Pub giant Marston’s has hailed a “strong performance” on the back of positive trading over Christmas.
However, shares in the company slid in early trading on Wednesday.
The company, which runs an estate of more than 1,300 pubs across the UK, reported that like-for-like sales grew by 4% over the 17 weeks to January 24, compared with a year earlier.
It said this included 5.6% over five key Christmas trading dates, including Christmas Day and New Year’s Eve.
Nevertheless, it came after the company had told shareholders in November that Christmas bookings were up 11% year-on-year.
Boss Justin Platt stressed the company has seen “resilient” like-for-like sales, while trading has also been boosted by investment in the group’s venues.
Marston’s said it completed refurbishments to 23 of its pubs over the latest quarter, with plans to complete 50 over the financial year.
It also pointed towards a potential boost from a “strong programme of demand-driving events” in 2026, including from the 2026 FIFA World Cup.
The company is also expected from new business rates relief for pubs unveiled by the Government on Tuesday.
Marston’s did not disclose the impact of plans to cut business rate bills by 15% next year, but analysts at Panmure Liberum indicated it could knock “up to £4 million” off its annual bill.
Mr Platt, chief executive of Marston’s, said: “Our pubs have delivered another strong start to the year, with standout performances across our key festive trading dates including setting a new record for Christmas Day – a clear reflection of the strength of our community pubs and the passion and energy our teams bring to every service.
“Supported by a clear strategy, disciplined cost control and a strong programme of demand-driving events, we are excited for the opportunities ahead and remain confident in delivering market expectations for the full year.”
Shares dropped by 10.7% on Wednesday morning.
