MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

 
Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above
 


IN BRIEF: Marston’s interim loss widens on impairments but sales rise

ALN

Marston’s PLC - Wolverhampton, Midlands-based pub and hotel operator - Pretax loss widens to £43.5 million in the 26 weeks that ended March 30 from £38.1 million a year before, despite a 5.2% rise in revenue to £428.1 million from £407.0 million. Pub operating profit increases by 22% and net finance costs are reduced, but Marston’s takes a £16.6 million loss from associates, swung from a £2.2 million gain a year before. This relates to an ale brand impairment and onerous contract provision at beer joint venture Carlsberg Marston’s Brewing Co.

Declares no interim dividend, citing the priority to reduce debt. This stands at £1.16 billion on March 30, down from £1.19 billion a year before. Marston’s has paid no dividend since the Covid-19 pandemic in 2020.

More positively, Marston’s says the second half of the financial year has been ‘encouraging’, with a 4.0% annual increase in like-for-like sales in the past six weeks, or 5.3% if excluding the impact of the extra May bank holiday in 2023. Like-for-like sales were up 7.3% in the first half.

Current stock price: 31.69 pence, down 6.1% in London on Tuesday

12-month change: down 15%

Copyright 2024 Alliance News Ltd. All Rights Reserved.