Last checked at 
(Alliance News) - Pub operator Marston's PLC on Wednesday said it was encouraged as sales since reopening exceeded its expectations.
Shares in Marston's were up 3.4% to 86.40 pence each in London on Wednesday morning.
The company's entire estate of around 1,500 pubs has been open since May 17, with sales of food and drink reaching 92% of 2019 levels by July 24.
The Wolverhampton, England-based pub operator said its better-than-expected sales resulted from additional food covers, outdoor investment, warmer weather and the benefit of the delayed Euro 2020 tournament.
The company said its recent Brains acquisition - which includes an estate of 156 pubs - also "performed well" since reopening, with trading trends mirroring those of Marston's core estate.
In December 2020, Marston's agreed to operate 141 pubs on a leasehold basis from February, with GBP5.5 million in annual rent chargeable from April.
Accommodation sales have benefited from restrictions on international travel and the growth of staycation holidays, the pub operator said.
"We have previously reported that we achieved break even from a cash flow and earnings perspective in April, and as a consequence of the easing of restrictions we generated positive earnings and cash flow in both May and June despite operating at around 70% capacity for those months," Marston's said.
In the first half of financial 2021, trade was significantly disrupted full closure or significant trading restrictions relating to the pandemic, the company noted.
Restrictions in the second half have continued to limit customer numbers, Marston's added.
Carvery sites, for instance, have faced particular challenges due to restrictions on self-service dining. Like-for-like carvery sales have remained at only 73% of their 2019 level in the period since April 12.
To enhance its trade in early spring and late autumn the company plans to further investment to enhance outdoor seating areas, which can be found at 90% of its pubs.
Marston's said its short-term outlook remains uncertain as the tone of government messaging continues to be an important influence on consumer confidence.
"Despite these challenges the role that the pub plays in the social fabric and culture of Britain as demonstrated by the pent-up demand and the rapid return of customers, is needed as never before, and therefore we are confident in our future," said Chief Executive Ralph Findlay.
By Amrit Sahota; newsroom@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
