Pub group Marston’s returns to profitability as sales bounce back to pre-Covid levels
Pub group Marston’s today announced it has returned to profit after sales at its 1,482 pubs bounced back to 97 per cent of pre-pandemic levels.
The pub and hotel operator posted profits of £39.9m for the 26 weeks running up to 2 April 2022, compared to a £57.2m loss over the same period in 2021.
The return to profitability comes after Marston’s sales increased almost seven-fold, from £55.1m in 2021 to £369.7m in 2022, despite a short period of disrupted trading due to the impacts of Omicron.
Company chief executive Andrew Andrea said trading had “largely normalized” since the lifting of lockdown restrictions, as he said the firm is continuing to push forwards with plans to achieve £1bn in sales.
The firm said it had also overhauled its menu with a view to driving “simplicity and efficiency,” in its efforts to transition away from the “value food” market in a bid to maximise returns.
Company boss Andrea said the firm is also “navigating” its way through cost increases, with a view to “mitigating” them as much as possible via cost efficiencies and pricing strategies.
The Wolverhampton based company also said it is continuing to invest in refurbishments across its estate as it claimed it is taking a “business as usual” approach.