Like-for-like sales rose slightly at pub chain Marston’s (LON:MARS), boosted by World Cup beer sales and good weather.
Like-for-like sales rose 0.9 percent over the past 16 weeks, with total revenue up 5.2 percent over the period. Total volumes in the first 42 weeks of the financial year were up 61 percent year-on-year, total managed and franchised pub sales were up 5.2 percent year-on-year in the 42-week period, with like-for-like sales up 0.3 percent.
The group said it had been “helped by good weather and the football, but with some offset from poor weather in April”, but found that the increase in demand for booze had been largely offset by a decline in demand for food.
T”he recent hot spell has been most welcome after trading in the first half of the year was hit by poor weather, and with about 10 weeks of the trading year to go Marston’s is confident it will deliver underlying earnings in line with market expectations”, the group said.
“We are encouraged by our stronger trading performance in the second half-year, including the benefit of recent good weather and the impact of the World Cup in our Taverns estate and in Marston’s Beer Company,” said Ralph Findlay, the chief executive officer of Marston’s.
“Our strategic objectives and progressive dividend policy remain appropriate for current market conditions and we remain confident of delivering underlying earnings in line with expectations for the full year,” he added.
Shares in Marston’s (LON:MARS) are currently trading down 1.86 percent at 96.00 (0950GMT).
