Pub group Shepherd Neame reported a rise in sales on Friday as it hailed strong trading over the Christmas period.
In the 26 weeks to 27 December 2025, like-for-like sales growth across its pubs remained strong, it said, with retail like-for-like sales up 4.5%.
The company said retail pubs traded well over the Christmas and New Year season, with LFL sales up 8.1% for the five weeks to 3 January, driven by a strong performance inside the M25, where sales grew 12.6%.
The group's tenanted estate continues to deliver a robust performance, it said, with LFL pub income 3.1% higher.
Total beer volume declined 6.6% in the 26 weeks to 27 December, while own beer volume fell 11.6% due to the ongoing decline in national volumes.
Chief executive Jonathan Neame said: "Demand has remained resilient throughout this period in our pub business, and we have enjoyed a particularly strong Christmas trading period.
"Whilst our sector continues to face cost headwinds, we expect these to ease as we progress through 2026. The company continues to trade in line with the board's expectations."