Marston’s PLC (LSE:MARS) reported stronger sales than the wider pubs sector in the past quarter and also disclosed a much-reduced debt pile.
Marston's is now a pure pub company after selling off a final stake in its brewery business via the £206 million sale of its final 40% stake in the CMBC joint venture to co-owner Carlsberg in July.
The Wolverhampton-based group posted a year-end trading update showing 5.8% sales growth for the 53 weeks to 28 September.
Like-for-like sales growth was 4.8%, which it said was an outperformance of the broader pub market, thanks to "good momentum" for both food and drink.
Directors are confident of meeting full-year expectations for underlying PBT of around £40.5 million.
LFL sales were up 3.8% in the last 13 weeks of its financial year, which was a fairly strong result in the face of very wet weather in latter weeks.
Food sales "performed exceptionally well", which Marston's said was a good indication for potential business over the coming festive season.
Following the CMBC sale, full-year net debt excluding property lease liabilities should finish at roughly £885 million, down around £300 million on a year ago.
Marston's is "in a strong position to drive value for our shareholders as a focused pub business", said chief executive Justin Platt, ahead of an investor day scheduled for next week.