Marston's enjoys strong Christmas and New Year period in all divisions

27th Jan 2015 12:18

Pubs and brewing group Marston's said its financial year has been "encouraging" thanks to a strong Christmas and New Year period.The company said it had a strong Christmas trading period with 4.8% growth in sales, including 12.5% growth on Christmas day in its destination and premium division. Total like-for-like sales were 2% ahead of last year.Its tavern division's like-for-like sales rose 2% compared to last year, with 2.7% growth over the Christmas period.Marston's added that the brewing subsidiary performed strongly with volumes up 8%. Its biggest brand Hobgoblin continued to "perform well" with volumes up 10%.Chief executive Ralph Findlay said: "We have again traded well over the Christmas period, with good sales growth over the key Christmas fortnight for the third year in succession, including serving a record 60,000 meals on Christmas Day."Our beer business continues to perform well, with a particularly strong performance in the off-trade. We remain confident of achieving our expectations for the full year."Numis analysts said despite all divisions being in positive territory, "comps were tough and should be ease into the second half".Even though, the broker gave a 'buy' recommendation and a 180p price target.Shares were down 0.14% to 146.5p on Tuesday at 13:59.