Robust trading at Marston's

27th Jul 2011 07:57

Pubs owner and ale brewer Marston's said trading in the last 42 weeks had been robust, particularly in food sales, despite the difficult trading environment. Inns and Taverns, its managed pubs division, saw like-for-like sales for the 42 weeks to 23 July 2011 increase 2.9% from the same period last year. This included like-for-like food sales growth of 5% and like-for-like wet sales growth of 1.8%. Chief executive Ralph Findlay said he was "encouraged by the resilience of the business in the year to date." In the last ten weeks like-for-like sales rose 2% against strong trading over the same period last year, which included the World Cup and good weather. Operating margin has improved compared to last year, Marston's said. In its Pub Company, the group's tenanted and leased pubs division, underlying profit trends continued to improve. Like-for-like profits are expected to be 0.5% ahead of last year. "Our focus on offering value for money with high service standards in a quality pub environment is generating strong consumer appeal and maximising returns," the group said in a statement.Marston's Beer Company saw beer volumes rise 2% from last year, outperforming a declining market. "Our focus on localness and premium ales contributed to this growth with premium cask ale up 4%," Marston's explained. Net debt and cash flow are in line with company expectations.---CJ