Marstons Plc said that for the 23 week period to March 12th it's overall LFL sales were up 2.4% on last year ( food up 4.7% drinks up 1.5% ) with an improved operating margin in it's managed pubs. Even it's tenanted pubs showed an improvement, attributable primarily to the continuing successful rollout of the franchise-style Retail Agreement, which will be operating in around 190 pubs by the half-year. Marstons actual brewing business produced 4% more volume in an ale market down 7%, with "local" brands and premium ales up 5% and bottled ales up 16%. Marstons are on target to open 20 new pubs in the year to 30 September 2011, having completed five new pub-restaurants to date with a further three due to complete in the next 8 weeks. Ralph Findlay, Chief Executive said: "The performance of the Group in the year to date has been encouraging. Our consistent focus on offering our consumers value for money in high quality pubs, together with sector-leading shares in growth segments of the beer market, places us in a strong position for the future." Shepherd Neame, the Kent-based brewer and pub operator, in it's H1 results, said it's brewery volume was down 0.7%, despite a 7.9% increase in it's Bishops Finger premium bottled beer and a 25% increase in Asashi, it's Japanese licenced beer. Like Marstons, SN's own managed pubs produced a 3.6% LFL sales increase, whilst it's tenants EBITDA reduced 0.6% with an improving underlying trend. Shepherd Neame bought two additions to the tenanted estate, The Parrot, Canterbury and The Cock, Boughton Monchelsea for £2.6 million. It also paid off £3.75 million from a £15 million term loan, thanks to strong cash generation in the business. Miles Templeman, Chairman, said: "This has been another good performance for the company. We have achieved record turnover and record total beer volume against a background of adverse weather conditions and pressure on disposable income." Looking for Businesses for Sale or Commercial Property agents, find lettings and investment property in the UK? www.ukbusinessproperty.co.uk
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