Marston’s has described its revenue as "stable" in the first half of its financial year, despite it falling by 0.2% year-on-year.

The pub business saw its revenue reach £427.4m in the 26 weeks to 29 March. Although this is a slight drop from £428.1m over the same period in 2024, the previous year’s results included £50m in disposals.

Marston’s, which boasts an estate of 1,333 pubs in the UK, also recorded a pre-tax profit of £19m in this period, after making a loss of £200,000 in the same period last year.

Its operating profit jumped by 20.1% to £63.3m, which it said was “underpinned by strong operational delivery and strategic cost-saving measures”.

The firm’s like-for-like sales in the 31 weeks to 3 May increased by 2.9% year-on-year, with 10.5% growth in the five weeks to the period end.

Chief executive officer at Marston’s, Justin Platt, said: "The first half has been a period of significant momentum for Marston's, with the execution of a market leading pub operating model, investment in our differentiated pub formats and progress in our digital transformation driving strong margin and profit growth.

"Through our impactful calendar of demand-driving events and the dedication of our passionate, local teams, we continue to deliver great guest experiences every day, powering our industry-leading guest reputation scores. With strong recent trading across our nationwide estate of great local pubs, we are excited for the summer months ahead."

In its outlook, Marston’s said that its 2025 financial year performance is expected to be in line with current market expectations, with pre-tax profit guidance set at £66.8m.

It added it was confident in delivering recurring free cash flow of over £50m a year in the near-to-medium term, "supporting further investment and deleverage".

Investment director at AJ Bell, Russ Mould, stated that recent good weather has allowed Marston’s to "build a strong showing" in the first half of its financial year.

He added: "Like lots of hospitality businesses, Marston’s came out of the pandemic with substantial borrowings as it was forced to withstand long periods when it was unable to trade.

"A key priority for the company is bringing debt levels down and the latest results reveal tangible progress. This is only possible thanks to improved trading and the company managing to keep a tight rein on costs.

"The company may find it harder to boost profitability going forwards given the increased costs associated with changes in last year’s Budget. As well as reducing leverage the company is investing in its estate which is crucial if its pubs are to remain go-to destinations for punters."

---