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Date: Wednesday 15 Oct 2008

LONDON (ShareCast) - A resilient performance at Marston's leaves the pub group predicting earnings before exceptional items for the year to 4 October will be in line with expectations after benefiting from a slightly reduced tax charge.

Full year turnover was about 2% ahead of 2007, but second half sales were “more subdued” due to falling consumer confidence, increasing inflationary pressures, poor summer weather. Rising food, energy and brewing costs pressured margins.

Like-for-like sales at the managed pub division were 0.6% below last year, while the tenanted and leased pub division saw like-for-like profit drop 1.7% below 2007, including a fall of around 3% in the second.

Costs relating to employment, food, energy and brewing raw materials are expected to increase by around £12m next year, in addition to higher duty, said the firm.

Final results are expected to be announced on 5 December.

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