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Marston's 16-week Pubs Total Managed & Franchise Like-for-like Sales Up 1.0%

Marston's Plc. (MARS.L), in its trading update for the 16 week period to 18 January 2020, said that pubs total managed and franchise like-for-like sales growth for the period increased 1.0%, reflecting continued growth in drinks sales offset by weaker food sales.

Trading over the Christmas fortnight was strong, with like-for-like sales growth of 4.5%, compensating for more subdued trading in the first three weeks of December as a consequence of poor weather.

In Marston's Beer company, volumes are slightly behind last year reflecting a weaker performance in the Off-Trade in December, particularly with lager sales. Excluding lager, volumes are in line with last year. Earnings are in line with its expectations.

The company plans to reduce its borrowings by 200 million pounds by 2023, with the intention to generate annual net cashflow of at least 50 million pounds after dividends by that time.

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