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Brewery steps in with £2m for pubs
Monday 28th July 2008, 5:01PM BST.
Black Country Banks’s brewer Marston’s is injecting up to £2 million to help struggling landlords, it was revealed today.
The Wolverhampton-based brewing and pubs giant said the cash was part of a package to provide more support to retailers “where appropriate”.
“We believe that our consistent policy of achieving a sustainable rent for each pub is contributing to our resilient performance,” the group said it an interim statement covering the the 43 week period to July 26.
Business had been hit by the smoking ban, higher costs and weakening consumer confidence, although food sales had continued to increase, but with reduced income from drinks and gaming machines.
In Marston’s Beer Company although volumes of its own brands remained below last year, market share had increased overall, with good growth in premium ales. In Marston’s Inns & Taverns, the managed pubs division, sales were 0.6 per cent below last year, while in Marston’s Pub Company, the tenanted and leased pub division, profits were around 1.2 per cent down. The news came as national figures showed that beer sales had fallen sharply since last year.
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