Shares in pub and hotel group Marston’s (MARS) are down around 18% this year, despite the business continuing to recover from the pandemic and receiving a welcome boost from the chancellor’s Autumn statement which froze alcohol duties until August 2024.

After revealing full-year sales on 11 October, the company is due to update investors on earnings for the year to September on 5 December.

Sales rose 11.1% during the year driven by ‘strong’ beer and food sales and 10.1% growth in like-for-like sales, demonstrating resilience and the appeal of Marston's predominantly suburban estate.

The group has continued to deliver operational efficiencies as well as reducing head office costs by around £5 million, a move which is expected to bring more savings in 2024 and subsequent years.

Energy costs have been fixed for 2024, while a significant proportion of food and drink costs have also been secured which should provide a strong base for profitability.

The company is targeting a 2% improvement in operating margins over the next two to three years.

The results land before new chief executive Justin Platt takes up his post on 10 January 2024, following the surprise news current chief Andrew Andrea would be stepping down.

One of Platt's first challenges will be explaining to investors how Marston's plans to navigate the  government's higher-than-anticipated increase in the national living wage by £1.02 to £11.44 per hour from April.

UK UPDATES OVER THE NEXT 7 DAYS

FULL YEAR RESULTS

4 December: Marston’s, On The Beach Group, Oxford Metrics, Gooch & Housego,

5 December: Paragon Banking, Schroder European Real Estate Investment Trust

FIRST HALF RESULTS

1 December: Mind Gym

4 December: Solid State, Discoverie, Moonpig

5 December: Ashtead, Baltic Classifieds, System1

TRADING UPDATES

5 December: Ferguson

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