Reporting another year of strong profit growth, Marston’s has exceeded market expectations as the operator accelerates its pub refurbishment schedule to strengthen margins and drive future performance.

Pub group Marston’s has struck an optimistic tone after reporting “another year of strong profit growth” and forecasting further financial progress in the year ahead.

In a trading update for the 12 months to 27 September 2025, the Wolverhampton-based brewer and pub operator said underlying pre-tax profits are expected to exceed market expectations. This marks a second consecutive year of substantial growth, following a 65 percent profit uplift in the 2024 financial year. The company said like-for-like sales for the full year rose by 1.6 percent, with “growth continuing to outpace the total market”. 

Marston’s completed 31 pub format refurbishments during the period – one more than planned – and said the upgraded venues are delivering average initial revenue uplifts of 23 percent.

“We have delivered another year of strong profit growth and significantly improved recurring free cash flow, providing us with continued opportunity to invest in our estate, reduce debt and unlock long-term value for shareholders. Our market-leading pub operating model has been central to delivering strong margin uplifts, while guest experience scores have reached record levels – a testament to the passion and dedication of our teams,” explained chief executive Justin Platt. 

“Our differentiated pub-formats are already delivering impressive results with a defined plan to accelerate this further in FY2026. With clear strategic priorities and disciplined execution, we enter the new year with strong momentum. Our results demonstrate we are delivering as a high-margin hospitality business, and with our formats growth engine showing great promise, we are poised to drive further financial and strategic progress.”