Marston's PLC reported Christmas bookings are well ahead of last year as in unveiled a jump in full-year sales.
The pub operator said in the 52 weeks ended 30 September 2023 total revenue climbed 9.1% to £872.3 million from £799.6 million the year before although it was not enough to prevent a pre-tax loss of £20.7 million compared to profit of £163.4 million before.
On an underlying basis, pre-tax profit advanced to £35.5 million from £27.7 million.
Like-for-like sales rose 10.1% compared to last year with both drink and food sales encouraging, demonstrating the trading resilience of the group's predominantly community pub estate.
Underlying operating margins were flat at 14.3%, preserving margins in a high inflation environment, the company said.
Marstons said current trading was positive, with like-for-like sales since year end up 7.4% compared to last year and with Christmas bookings tracking well and ahead of last year.
The firm said it is targeting margin improvement of at least 200 basis points (bps) in the medium term and will continue to find efficiencies to improve margin.