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All Marston’s articles – Page 5
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Analysis & InsightPeel Hunt on 2021: A year of two halves
Q1 is traditionally the quietest quarter in licensed retail; it is when tenants are most likely to hand back the keys. Sadly, without any additional government support and with the rent moratorium ending in March (with 15 months of rent due in some cases), many private companies could run out of liquidity. Many sources have suggested a 20-30% supply reduction. We are more optimistic than this due to corporate activity. The speed and direction of capital reallocation will be critical to this, in our view.
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NewsMarston’s strikes deal with Brains
Marston’s has announced a deal that will see it operate 156 Brains pubs in Wales. The combination of leased and management contract arrangements consists of a freehold estate of 86 managed and 55 tenanted pubs, together with a leasehold estate of 15 managed pubs and bars. It employs around 1,300 people. Marston’s already has 106 pubs in Wales but plans to continue to operate the existing 156 Brains pubs under the Brains brand. Marston’s will operate the 141 freehold pubs on a leasehold basis from February 2021, with rent chargeable from April 2021. The majority of these will be on long lease agreements of 25 years. The deal is set to complete in February 2021.
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InterviewsMarston’s refocused pub business will have ‘firmer pricing outlook’
Marston’s CEO Ralph Findlay has shared with MCA details of an executive restructure at the company, which sees previously separate divisions brought under a single pubs business.
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NewsMarston’s reports statutory loss of £397m
Marston’s made a total loss of £397.1m in 2020 following the closure of its pub estate for 15 weeks.
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NewsMarston’s waivers request approved by noteholders
Marston’s request to the holders of its secured class A notes for a number of further technical waivers during the first half of 2021 has been approved. In an announcement to the London Stock Exchange last month, the pubco formally requested the waivers as a precautionary measure following the renewed lockdown restrictions introduced in Wales and England.
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NewsMarston’s and Carlsberg UK complete joint venture
Marston’s has announced the completion of its £780m joint venture with Carlsberg UK.
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NewsMarston’s: 2,150 jobs at risk
Marston’s has released a trading update saying group sales are down 30% on last year to £821m. Total pub sales for the year were £515m, down 34% on last year. It also said that 2,150 jobs are at risk due to the new restrictions. “This year has been testing on many fronts,” said CEO Ralph Findlay. “Trading has been difficult, but to operate at 90% of last year on a like-for-like basis is better than our forecast, ahead of the market and a highly creditable result. In part, this is because most of our pubs are in suburban or community settings, and we have relatively few pubs in city centres which have been worst hit by changes in working habits.
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OpinionDominic Walsh: On the Marston’s and Carlsberg JV, and Just Eat
Phew, the relief! For the first time since the lockdown here was a story that was not about coronavirus. And what a story: Marston’s to exit brewing. Well, almost. When its £780 million brewing joint venture with Carlsberg was announced, I described it as an acceleration of “the redrawing of Britain’s brewing landscape” and I see no reason to change my view.
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NewsMarston’s and Carlsberg UK form joint venture partnership
Marston’s and Carlsberg UK have formed a new joint venture partnership, Carlsberg Marston’s Brewing Company (CMBC).
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NewsGoodbody and JP Morgan on Marston’s
Goodbody has said it retains its “cautious view” on Marston’s in terms of investment due to the fact it has endured an extended period of muted like-for-like growth, it said in a note following Marston’s preliminary full-year results update on Wednesday (27 November).
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NewsRalph Findlay: ‘We are behind the market on food’
Marston’s is to adopt a “renewed focus” on the proposition in its food-led pubs after falling behind the market with its offer, chief executive Ralph Findlay told MCA.
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NewsGlickman to step down as NED at Marston’s
Marston’s has announced that Catherine Glickman is to step down as a non-executive director.
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NewsMarston’s confirms deal with Admiral on pub disposals
Marston’s has announced that it has reached an agreement for the disposal of 137 of its pubs to Admiral Taverns, for £44.9m.
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NewsMarston’s announce changes to the board
Marston’s has announced that Bridget Lea and Octavia Morley will join its board as independent non-executive Directors from 1 September 2019 and 1 January 2020 respectively. Lea is current MD (North) at Sainsbury’s and previous held roles at M&S, Clark, Uniqlo and O2.
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OpinionAnalysts corner: Marston’s
Following Marston’s trading update for the 42 weeks to 20 July 2019, leading analysts from JP Morgan, Peel Hunt, Liberum and Goodbody share their reactions to the figures, which have been described as “slightly disappointing” in Q3.
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Analysis & InsightAuthenticity and quality key to spend says Marston’s in On Trade Beer Report
Authenticity and quality are key to increasing consumer spend at the bar, helping a venue stand out from the competition and ensuring customers return, says Marston’s in its latest On Trade Beer Report.
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NewsHow robotics and machine learning are boosting efficiency at Marston's
Marston’s is ramping up its adoption of the latest technology, including machine learning and robotics. Head of technology services, Richard Cockbill, and head of technology, Paul Hume, talk to Andrew Don about how the technology is being applied and the benefits of it freeing up staff for other jobs.
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NewsCAMRA labels Marston's decision to axe cask ale as "extreme"
The Campaign for Real Ale (Camra) has condemned Marston’s cull of cask ale at its Scottish managed pubs as “extreme”.
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NewsMarston’s sees H1 growth across the board
Marston’s saw like-for-like sales (lfls) across its managed and franchised pubs grow 2.2% in the 26 weeks to 30 March, with a 3.2% hike in the final 10 weeks of the period.
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OpinionAnalysts corner: Marston’s
With Marston’s due to release its interim results tomorrow, Goodbody takes a look at what it expects and the key questions it would like answered in the update.