LONDON (dpa-AFX) - Marston's Plc (MARS.L), a British pub and hotel operator, reported Wednesday that its like-for-like sales increased 2.4 percent in the 16-week period to July 20.
The company further said that the trading momentum seen year-to-date provides the Board with confidence that, adjusting for the impact of CMBC, performance will be in line with market expectations.
The company in early July agreed to the sale of its 40 percent interest in CMBC to a subsidiary of Carlsberg for 206 million pounds in cash.
In its trading update for the 42 weeks to July 20, the company said year-to-date like-for-like sales increased 5.2 percent and total retail sales in the managed and franchised pubs increased 6.2 percent.
There was considerable uplift from Euro 2024, with like-for-like sales for the week of the semi-final and final matches rising by 8 percent. This has helped to lessen the impact of recent unseasonably wet weather and a particularly strong comparative period last year.
The company said it continues to see positive momentum across both food and drink occasions. Food sales have been particularly encouraging, with changes to menu proving increasingly popular with guests.
Justin Platt, CEO, said, 'The continued positive trading momentum carried through from H1 has been encouraging. This is a testament to the focus and energy of our team, who are dedicated to giving our guests the very best pub experiences. The disposal of our 40 percent stake in CMBC marks a pivotal step for Marston's, allowing us to become a pure play hospitality business.'
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