(Reuters) -British pub group Marston’s posted higher like-for-like sales on Wednesday for the 16 weeks ended July 22, helped by robust demand for its drinks and foods during the warmer summer months.
The company posted a 10.9% rise in sales for the period compared with financial year 2022.
The unusual hot weather spell saw Britons visit pubs and bars in local communities to beat the heat.
During the May bank holidays and King Charles’ coronation, UK households spent less at food retailers and ate out more in restaurants.The company expects a more positive outlook on input costs in financial year 2024, adding it is well-placed to navigate any consumer headwinds.
The level of customer demand continues to be good for Marston’s, with sales for the 42 weeks to July 22 rising 10.7%.
However, the Wolverhampton-based pub chain has not declared any dividend since 2020 as macroeconomic headwinds linger.
(Reporting by Anchal Rana and Radhika Anilkumar in Bengaluru; Editing by Sohini Goswami)
