LONDON (Reuters) - British pubs and brewing company Marston's (L:MARS) said it expected 2014 underlying operating profit to be broadly in line with expectations and added it would build at least 25 new managed pub-restaurants in the new financial year.
Marston's, which has a 1,800 strong estate of managed, franchised and leased pubs and is also known for beer brands such as Pedigree and Hobgoblin, said on Wednesday full-year underlying sales at its core managed pubs were up 3.1 percent.
That indicated a slowdown from 4.1 percent growth in the first 41 weeks of the year, as poor weather in August hit sales.
Sales at its more drink-led managed, franchised and tenanted pubs, and in its leased division also grew 2.1 and 3 percent respectively, the firm said, ahead of its full-year results on Nov. 27.
Like many rivals Marston's is repositioning its estate.
Tapping Britain's growing casual dining market, all of its new pubs are managed, food-led, family-orientated outlets, and the firm is selling a number of drink-led tenanted sites and converting others to a more successful franchise model.
The firm said the overhaul was on track and that 27 new pub-restaurants had opened in the financial year.
According to Reuters data Marston's is on average expected to post an operating profit of 160 million pounds.
(Reporting by Neil Maidment; editing by Kate Holton)