Marston’s has accelerated its sell-off strategy, disposing of 388 pubs so far this year – almost double the 202 sold in 2013.
This year’s disposals raised a total of £144m for reinvestment.
The company also opened 27 new pubs this year. Its total portfolio now stands at 1,689 pubs, down from 2,050 last year.
Reporting results revealed a 3.6% dip in sales to £83m for the year to 4 October.
The sell-offs come as part of a two-year estate strategy, which includes plans to open a further 25 pubs in both 2015 and 2016. The company said it expects further disposals to raise around £70m next year.
Chief executive Ralph Findlay said: “We will continue with our expansion strategy to invest in at least 25 new-build pubs each year. We also remain on track to dispose of the residual 200 pubs targeted for sale from our Taverns estate over the next 12 months to create the desired structure for our business for the future.”
