Marston’s said the smoking ban had made market conditions tougher.
The pub operator reported a 1% like-for-like growth in sales in the eight weeks to 9 January, which also indicated a slowdown over the Christmas period. Profits from its tenanted business were down 0.6 % and brewing volumes were also down.
Ralph Findlay, Marston’s chief executive, said: “Since the smoking ban, wet sales and machine income have been under pressure and we’ve seen those trends continue and probably accelerate over the last couple of months.”
He was also cautious for 2008. Shares fell 16¾p to 271½ p.
The Times 26/01/08 (Business) page 57
The Independent 26/01/08 (Business) page 54
