Pub operator Marston’s has posted a 5.8% jump in annual retail sales to outperform the broader pub market.

The group’s latest trading update, covering the year to 28 September, also revealed a 4.8% bump in like-for-like sales.

Marston’s, which currently operates 1,339 pubs across the UK, is now solely focused on its pub business after selling off the remaining 40% stake in its joint venture, Carlsberg Marston’s Limited (CMBC), for £206m in July.

The group stated that the combination of this disposal as well as a strong trading performance had enabled a “material reduction” in net debt.

CEO, Justin Platt, said that the strong revenue performance was “very pleasing”.

“This reflects the quality of the experiences we are providing for our guests as well as the continued focus and passion of our team,” Platt commented.

“This performance, combined with our recent disposal of CMBC puts Marston's in a strong position to drive value for our shareholders as a focused pub business.”

Investment director at AJ Bell, Russ Mould, added: “Marston’s has chalked up a pretty solid year all told with decent like-for-like growth. Unsurprisingly growth dipped a little in its fourth quarter thanks to unusually wet weather but, given the backdrop this was a resilient performance and, all in all, this year-end trading update had several features for investors to toast.

“Marston’s has streamlined its estate – selling off a swathe of pubs back in May – and if the company can continue to chip away at a still sizeable debt pile it may one day be able to return to the dividend list after a hiatus which dates back to pre-pandemic days.”

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