Who says Britons' just stay at home to have a drink these days?
Results from Marston's PLC (LON:MARS), the beer maker and owner of the Pitcher & Piano chain, among others, showed a business delivering profits and shareholder returns.
And there could be further growth despite potentially difficult economic headwinds ahead, the firm told investors. Perhaps people will need a drink to forget about the economic gloom seemingly exposed in yesterday's mini-budget?
Pre-tax profit at Marstons rose 7% to £98ml, while revenues for the year to October 1 were also 7% higher. Operating profit was 4% up. Average profit per pub was up 8% in 2016, up around 50% since 2012. Shares eased 2.43%.
Marstons $MARS finals look good, fewer exceptionls, adj eps 14p (12.7), decent cash flow, final divi 4.7p, still +ve https://t.co/cHbVxLlF5d
— Steve Markus (@smarkus) November 24, 2016
Things were far less rosy over at estate agent and lettings business Countrywide plc (LON:CWD). Shares sank over 12% having fallen yesterday 5% as the group laid bare the troubles it was having due to Brexit in its latest half year.
"We anticipate that the reduced level of market transactions we have seen in the second half of this year will lead to our 2016 EBITDA being around the lower end of market expectations," the group told investors.
Hitting it were changes in stamp duty but also the loss of confidence among buyers and sellers after the vote on June 23 about where the economy and interest rates are heading.
Peel Hunt rates the shares a hold and clipped its target back to 170p from 250p.
"Sales transactions for 2016 will be lower than 2015, with 2017 likely to be lower again. 2016 EBITDA will be at the lower end of expectations. There’s no light at the end of the tunnel here," said analyst Gavin Jago.
Foxtons (LON:FOXT), Rightmove (LON:RMV), were also down on the day.
Countrywide shares hit by double blow https://t.co/DT6KNig1ty via @MortgageChat
— Robyn Hall (@robynhall) November 24, 2016
In small caps, one of the standout risers was Namibia-focused copper miner Weatherly International plc (LON:WTI), which shot up almost 18% on the back of a positive operational update.
It appears to be turning a corner after recent big challenges, reaching nameplate production again at its Tschudi copper mine two months earlier than forecast.
In addition, Tschudi has capacity to process many more tonnes at lower costs, while at the group's Otjihase and Matchless underground deposits, the group has identified a low-risk and potentially cash-generative opportunity to start work again at Otjihase.
Potash project developer Sirius plc (LON:SXX) was the most actively traded share - with over 209mln bits of paper changing hands.
It came as existing investors wholeheartedly backed the group's financing plans by taking up their full allocation in the open offer portion of the mine developer’s fundraising.
The North Yorkshire-focused group said today it had received acceptances for just over 185mln shares.
Elsewhere, more Brexit fallout and of course the Autumn Statement were very much in focus.