Marston's plans new pubs after "strong" Christmas
Wolverhampton pubco Marston’s has delivered what it calls “an encouraging and robust performance” for the 16 weeks to 22 January 2011. Like-for-like sales in the Christmas trading period rose by more than 11 per cent, and the company said it plans to open a further 45 pubs in the next two years.
In Marston's Inns and Taverns, like-for-like sales for the 16 week period were 2.1 per cent ahead of last year, including like-for-like food sales growth of 4.4 per cent and like-for-like wet sales growth of 1.2 per cent.
Like-for like sales in the Christmas trading period from 23 December to 3 January was up 11.2 per cent.
Marston’s said that net debt and cashflow are “in line with our expectations”
The company, which opened two pub-restaurants in 2011 and began eight new developments, said it expected to open 20 pubs in 2011 and 25 in 2012.
In a statement, the company said: “We are encouraged by our performance to date, with the growth in like-for-like sales demonstrating the appeal and resilience of our offers despite the challenges presented by the weather in December.
“We are confident that our continued focus on offering our consumers value for money in high quality pubs, together with sector-leading shares in the growth segments of the beer market, places us in a strong position for the future.”
