(Sharecast News) - Pub chain Marston's reported a jump in sales on Wednesday as it hailed good levels of demand.
In an update for the 42 weeks to 22 July, the company said like-for-like sales rose 10.7% versus the same period a year earlier. Both drink sales and food sales have been strong, Marston's said, "demonstrating the steadfast trading resilience of our predominantly community pub estate".
In the 16 weeks to 22 July, meanwhile, LFL sales were up 10.9%, thanks to warmer weather in June. Marston's said the level of customer demand remains "good".
Chief executive Andrew Andrea said: "Marston's has delivered another strong trading performance, validating the strategy we are implementing and demonstrating the appeal of our pubs. We are making good progress and are beginning to see the benefits of the actions we have taken in H1, simplifying our trading formats and repositioning our pub portfolio, as well as the investments we have made in our pub gardens and outside trading areas."
He added: "Whilst macro-economic challenges persist for the time being, we remain encouraged by the group's trading resilience and that the pub remains an affordable treat for our guests. An improving cost outlook, together with the actions we are taking to maximise efficiencies, leaves Marston's well-placed to navigate through ongoing economic headwinds."
Marstons (MARS)