Trends improve at Marston's

6th Oct 2010 07:14

Midlands-based pub group and brewer Marston's reports improving trends in each of its divisions compared to last year.Earnings before tax and exceptional items in the year to end September are also in line with expectations, the firm added.Managed pubs arm Marston's Inns and Taverns saw like-for-like sales rise 1.7% over the year, including like-for-like food sales growth of 2.5% and like-for-like growth in drink sales of 1.4%. Operating margins also improved, helped by increasing sales of food through its pubs.Profits dropped again at the tenanted business, though the trend has improved with like-for-like profits estimated to be 3.7% below last year compared to a 4.5% decline at halfway.The brewing arm's turnover and operating profit will be slightly ahead of last year. Own-brewed ale volumes were slightly lower than the prior year in a UK beer market that declined by around 6%. Premium ale volumes increased by 3% in the period."We have opened 15 new sites during the year as planned, with both turnover and profit performance in the new openings ahead of our targets. We expect to open 20 new pub-restaurants in 2011 and 25 in 2012," Marston's said.