REG - Marston's Plc - Trading Update for 52 weeks to 27 September 2025

Marston'sAnnouncement

Wed 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251008:nRSH4313Ca&default-theme=true

RNS Number : 4313C  Marston's PLC  08 October 2025

 

 

 

8 October 2025

MARSTON'S PLC

("Marston's" or "the Group")

 

STRONG PROFIT GROWTH AND £50 MILLION RECURRING FREE CASH FLOW TARGET
EXCEEDED, SIGNIFICANTLY AHEAD OF PLAN

Marston's, a leading UK hospitality business with an estate of more than 1,300
pubs, today announces a trading update for the 52-week period to 27 September
2025. All sales comparisons are to the same period in FY2024.

Business Update

 * Underlying profit before tax expected to be ahead of market expectations,
marking a second consecutive year of significant profit growth following the
65% uplift delivered in FY2024.(1)

 * Step-change in profitability underpinned by sustained margin expansion through
our market-leading pub operating model, including revenue management, labour
efficiency and procurement initiatives

 * Underlying EBITDA margins expected to increase by more than 100 basis points
year-on-year as the business delivers on the financial targets outlined at the
Capital Markets Day in October 2024.

 * Like-for-like sales for the full year grew 1.6%, with growth continuing to
outpace the total market.(2)

 * 31 pub format refurbishments completed in the year, ahead of our 30-pub
target, comprising 21 Two Door, five Grandstand and five Woodies. Invested
sites are trading strongly, delivering average initial revenue uplifts of 23%.

 * An accelerated capex programme is in place for FY2026 to build on this strong
momentum with a significant step up in format refurbishments over the next 12
months.

 * Recurring free cash flow expected to be in excess of the Capital Markets Day
target of £50 million, achieving this milestone ahead of schedule.

 * Year-end net debt (pre-IFRS 16) to EBITDA now below 5x driven by the
step-change in profitability and supported by the Group's strong freehold
asset base.

 

1 - Company-compiled market forecasts for FY2025 underlying profit before tax
of £67.2 million, with a range from £64.6 million to £69.2 million.

2 - CGA RSM Hospitality Business Tracker - total market. Like-for-like sales
means sales for the Group's managed and partnership pubs, including food,
drink, accommodation and gaming machine income, considered on a daily basis
where the pub was trading in both the current and prior period.

 

Justin Platt, CEO of Marston's PLC, commented:

"We have delivered another year of strong profit growth and significantly
improved recurring free cash flow, providing us with continued opportunity to
invest in our estate, reduce debt and unlock long-term value for shareholders.
Our market-leading pub operating model has been central to delivering strong
margin uplifts, while guest experience scores have reached record levels - a
testament to the passion and dedication of our teams. Our differentiated
pub-formats are already delivering impressive results with a defined plan to
accelerate this further in FY2026.

With clear strategic priorities and disciplined execution, we enter the new
year with strong momentum. Our results demonstrate we are delivering as a
high-margin hospitality business, and with our formats growth engine showing
great promise, we are poised to drive further financial and strategic
progress."

Joint Corporate Broker Appointment

Marston's also announces the appointment of Panmure Liberum as a joint
corporate broker with immediate effect. The appointment of Panmure Liberum is
intended to further enhance the Group's engagement with institutional
investors, broadening Marston's investor base as it advances its strategic
programme over the coming years.

Notice of Full Year Results

Marston's intends to announce its FY2025 results on 25 November 2025.

Enquiries:

 

Investors

 

Marston's PLC

Justin Platt,
CEO
Tel: 01902 329516

Stephen Hopson,
CFO

Matthew Lee, Investor
Relations
matthew.lee@marstons.co.uk

 

Media

 

Marston's PLC

Giles Robinson, Director of Corporate
Affairs
giles.robinson@marstons.co.uk

 

Sodali & Co

Ben
Foster
Tel: 020 7250 1446

Russ Lynch

Oliver
Banks
marstons@sodali.com

 

Notes to Editors

Marston's PLC, listed on the London Stock Exchange under the ticker MARS, is a
leading UK hospitality business with an estate of more than 1,300 pubs
nationally, comprising managed, partnership ('franchised') and tenanted and
leased pubs. Marston's employs around 10,000 people. More information is
available at https://www.marstonspubs.co.uk/.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUBUSRVNURRAA