Marston’s to raise a glass to a good Christmas

Marston’s will raise a glass to a good Christmas at its annual general meeting today after increasing its seasonal sales for a fifth consecutive year.

The Wolverhampton brewer, which produces beers including Pedigree, Wainwright, Banks’s and Jennings, shrugged off “tough comparables” to grow sales across its divisions.

The stock market-listed business increased like-for-like sales in both its destination and premium division and its taverns, managed and franchise pubs division by 1.5%.

Brewing increased volumes by 3% and improves operating margins, while its leased pubs increased profits by an estimated 2%.

“We traded well over the Christmas period with like-for-like sales growth for the fifth successive year despite tough comparatives,” said Marston’s chief executive Ralph Findlay.

“In brewing, we have continued to outperform and once again have achieved good growth with a particularly strong performance in the off-trade.”

The group employs 14,000 people across its estate of more than 1,500 pubs. It said it remains on track to open “at least 20” pub-restaurants and bars and five lodges in the current financial year.

Marston’s full-year performance last year, for the 12 months to October 1, 2016, saw underlying revenues and pre-tax profits rise by 7% to £905.8m and £98.0m respectively.

It currently has a market value of around £800m, although its share price remains more than 10% below its pre-referendum close.