Marston's Plc (MARS.L), a British pub and hotel operator, reported Tuesday growth in total retail sales and like- for- like sales for the 16-week to January 18, including the key festive period.
Looking ahead, the company said it has continued confidence in delivering to fiscal 2025 market expectations. The fiscal 2025 market consensus for underlying profit before tax is 68.3 million pounds.
In its trading update ahead of Annual General Meeting, Marston's reported that total retail sales in the managed and partnership pubs for the 16-week period were up 3 percent. The sales were driven by growth in both food and drink sales.
Like-for-like sales grew 2 percent, reflecting strong trading over the festive period offset by poor weather conditions in November and January.
During the key festive trading period, from December 22 to January 4, like-for-like sales climbed 11.1 percent. The two-week period included the five key trading days of Christmas Eve, Christmas Day, Boxing Day, New Year's Eve and New Year's Day.
Justin Platt, CEO of Marston's, said, "I am pleased to report a solid first quarter performance for Marston's, with a particularly strong key festive trading period, achieving record sales on Christmas Day. We are excited for the year ahead as we build on this performance through the successful execution of our refocused strategy, driving revenue growth through event driven marketing and the roll out of our differentiated pub formats."
In London, Marston's shares were trading at 40.70 pence, down 3.8%.
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