The company’s results showed a 4.8% rise in like-for-like sales with Christmas bookings ahead of last year.
Across the period (52 weeks ending 28 September 2024) also revealed revenue was up by 3% from £872.3m in 2023 to £898.6m in the latest update.
The Morning Advertiser spoke to Platt, who has been in the post for just under a year, as he outlined more about the company’s performance over the past 12 months.
He said: “I absolutely love giving guests a great experience and working to build a business that is working towards driving that experience, the progress has been terrific.
“The exit of CMBC was an unleased moment for us. [We are] a growth-focused company with a clear look at our priorities and very much focused on driving growth within the pub sector.”
Less than two months ago (October), the business unveiled five new pub formats as part of its aim to be a “pure play hospitality business”.
Market analysis
The five pub formats:
• Locals pubs – aimed at regulars aged between 35 and 64 with a proposition of ‘share good times at your local’ and an indicative share of estate of 23%. Key aspects include a warm and welcoming atmosphere, community engagement, an always on activity calendar and friendly licensee.
• Locals sport pubs – again aimed at regulars and locals alongside entertainment-focused adults with a proposition of ‘big event shared at your local’ and a 20% indicative share of estate. This offer features great viewing areas, market-leading technology, sports activities and a passionate licensee.
• Adult dining pubs – target audience of affluent adults aged 35 to 64, ‘good food, good times’ proposition and 22% share. It includes classic charm, first-class food quality, a range of leading drinks brands alongside relaxed, friendly service.
• Family pubs – families with primary school-aged children is the target audience here alongside a proposition of ‘share good times with all the family’ and an indicative share of estate of 18%. Food and drink for all the family is on offer as well as family events, a children-specific zone and a zoned area that feels more adult.
• Two-room pubs – the target audience is families and pub regulars with the aim of ‘sharing good times for everyone’ and a 17% indicative share of estate. This includes two clearly-defined pub zones, food and drink for all the family, sports activities and a licensee who embraces two pubs in one.
The pub company boss outlined how the changes came about and how these formats are being implemented in the business.
Platt told The Morning Advertiser: “On a fundamental level, we’ve done an awful lot of analysis of the market to understand consumer needs.
“That allows us to design these five formats [against] those needs, it’s anchored in extensive quantitative data [and] we’ve mapped our estate against those needs.
“We’re in the middle of the test and learn phase we won’t just go and change the formats overnight. The beauty of having a big estate is you can test that in different locations and work out what works.
“For 2025, we’re really going to go for that on our two rooms format, [which is a] pub within a pub.
“On one side, you’ve got the pub regulars with darts, pool etc and other side is more dining and family with a glass wall between them and washrooms on both sides.
“We piloted that extensively and had really good returns. Guest numbers in pilot sites increased by 30%.
“Meanwhile alongside that, we will be piloting some of other formats to refine the offer on those. “
Company investment
The results also highlighted the company’s capital expenditure was £46.2m in the year (down from £65.3m in the previous year), with capital largely focused on estate and operational systems maintenance.
It estimated capital expenditure would be around £60m in 2025.
Platt said: “We will seek over time to spend 7 to 8% on capital – a mix of maintenance (keeping the pub ship shape) and the investment is on building those new formats.
“With that investment is also being used to support digital structure such as launching a new order and pay app.
“In time we’ll get to acquisitions although we have real opportunity on building on our current estate.”
Looking ahead, Platt continued to remain optimistic both about the future of Marston’s and of the overall pub sector.
“It is about evolving the offer, adapting to the changing occasions and how people use their pubs,” he added.
“Pubs have been successful for many years and will continue to be so for many years.
“We’re feeling very positive about Christmas and it is a big focus for us over the next six weeks.
“Bookings are looking good and are 12% up on Christmas Day year on year.”
