Brewers and pub group Marston’s yesterday announced it had made “profitable progress” in line with expectations for the 41-week period to 18 July.
“In Destination and Premium [brand units], like-for-like sales for the 41-week period were 1.7 per cent ahead of last year, including like-for-like food sales growth of 1.6 per cent and like-for-like wet sales growth of 1.6 per cent,” Marston’s said in a statement.
And it was unfazed by plans to introduce a £9 an hour living wage by 2020, announced in the Summer Budget. Marston’s said that the although this would increase wage costs, the group had expected them to be above the rate of inflation.
Chief executive Ralph Findlay told investors: “We have good visibility over our site pipeline and remain focused on securing further good sites for our future growth.
“These investments, together with the disposal of smaller wet-led pubs and the growth of franchises, have successfully transformed our business over the last three years.”