Marston's sees profits slide 13%

5th December 2008, 9:49am

Marston's, the pub and brewing company, has described the last 12 months as very 'difficult for the industry' following a 13% drop in pre-tax profits to £85million.

The firm, which has around 2,250 pubs in its portfolio said that food sales now account for 36% of its turnover, as the smoking ban, poor weather and economic downturn all had an effect.

Ralph Findlay, chief executive for Marston's said the company remains wary going into 2009: "We remain cautious about the immediate trading outlook but are confident that steps already taken in respect of capital expenditure and cost management are appropriate for the current environment and that our value-for-money offers will continue to perform well."

David Thompson, chairman took the announcement of the company's results as an opportunity to criticise the government's alcohol taxation policies: "The increasing burden of government legislation and significant increases in alcohol taxation are unwelcome and pose significant challenges for our tenants, lessees and free trade customers."

Within the Marston's portfolio are Pedigree and Banks' beers and the Two for One and Pitcher and Piano bar chains.

Related Articles:

• 15 Oct 2009 - Marston's offers free kids meals to celebrate new menu
• 01 Oct 2009 - Travelodge and Marston's join forces
• 05 Aug 2009 - Marston's set to expand despite recession
• 26 May 2009 - Food and beer prove resilient for Marston's

Click here to submit a comment!

Have your say!

To comment on this article, simply enter your name and email and send us your views. Please note that your comment will appear publicly below this article once it has been processed. For enquiries please email info@eatoutmagazine.co.uk.