Marston's 1,250 new jobs a year target
The chief executive of growing Midlands-based beer and pubs group Marston's expects it to create 1,250 jobs a year as it continues to add new pubs with restaurants and invest in its brewing operation,
Marston's, which employs 13,000 across the country including 1,100 at its headquarters, announced rises in both underlying turnover, up three per cent to £384.5 million, and pre-tax profit – ahead two per cent to £29.6m – for the six months to April 4. It has increased its interim dividend by 2.5p a share as a result.
Chief executive Ralph Findlay said the group now had 1,600 pubs including eight new-build pub/restaurants completed in the half year.
It has recently opened three new sites in Shropshire, The Featherbed in Shrewsbury and The Fallow Field – a Marston's Carvery – in Hadley Park East and The Grazing Cow, Lawley, both in Telford.
Mr Findlay said: "We have enjoyed a pretty strong half year with decent like-for-like growth in our pubs.
"We are continuing to look at what is around for new sites that will fit in with our strategy and make the right kind of return. This includes looking for new sites in Shropshire."
He said the rise in profits was despite the costs of disposals of some of its estate and anticipated extra pensions costs.
Marston's has sold off 65 of its smaller pubs in the period, helping generate £26 million. Since becoming a plc the Wolverhampton-based group has sold more than 500, mainly small tenanted pubs.
The value of the FTSE 250 listed company's estate increased by £54 million for the six months during which 37 of its pubs were converted to its franchises.
