Marston's 'well positioned' for 2008

December 1, 2007: Marston's remains cautious about the coming year, despite posting pre-tax profits of £94.7 million (after exceptional items) for the year ending September 29, 2007.

Turnover increased by 9.6% to £652.8 million (2006: £595.5 million). This included the acquisitions of Sovereign Inns in January 2007 for £19.6 million, Eldridge Pope also in January 2007 for £156.5 million, and Ringwood Brewery in July 2007 for £17.8 million. Each of these acquisitions was funded through debt. On 10 May 2007, 279 smaller tenancies were sold to aAim Group for £82.5 million.

"We remain cautious about consumer confidence, regulatory cost pressures and the short-term impact of the smoking ban," said Ralph Findlay, chief executive.

"We are, however, well positioned to continue to exploit current trends, including the continuing growth in casual dining. We regard our value-for-money offers and mid-market position as appropriate for the current economic climate."

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