24 Jan 2017 07:00
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24 January 2017
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MARSTON'S PLC
AGM TRADING UPDATE
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Marston's PLC issues the following Trading Update for the 16 week period to 21 January 2017 in advance of the Company's Annual General Meeting to be held at noon today.
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Trading
Our performance in the financial year to date has been encouraging, including good trading over the Christmas and New Year period despite tough comparatives.
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In Destination and Premium, like-for-like sales were 1.5% ahead of last year including like-for-like food sales growth of 0.6%, wet like-for-like sales growth of 1.4% and strong growth in room income. Importantly, operating margins are in line with last year. Our plans to open at least 20 new pub-restaurants and bars and five lodges in the current financial year are on track.
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In Taverns, managed and franchise pub like-for-like sales were 1.5% ahead of last year.
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In Leased, profits are estimated to be around 2% ahead of last year.
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In Brewing, our strong brand portfolio has performed well with own-brewed volume up 3% in the year to date and operating margins slightly ahead of last year.
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Since it is still early in the financial year our expectations for the full year are unchanged. We will announce our Interim Results for the 26 weeks to 1 April 2017 on 17 May 2017.
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Ralph Findlay, Chief Executive, commented:
"We traded well over the Christmas period with like-for-like sales growth for the fifth successive year despite tough comparatives. In Brewing, we have continued to outperform and once again have achieved good growth with a particularly strong performance in the off-trade."
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ENQUIRIES: Marston's PLC Tel: 01902 329516 Instinctif Partners Tel: 020 7457 2020 Ralph Findlay, Chief Executive Officer Justine Warren Andrew Andrea, Chief Financial Officer Matthew Smallwood    NOTES TO EDITORS · Marston's is a leading pub operator and independent brewer. · It has an estate of 1,569 pubs situated nationally, comprising managed, franchised and leased pubs. · It is the UK's leading brewer of premium cask and bottled ales, including Marston's Pedigree, Wainwright and Hobgoblin. The beer portfolio also includes Banks's, Jennings, Wychwood, Ringwood, Brakspear and Mansfield beers. · Marston's employs around 14,000 people.  |  | ||
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