Marston’s PLC (LSE:MARS) has served up a strong set of annual results and said the measures set out in the Autumn Budget add some extra cost pressures but are "manageable".
The pub company reported a £42.1 million underlying pre-tax profit for the year to September 28, a 64.5% increase on the year before.
Revenues of £898.6 million were up 3% on the year before, with like-for-like sales up 4.8% to outpace the broader market as both food and drink sales bubbled higher.
Investors and analysts had been fretting over the reaction to the Budget, but Marston's said it "puts some additional pressure on costs.
But the overall package of measures is considered "manageable" in the context of the strategic targets it set at its capital markets day in October, following the disposal of its 40% share in the Carlsberg Marston's Brewing Company.
Like-for-like sales in the first six weeks grew by 3.9%, which remains ahead of the wider market, it said, with Christmas bookings tracking ahead of last year.