Big freeze puts the chill on Marston's sales
Marston's has been hit by January's big freeze, as it reported that a rise in like-for-like sales in its managed pubs division was dragged down by cold weather.
Like-for-like sales over the 16-week period to 23 January 2010 in its Inns and Taverns business were up by 1.5% on the previous year. Like-for-like sales rose by 2.9% in the five weeks to 2 January, with food sales climbing by 4.4% and drink sales by 1.9%. But the weather dragged down like-for-like sales in January by 5.9%.
Meanwhile, Marston's Pub Company, its tenanted and leased pubs division, saw like-for-like profit drop by 4.9% over the period, compared to 7% in the financial year to 3 October 2009. More disposals of pubs meant that operating profit per pub fell by 1.9%.
The company said volumes of its own-brewed beer were ‘in line' with last year, comparing ‘favourably' to a 6% fall in the UK ale market. Premium cask ale volumes increased 1% and premium bottled ale volumes increased 16%.
Marston's said the outlook for the UK economy remained ‘uncertain' in terms of the impact of recently-implemented and proposed taxation increases on consumer confidence.
"We are nevertheless encouraged by the progress we have made to date in the current financial year and believe that we are well positioned to meet the forthcoming challenges," it said.
Marston's sees profits slide >>
Marston's "cautiously optimistic" as food sales boost trading >>
Marston's and Travelodge to boost business by co-locating future sites >> By Neil Gerrard
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