LONDON (dpa-AFX) - Marston's plc (MARS.L) issued a trading update for the 16 week period to 19 January 2019. Total pub like-for-like sales growth for the period was 1.4% including strong trading over the Christmas fortnight, with like-for-like sales growth of 5.7%. Total pub margins were broadly in line with last year. In Destination and Premium, like-for-like sales increased by 0.5% in the 16 week period, including like-for-like sales growth of 4.5% in the Christmas fortnight. In Taverns, managed and franchised like-for-like sales growth was 3.2% including growth of 8.1% in the Christmas fortnight.
Marston's plc announced the Group is now committed to targeting a 0.2 billion pounds reduction in net debt to 1.2 billion pounds by 2023. The Board stated that it is committed to maintain the dividend at the current level during this period of debt reduction focus.
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