Marston's growth will create 1,250 jobs a year

The firm, which employs 13,000 across the country including 1,100 at its Wolverhampton headquarters, has just announced rises in both underlying turnover - up three per cent to £384.5 million.

Meanwhile, pre-tax profit has gone up two per cent to £29.6m for the six months to April 4. It has increased its interim dividend by 2.5p a share as a result.

Chief executive Ralph Findlay said the group now had 1,600 pubs including eight new-build pub/restaurants completed in the first half of this year.

He said the rise in profits was despite the costs of disposals of some of its estate and anticipated extra pensions costs.

Marston's has sold off 65 of its smaller pubs in the period helping to generate £26m. Since becoming a PLC the group has sold more than 500, mainly small tenanted pubs.

"Two years ago, we set out our plan to reposition our pub estate, focusing on high-quality pubs with opportunity for further growth," he said.

"As we approach the end of the transition period, these results demonstrate our plan is working.

"Profits have increased in each of our trading segments, excluding the impact of disposals, and we remain on track to complete 25 new-builds this year with excellent visibility on our site pipeline in 2015 and 2016. We are also seeing good opportunities to expand our premium estate, Pitcher & Piano and Revere, and invest further in pubs with accommodation.

"We expect to complete the majority of our disposals programme this year and our momentum gives us confidence of achieving further progress in the future."

Marston's, which operates five breweries across England, has also invested £9m in its new headquarters building at Chapel Ash which is on schedule to open in early February.

It has also bought the brewing operations of Thwaites, for whom it has brewed beer at Banks's Brewery since 2014, for £25m.

Mr Findlay said Banks's was now running close to full capacity.

Brewing revenue is up nine per cent, with ale volume up four per cent and operating profit up 10 per cent.

Mr Findlay said sales of its bottled beers, half of which were through supermarkets, were very strong and it now had 23 per cent of the UK bottled ale market and 20 per cent of the UK premier cask ale market.

Like-for-like sales in Marston's top-drawer pubs were up 1.5 per cent for the six months and are ahead two per cent since with food sales up by 1.8 per cent. Another new pub and restaurant The Knot & Plough is due to open at Stafford's Beacon Business Park in June.

The Oddfellows in Bridgnorth Road, Compton, is also due to re-open soon following a significant refurbishment.

In the group's managed and franchised Taverns pubs, like-for-like sales grew 1.4 per cent for the half year and 2.8 per cent since then.

Mr Findlay said that Marston's was to add more lodges offering rooms for customers to its biggest pubs.

"We are expecting to increase the number of lodges we build to five a year," he added.

Its Pitcher and Piano chain is to be increased by about three a year.

Mr Findlay said: "We have enjoyed a pretty strong half year with decent like-for-like growth in our pubs.

"We are continuing to look at what is around for new sites that will fit in with our strategy and make the right kind of return."