Marston'S Plc Unsp/Adr (MRTPY) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.415 -- 00:00:07.802 Good morning everybody. Welcome to the Marsden's interim results for financial year 26. 00:00:07.802 -- 00:00:12.467 My name is Justin Platt. I'm the CEO and with me I have Stephen Hobson, our Chief Financial 00:00:12.467 -- 00:00:17.612 Officer. We'll take you through the results today and we'll do so with the following 00:00:17.612 -- 00:00:20.295 running order. I'll give some quick headlines. 00:00:20.295 -- 00:00:22.998 Stephen will then talk to the financials. 00:00:22.998 -- 00:00:26.382 I'll then come back to give an update on some of the strategic progress we've made in 00:00:26.382 -- 00:00:29.900 the first half and then we'll take some time for questions. 00:00:29.900 -- 00:00:32.183 So it's been a really good first half for us. 00:00:32.183 -- 00:00:36.871 It's been a first half when we've made really excellent strategic progress. 00:00:36.871 -- 00:00:38.854 And that progress 00:00:38.854 -- 00:00:43.438 sets us up for a very strong year overall. 00:00:43.521 -- 00:00:49.810 Profit-wise, we've done pretty well. So we've grown profit before tax at almost 8%. 00:00:49.810 -- 00:00:53.696 Alongside that, yet another period of margin expansion. 00:00:53.696 -- 00:00:57.845 And we've done that despite some of the well-known cost headwinds. 00:00:57.845 -- 00:01:02.931 but also with some of the closure periods that we've taken as we've refurbished our estate 00:01:02.931 -- 00:01:05.174 in line with the formats. 00:01:05.174 -- 00:01:08.017 The formats have been a key success of the first half. 00:01:08.017 -- 00:01:11.098 We've done 60 of them 00:01:11.201 -- 00:01:15.363 against a plan of 50, and as we've come to, they've 00:01:15.426 -- 00:01:20.652 all performed very, very well. So all of that leaves us feeling very encou...