CompaniesMarston's boosted by Hobgoblin and Halloween

No frights for investors at the start of Marston's financial year, with the UK brewer and pub operator saying it is ahead of last year after a particularly strong performance from its Hobgoblin beer over Halloween.

Over the past eight weeks, like-for-like sales are up around 2 per cent, with profits higher too.

Hobgoblin is made by Marston's Wychwood Brewery and is a 5.2 per cent abv brown ale or "ruby beer" available in bottles, cans and casks.

On its full year to October 4, the FTSE 250 company reported underlying group revenues rose 1 per cent to £788m, but profits before tax fell 3.6 per cent to £83m, depressed by disposals and a shorter trading period.

Ralph Findlay, chief executive, said the business was being helped by "signs of modest economic improvement, with the emergence of real wage growth and resilience within the economic regions outside London".

He added:

This year we have made good progress in transforming the quality of our pub estate through the continuation of our new-build development plans and the disposal of weaker pubs. Our Brewing business is benefiting from our category leadership in premium ale and new product development.

Looking forward, we will continue with our expansion strategy to invest in at least 25 new-build pubs each year. We also remain on track to dispose of the residual 200 pubs targeted for sale from our Taverns estate over the next 12 months to create the desired structure for our business for the future.