Marston's confident of meeting expectations

20th May 2010 07:44

Pubs operator Marston's reported a rise in first half profits and said it was confident of meeting expectations for the full year.Profit before taxation and exceptional items was £27.8m in the 26 weeks ended 3 April, 0.4% ahead of last year. Revenue also rose slightly to £309.2m from £307.5m last time.?The board has declared an interim dividend of 2.1 pence per share.The group said it has made a positive start to the second half, with like-for-like sales growth of 1.2% in its managed pubs in the six weeks to 15 May, adding that trends continue to improve in tenanted and leased pubs and in brewing."We remain cautious because of economic and regulatory uncertainty. We nevertheless see opportunities to continue to develop our business, given our positioning with regard to well established consumer trends," said chairman David Thompson. "We have clearly defined growth plans, with a particular focus on cash flow, good cost management and improving return on capital."