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Trading statements

Marston's sales ahead of the market

26 July 2017 07:34

Pub and brewery Marston's (MARS) grew like-for-like sales in its destination and premium division by 1.3% in the 42 weeks to 22 July.

In the most recent 12 weeks of the period like-for-like sales were up 0.6%, which Marston's said continues to be ahead of the market.

Operating margins were slightly below last year in line with expectations.

The company said its cost outlook for 2018 remains unchanged and it is on track to open 23 new pub-restaurants and bars in the current financial year, in addition to eight lodges.

In the taverns division, like-for-like sales were 1.9% ahead of last year, with growth of 2.4% in the last 12 weeks of the period, thanks to the warm weather in June.

In the leased business, profits for the 42 week period are estimated to be 2% ahead of last year.

Own-brewed beer volumes were up around 4%.

Ralph Findlay, chief executive officer, said: "Our transformed pub estate continues to deliver positive like for like growth across all three divisions. We benefit from an operating structure which spans food-led destination and wet-let community pubs, accommodation and brewing, maintaining a good balance within our brand portfolio and broad consumer appeal."

Story provided by StockMarketWire.com

Related Company: MARS

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