Marston's confirms 'unfortunate' increase on beer prices ahead of festive season
Black Country pub company Marston's says it's not taken a decision to raise prices at the taps lightly, after upping the cost of some draught beers this week.
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Prices of draught beer at the company's 1,300 pubs have gone up by around 10p per pint, although due to regional pricing the increase is believed to be variable across the country.
The firm says the move to raise prices comes in the context of increased costs and difficult trading conditions in the UK hospitality industry.
"As has been widely reported in the news, the cost of doing business is increasing for everyone across our sector, which has unfortunately impacted pricing," said a spokesperson for Marston’s.
"At Marston’s, we pride ourselves on offering great value and experiences for our guests every day of the week, and our teams are working hard to minimise the impact of external pressures on our customers and pub partners."
Earlier this month the firm, which has its headquarters in Wolverhampton, announced a return to profit in its end of year results, which saw total pre-tax profits of £14.4 million, turning round £30.6m loss in 2023, with the firm also reporting underlying growth of 64.5 per cent.
The company said it was due in part to the sale of a 40 per cent stake in its Carlsberg Marston's brewing operation, a joint venture with the Danish beer group, in order to focus on pubs and help boost its finances.
According to latest figures from the Office for National Statistics (ONS), the UK economy shrank for the second successive month in October, contracting by around 0.1 per cent, with data revealing activity in pubs, restaurants and retail outlets had been particularly affected by a downturn.
The latest figures from the ONS follow a 0.1 per cent estimated fall in September, meaning it is the first time the economy has contracted for two consecutive months since March and April 2020, during the onset of the Covid-19 pandemic.
Earlier this month, trade body UKHospitality revealed new research which showed additional pressures on the industry, arguing that hospitality firms would also be "disproportionally affected" by chances to National Insurance Contributions for employers. A reduction in rate relief due to kick in next year will also cost hospitality firms an estimated £3.4billion, UK Hospitality says.
