(Adds background on costs, quotes from statement)
Jan 24 (Reuters) - Marston's Plc on Friday posted
4.5% growth in like-for-like sales during the two-week Christmas
holiday period, helping the pub operator rebound from subdued
business in early December when wet weather kept Britons
indoors.
The festive season, including Christmas and New Year, has
provided a much-needed boost to the sector, with pub owners
Mitchells & Butlers and J D Wetherspoon also
posting impressive performance updates for the period.
"Marston's has delivered a creditable performance in a
challenging market. Trading in the key Christmas fortnight was
good and has remained solid which is encouraging," Chief
Executive Officer Ralph Findlay said.
Marston's, the two-century old brewer of Pedigree, Hobgoblin
and Lancaster Bomber beers that runs 1,400 pubs, said total
managed and franchise like-for-like sales rose 1% for the
16-week period to Jan. 18.
But British pub operators and restaurant chains have had to
weather steep costs on the back of higher wages and energy
bills.
Marston's said the recently announced increase in minimum
wages were higher than anticipated, adding that it would
increase costs in the second half by an additional 2 million
pounds ($2.63 million) to 3 million pounds.
The company has been looking to sell pubs to cut debt after
posting lower earnings in its last fiscal year. To that end, it
increased the targeted proceeds from such disposals to 85-90
million pounds from 70 million pounds that was set in November.
(Reporting by Muvija M in Bengaluru; Editing by Anil D'Silva,
Bernard Orr)