Marston's trading as expected after year of profit growth

Marston's said business was growing as expected this year after the pub operator and brewer increased annual profits in what it described as challenging conditions.

The brewer of Marston's Pedigree, Banks's and Brakspear said underlying pre-tax profit for the year to the end of September rose 3% to £100.1m on revenue up 10% to £992.2m. Statutory pre-tax profit rose 24% to £100.3m.

Marston's said rising revenue was due to new pub openings and sales growth at established pubs despite a quiet summer for the pub trade. The company, which owns the Pitcher & Piano chain, has more than 1,500 pubs including almost 400 that target families eating out and about 800 traditional local pubs. It has acquired several real ale brands to increase beer earnings to 15% of earnings from 10% over the past 10 years.

Marston's said: "These results demonstrate the continued merit of our strategy, with growth in revenue and earnings despite challenging market conditions in the second half. Trading in the current financial year is in line with our plans. Pub like-for-like sales and beer volumes have been in growth for the first seven weeks of the period."