoking ban in the winter months and raised concerns over consumer confidence.
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