LONDON (dpa-AFX) - Marston's Plc (MARS.L), a British pub and hotel operator, on Tuesday posted a turnaround to pre-tax profit for the fiscal 2022, reflecting a surge in revenue, following a recovery from the impact of Covid-19 and the significant restrictions to pub trading during the prior year.
Meanwhile, net profit declined from last year, on the absence of prior year's profit from discontinued operations.
For the full-year to October 1, the Wolverhampton-headquartered company posted a pre-tax income of 163.4 million pounds, compared with a loss of 171.1 million pounds of 2021.
Post-tax income, meanwhile, fell to 137.2 million pounds or 21.4 pence per share from last year's 162 million pounds or 25.7 pence per share a year ago.
On a continuing operations basis, prior year's net loss was 128.3 million pounds or 20.3 pence per share of 2021.
Underlying profit before tax was 27.7 million pounds, compared to loss of 101.3 million pounds. Underlying earnings per share were 4.3 pence, compared to loss of 13.6 pence last year.
The company registered an operating profit of 145.4 million pounds as against a loss of 105 million pounds last year.
Marston's generated revenue of 799.6 million pounds, higher than 401.7 million pounds recorded a year ago.
Regarding the current trading and outlook, the company said its trading since the year end remains encouraging. Like-for-like sales in managed and franchised pubs are up 6.8% from the same period last year.
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