Marston's cheers bumper Christmas as sales rise 4%

(Sharecast News) - Pub group Marston's on Wednesday said it expected to meet full-year forecasts after like-for-like sales rose 4% in the 17 weeks to January 24, driven by strong holiday trading and a record performance on Christmas Day. The company, which has an estate of more than 1,300 pubs, said it had a "strong" programme of demand-driving events lined up, including a new initiative centred on the Roald Dahl's characters Matilda and the 2026 football world cup "which represents a significant summer trading opportunity".

Underlying annual profit before tax is expected to be £78.7m in a range of £76.1m - £83m, according to a company compiled poll. The sector has been under pressure from higher costs such as property taxes and wage rises, while cost-and-health-conscious consumers have baulked at the soaring prices of alcoholic drinks.

The UK government on Tuesday announced a support package for pubs and live music venues in England, providing some relief from the property tax rises announced last year, which left the hospitality industry reeling.

Marston's exited brewing in 2024 to focus on hospitality with a move to five distinct formats: locals, sports pubs, adult dining, family, and two-room venues. It converted 23 sites in the first quarter and targeted more than 50 completions for the fiscal year, adding that new format pubs "continue to outperform".

Reporting by Frank Prenesti for Sharecast.com