UK: Marston's "resilient" with bottled ale sales up 10%
Marston's is expecting Euro 2012 and the Jubilee to boost sales
Marston's has reported a “resilient” trading performance in the 23 weeks to 10 March, but has warned that the consumer backdrop will remain “weak” throughout 2012.
In a trading update issued today (March 14), the Wolverhampton-based brewer and pub operator said that, after a good Christmas and New Year, market conditions had been “subdued”. Profitability, however, continues to be "in line with expectation”.
Like-for-like sales of drinks in its managed pubs were up 3.4% during the period. In its tenanted and franchised pubs, underlying profits continue to increase, with profits estimated to be 3% ahead of last year, the company said.
Premium cask ale sales were up 2% and bottled ale up 10% in the period.
On future prospects, Ralph Findlay, Marston's chief executive, said: “We expect the consumer backdrop to remain weak in 2012, but with potential for better trading periods around Euro 2012 and the Queen’s Diamond Jubilee."
The company's interim results for the 26 weeks to the end of March will be announced on 17 May.
To read Marston's trading update, click here.
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