March 18, 2020 / 7:29 AM / 16 days ago

BRIEF-Marston's Sees Lower Sales in Coming Weeks, Says Unlikely To Pay Dividend

March 18 (Reuters) - Marston’s PLC:

* MARSTON’S PLC - COVID-19 UPDATE

* MARSTON’S PLC - FOR 24 WEEKS TO 14(TH) MARCH 2020, LIKE-FOR-LIKE SALES IN OUR PUBS WERE 1% BELOW LAST YEAR

* MARSTON’S PLC - ALTHOUGH RECENT TRADING HAS BEEN IMPACTED BY COVID-19, THIS HAS BEEN MARGINAL TO DATE

* MARSTON’S PLC - PUB LIKE-FOR-LIKE SALES HAVE BEEN BROADLY FLAT OVER LAST TWO WEEKS

* MARSTON’S PLC - ANTICIPATE THAT GOVERNMENT’S ADVICE WILL RESULT IN SIGNIFICANTLY LOWER SALES IN COMING WEEKS

* MARSTON’S PLC - EXPECT A REDUCTION TO OUR EXPECTATIONS FOR FINANCIAL YEAR 2020

* MARSTON’S PLC - IT IS UNLIKELY THAT AN INTERIM DIVIDEND WILL BE RECOMMENDED IN MAY, RETAINING C.£20 MILLION IN BUSINESS

* MARSTON’S PLC - HAVE SUFFICIENT LIQUIDITY TO MAINTAIN OPERATIONS AT A MATERIALLY REDUCED LEVEL OF BUSINESS

* MARSTON’S PLC - HAVING DISCUSSIONS WITH BANKING GROUP ABOUT PROVISION OF COVENANT WAIVERS FOR SECOND HALF-YEAR Source text for Eikon: Further company coverage:

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