Pub operator and brewer, Marston's has issued a Trading Update for the 42 weeks to 22 July 2017.
In Destination and Premium, like-for-like sales for the 42 week period were 1.3% ahead of last year. In the most recent 12 weeks of the period, like-for-like sales were up 0.6% which continues to be ahead of the market. Operating margins are slightly below last year, in line with expectations.
The group remains on track to meet growth targets for 23 new pub-restaurants and bars in the current financial year, in addition to eight lodges.
In Taverns, like-for-like sales for the 42 week period were 1.9% ahead of last year, with growth of 2.4% in the last 12 weeks of the period, principally reflecting the benefits of the warm weather in June.
In Leased, profits for the 42 week period are estimated to be 2% ahead of last year.
In Brewing, own-brewed beer volumes were up around 4% compared to last year reflecting the continued good performance of our underlying business and the benefits of the acquisition of Charles Wells Brewing and Beer Business. The integration of the business is proceeding as planned.
CEO Ralph Findlay (pictured) said, 'We remain encouraged by our continued market outperformance and focused on delivering sustainable growth and maximising return on capital in an evolving market place.
'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.
'The Charles Wells brewing and beer business is bedding in well, further underpinning our leadership in the UK ale market. We are on track to complete our new-build and lodge expansion plans. We remain confident of delivering further profitable progress for the full financial year.'