Shares digital

Pub operator Marston's warns that first half pre-tax profits will be impacted by higher interest charges.

The higher charges relate to last year's £150 million share buyback programme. Shares were off 2%, or 3.8p in early trade to 202 pence.

The Midland's-based pub operator and brewer said today that like-for-like sales for the 24 weeks to 15 March were 0.3% up on the previous year at its managed division. Food sales were up 7.8% and drinks sales down 3.1%. Machine income declined 10.3%.

The group said its tenanted and leased division is showing like-for-like profit slightly below last year, with rental income growth offset by beer volumes and machine income declines.

Marston's said volumes at its brewing division remain below last year though it has increased market share through its performance in the premium ale segment.