Pub operator and brewer Marston's PLC (LON:MARS) is toasting a year of what it called 'solid' progress, as it saw sales of its own brand beer up 13%.
The maker of Pedigree and Brakspear ale, which also runs restaurants and accommodation, said underlying profit before tax for the year to end October had been in line with the company's expectations and trading had continued at similar levels since then.
In its destination and premium business, like-for-like sales were 2.3% ahead of last year including food like-for-like sales growth of 1.7% and drink like-for-like sales growth of 2.3%, underpinned by strong growth in room income.
The operating margin was in line with last year and it completed 22 new pubs and bars and six lodges in the financial year just ended.
In this financial year, the group said it plans to open at least 22 pubs and bars and at least five lodges with the openings programme weighted towards the second half year.
"We continue to have a good pipeline of sites to maintain similar levels of expansion for the foreseeable future," it added.
Shares dipped 1.12% to 141p on the news.