British pub group Marston's said today its Christmas bookings were running ahead of last year, following a 64.5% jump in annual profit, driven by a pick-up in food and drink sales.
The group, which operates 1,339 predominantly suburban pubs, has seen a recovery in consumer spending with subsequent sales outperforming the broader market.
While the recent UK budget raised costs for employers and businesses in the near term, British consumers have turned less pessimistic and are showing more appetite for spending in the run-up to Christmas, a GfK survey published in November showed.
Marston's said that the company expected additional cost pressures following the budget but considered them "manageable".
The group reported underlying pre-tax profit of £42.1m for the year ended September 28, compared with a profit of £25.6m a year earlier.
Its like-for-like sales rose 4.8% during the year.
