Pub group Marston’s returns to profitability as sales bounce back to pre-Covid levels May 18, 2022 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. [...]
Pubs and bars anxiously wait to see if Omicron headlines have impacted customer confidence December 1, 2021 Hospitality firms are anxiously awaiting to see if Omicron variant headlines have hit consumer confidence. The bosses of both Loungers’ and Marston’s told CityA.M. that it was too soon to tell if bar goers had been deterred from making trips to venues after news of a new Covid variant. Loungers’ CEO Nick Collins said he [...]
Marston’s revenue sinks as ‘worst of pandemic now behind us’ November 30, 2021 Pub company Marston’s reported depleted revenue for the financial year but said trading momentum had rebuilt since the easing of lockdown measures. Total pub revenue for the year was £402m, down 22 per cent on last year, which the operator said was a result of Covid trading disruptions. Andrew Andrea, CEO said: “While there are [...]
Marston’s slumps to £105.5m pre-tax loss as restrictions hit business May 19, 2021 Marston’s fell to a £105.5m pre-tax loss in the 26 weeks to April 3, as coronavirus-led lockdown restrictions over the winter hit the pub group hard. Revenues during the six month period to April 3 dropped £343.3m to just £55.1m, although the balance sheet was boosted by £291 million from the sale of Marston’s brewing [...]
UK pub chain Marston’s hunts for new finance boss after CFO promoted to chief executive May 12, 2021 Marston’s is on the hunt for a new finance chief after promoting its current CFO to the pub chain’s top job. Andrew Andrea has been appointed as the brewery group’s new chief executive, and he will leave behind his role as the firm’s chief financial officer when he takes up his new position from 3 [...]
Cheers: Marston’s prepares to reopen 700 pubs from Monday April 7, 2021 Marston’s is preparing to open around 700 pubs with beer gardens from Monday, when restrictions will be lifted to allow outdoor trading. The pub chain confirmed this morning that around 70 per cent of its managed and franchised pubs in England with outdoor spaces will welcome back punters on or around 12 April. The majority [...]
Marston’s boss steps down after two decades at the helm of pub chain March 11, 2021 Marston’s announced this morning that chief executive Ralph Findlay will step down this year after two decades at the helm of the pub chain. Findlay will leave on 30 September, at the end of the current financial year, and Marston’s has launched a search for his replacement. Marston’s chairman William Ricker said Findlay, who was [...]
Last orders: US private equity giant calls time on bid to buy pub chain Marston’s February 11, 2021 Platinum Equity Advisors today announced its intention to pull out of its bid to buy British brewer and pub chain owner Marston’s. Marston’s, which runs around 1,400 pubs, rejected a £690m takeover offer from the US private equity firm last month, claiming that the bid undervalued the company. The British Hobgoblin brewer has seen shares [...]
Pub chain and Hobgoblin brewer Marston’s rejects £690m takeover offer from US private equity giant February 1, 2021 Pub chain and Hobgoblin brewer Marston's rejects £690m takeover offer from Platinum Equity Advisors
Pub chain Marston’s shares fizz on takeover bid January 29, 2021 Shares in Martson’s jumped this morning after the pub chain confirmed it had received a takeover offer from a US private equity firm. In a statement this morning the British brewer said it had received an “unsolicited non-binding proposal” from Platinum Equity Advisors over a potential cash bid. Shares in Marston’s rose as much as [...]