By M&C Report team2010-08-19T07:45:00+01:00
Marston’s has announced the completion of its £780m joint venture with Carlsberg UK.
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.
East Coast Concepts, the Manchester-based restaurant and bar group, has been bought out of administration.
England will be left with just a fraction of its pubs being able to trade in conditions resembling normal, the country set to go back into “lockdown in all but name”.
Hawthorn is an ambitious company, that’s something chief executive Mark Davies is very clear on. Speaking to MCA following the group’s half-year financial results, which reported its 700-strong estate had outperformed the market for the six months to 30 September 2020, Davies is in the enviable position of being able to look ahead, and he isn’t holding back in his plans for the business going forward. “We want to be the number one community pub company,” he says. “If anything, the pandemic has endorsed our strategy of focusing on community pubs, and our intention is to keep at it. We have the team to do it and the desire, so watch this space.”
Fuller’s has said sales for the first half of the year (for the 26 weeks to 26 September 2020) hit £45.6m, down from £167.1m it made last year. It also reported an adjusted loss before tax of £22.2m compared to a profit of £17.9m last year. “The tightening of the tier system will present further challenges over the winter months, but we welcome the Prime Minister’s comments that we will see the need for restrictions fall away in the spring,” said CEO Simon Emeny. “When the current lockdown was announced, we acted swiftly to implement the lessons learned last time round and this latest closure has been made with minimal stock losses.
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