Marston'S Plc Unsp/Adr (MRTPY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for joining us today. Welcome to the Marston's preliminary results for financial year 25. My name is Justin Platt, CEO. And with me, I have Stephen Hobson, our new chief financial officer. We'll take you through our results today. And we'll do that with the following running order. I'll start with the headlines. Stephen will then share the financial results. And I'll then give some insight into the strategic progress we've been making through the year. before wrapping up and taking any questions you might have. So the headlines 2025 has been a very strong year for Marston's. It's been a year when we've been very focused on delivery, delivery of the strategy we outlined a year or so ago at the Capital Markets Day. And the results bear out that the strategy is working and driving real progress for us as a business. With profit before tax of 72 million pounds, That's year on year growth of 71%. And that's on top of the 65% growth we delivered a year ago. And that profit delivery has helped us drive cash flow. So cash flow at 53 million pounds. That's ahead of our 50 million pound target. And it's also earlier than planned. Alongside that, it's really pleasing. We've made great progress with our new pub formats. 31 launches this year. They're performing very strongly for us. and driving big revenue uplifts. It's very clear now that these formats can be a significant growth engine for us in the future. And we've been doing all of that while giving our guests a great time. So record satisfaction scores with a reputation score of 816. So overall, a really good set of results. And it's a set of results that leave us feeling very positive in our outlook going forward. So that's the summary. I'll now hand over to Stephen and he'll take you th...