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Marston’s PLC on Tuesday reported strong trading over Christmas ahead of its annual general meeting as it expected to build on the trading momentum to maximise its future potential. The Wolverhampton, England-based operator of around 1,400 pubs said in the 16 weeks to January 20, total retail sales in the firm’s managed and franchised pubs rose 8.8% year-on-year, with strong sales of both food and drink. The company said this demonstrated ‘the resilience and appeal of [its] predominantly suburban pubs’. For the key festive days, being Christmas Eve, Christmas Day, Boxing Day and New Year’s Eve, like-for-like sales jumped 9.6%. Further, on a like-for-like basis, sales were up 8.1%. ‘It has been an encouraging start to the year. This, together with an improving outlook in which inflationary headwinds are broadly abating, and the actions we are taking to operate more efficiently and rebuild margins, position Marston’s well for the year ahead,’ said Chief Executive Officer Justin Platt. The company expects ‘to build on the trading momentum to maximise the group’s future potential’, CEO Platt added. The company will release financial half-year results on May 14. The company’s last half-year ended on April 1, 2023. Marston’s shares were 0.9% higher at 33.60 pence each on Tuesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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