No cheer at Marston's as pubs feel pain

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Like-for-like sales at Marston's own managed pubs, which include the Pitcher and Piano chain as well as well-known City boozers like the Rack and Tenter, dived 2.9% in the 15 weeks to the start of January and has been even more subdued this month.

In its leased and tenanted pubs, to which it supplies the beer and takes the rent, sales have crashed 6% - indicating more strongly the slide in bar room drinking.

Financial support to landlords is having to increase, Marston's chief executive Ralph Findlay said.

The cost of putting some landlords on rent holidays was £2 million last year and could rise to £3 million this year, he added, while Marston's is pledging not to increase its own beer prices as well as subsidise the rising cost of lager from outside suppliers.