Last checked at 
* Shares flat in early trading
* Co says less exposed to labour shortages
* Co believes worst of the pandemic is behind it
(Adds share move, background, detail)
Nov 30 (Reuters) - British pub operator Marston's said
Christmas bookings were "encouraging" and trading was now
exceeding pre-pandemic levels, as it hopes to turn the corner
after reporting a much bigger annual loss than last year on
Tuesday.
"We believe the worst of the pandemic is now behind us,
albeit we will have to navigate through the coming winter months
if any further government restrictions are put in place,"
Marston's, which has about 1,500 pubs in the UK, said.
The UK has in the past week seen cases of the new Omicrom
variant of the coronavirus, prompting the government to reimpose
some restrictions to curb the spread of the virus.
Restrictions on hospitality earlier in the financial year
due to the pandemic pushed Marston's to an underlying pre-tax
loss of 100 million pounds ($133.12 million) for the 12 months
ended Oct. 2, widening from a loss of 22 million pounds a year
earlier.
But on a reported basis, it made a profit of 119.3 million
pounds, helped by a 291 million pound gain on the sale of its
beer business to Carlsberg UK. https://reut.rs/3xzHbct
That compared to a loss of 397.1 million pounds last year.
Shares in Marston's, which have fallen around 6% this year,
were flat by 0814 GMT.
Marston's, brewer of Pedigree, Hobgoblin and Lancaster
Bomber beer, said its business has been improving since
COVID-related curbs were relaxed in April.
SMALL POCKETS OF DISRUPTIONS
Like the hospitality industry across the world, pub
operators were among the worst hit by the pandemic in Britain,
with months of lockdowns or other restrictions on dining forcing
them to cut jobs or raise funds to get through the crisis.
Marston's said it has decided not to propose a dividend for
fiscal 2021, due in part to the potential for continuing
uncertainty.
Addressing a widespread labour crunch and supply chain
issues, Marston's said its exposure to the worker shortage was
limited due to its predominantly suburban pub estate, while
adding it was working with suppliers after seeing "some small
pockets of disruption" relating to supply.
Last week rival Mitchells & Butlers said its sales
in recent weeks have been higher than before the pandemic but
sounded an alarm about challenges ahead due to rising costs for
staff and utilities.
($1 = 0.7496 pounds)
(Reporting by Chris Peters and Muvija M in Bengaluru; Editing
by Rashmi Aich and Susan Fenton)
