Home Business News Marston’s slumps to loss due to pandemic pain

Marston’s slumps to loss due to pandemic pain

by LLB Editor
19th May 21 11:24 am

Pub group Marston’s has been hit by a £105.5 million pre-tax loss in the 26 weeks to April 3 due to the coronavirus lockdown.

CEO Ralph Findlay said: “Despite the challenges of the last year, the actions we have taken have ensured that Marston’s has emerged a stronger and more focused business with a substantially strengthened balance sheet, a 40 per cent stake in Carlsberg Marston’s Brewing Company and a clear vision for the future.

“This is my last set of results as chief executive officer and I am confident that the business is in an excellent position to execute its strategy and deliver a return to growth as the country recovers from the pandemic.

“Whilst still early days, trading has been encouraging since we were permitted to open our doors for outdoor trading last month and it has been fantastic to have our teams back in the business, doing what they do best, and welcoming customers back into our pubs.

“Our recent strategic investment in additional outdoor trading areas ahead of reopening has enabled us to capitalise on the clear pent-up consumer demand for the pub. We look forward to all trading restrictions being removed next month which signals a return to some semblance of normality.”

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