Marston’s reported robust World Cup trading, with England matchdays yielding 22% like-for-like growth and Grandstand pubs delivering around 170% year-on-year on those days. The Group highlighted that Grandstand conversions continue to outperform, achieving roughly 30% like-for-like growth across the new formats, while overall year-to-date sales remain about 1.6% lower due to softer off-peak trading. Management reiterated a disciplined cost approach and projected EBITDA margin expansion ahead of expectations, signaling confidence in sustained profitability. The company plans a substantial acceleration of its Grandstand rollout, targeting around 100 conversions in FY2027, and expects leverage to fall to around 4x, paving the way for recommencing shareholder returns through buybacks. Executives characterized the summer outlook as positive, underscoring the community pub model’s resilience and the ongoing investment program driving momentum across the estate. Taken together, Marston’s earnings trajectory appears to hinge on a balance between peak-period strength from World Cup events and ongoing pressures from softer off-peak conditions, with a clear roadmap for growth and capital returns.
How it spread
What each side asserts, disputes — or leaves out entirely.
Whose framing of this story rings truest to you?
Free account · your comment posts right after signup
Think Free
The IJR Daily
Your front page, in your inbox — trending stories picked for you every morning, plus the big ones as they break.
Free, no account needed. Unsubscribe anytime.
