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BRIEF-Marston's says comparable sales up 1.8 percent over recent 10 weeks
October 12, 2016 / 6:41 AM / a year ago

BRIEF-Marston's says comparable sales up 1.8 percent over recent 10 weeks

Oct 12 (Reuters) - Marston’s Plc :

* Year-End trading update

* Have made good progress this year with underlying profit before tax in line with management expectations

* In destination and premium, like-for-like sales were 2.3 pct ahead of last year including food like-for-like sales growth of 1.7 pct

* Wet like-for-like sales growth of 2.3 pct, underpinned by strong growth in room income

* In last 10 weeks of period like-for-like sales have grown 1.8 pct

* Operating margin is in line with last year and we completed 22 new pubs and bars and six lodges in financial year just ended

* Marston’s - in 2017 financial year we plan to open at least 22 pubs and bars and at least five lodges with openings programme weighted towards second half year

* Continue to have a good pipeline of sites to maintain similar levels of expansion for foreseeable future

* In taverns, like-for-like sales were 2.7 pct ahead of last year, with growth of 2.0 pct in last 10 weeks including a strong performance in our franchise estate

* In leased, like-for-like profits are estimated to be up 2 pct compared to last year.

* Marston’s - in brewing, our beer brands have performed very strongly, with own-brand volumes up 13 pct for financial year and profits in line with management expectations.

* Trading has continued at similar levels since year end which is encouraging Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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