Performance overview
Marston’s PLC reported a resilient trading update for the festive season, announcing a 4.0% increase in like-for-like sales across the period. The UK pub operator, which runs more than 1,300 pubs, pointed to particularly strong trading across five key festive dates - Christmas Eve, Christmas Day, Boxing Day, New Year’s Eve and New Year’s Day - where like-for-like sales rose 5.6%.
Looking beyond the peak dates, Marston’s said that over the 17-week period ending January 24 its like-for-like sales tracked in line with the prior year and continued to outperform the broader market. The company presented these results as an affirmation of the underlying resilience of its estate and consumer demand for its community pubs.
Format roll-out and operations
The group is accelerating its pub format roll-out, completing 23 launches in the first quarter. Management reported that these newly opened format sites are performing ahead of expectations, supporting a target to complete more than 50 format launches in the financial year 2026.
Marston’s also said its market-leading pub operating model is contributing to margin improvement. The company attributed this progress to disciplined cost control and a range of ongoing efficiency initiatives designed to protect profitability across the estate.
Events and trading opportunities
The firm outlined a calendar of demand-driving events for the year, including the return of Luke Humphries’ Cool Hand Cup and Trivial Pursuit: Win a Wedge, alongside new promotions such as a partnership featuring Roald Dahl’s Matilda character. Management also flagged the 2026 FIFA World Cup as a notable summer trading opportunity for the group.
Management view and market expectations
Justin Platt, CEO of Marston’s, said: "Our pubs have delivered another strong start to the year, with standout performances across our key festive trading dates including setting a new record for Christmas Day - a clear reflection of the strength of our community pubs and the passion and energy our teams bring to every service."
The Board said it remains confident in delivering full-year consensus expectations. Market forecasts for FY2026 underlying profit before tax are centred on £78.7 million, with analyst estimates ranging from £76.1 million to £83.0 million.
Key facts at a glance
- Like-for-like sales: +4.0% over the festive period.
- Key festive dates: +5.6% like-for-like sales across five major holiday dates.
- Estate size: more than 1,300 pubs across the UK.
- Format roll-out: 23 launches in Q1; target of more than 50 launches in FY2026.
- FY2026 consensus underlying profit before tax: £78.7 million (analyst range £76.1m-£83.0m).