Marston’s flags earnings hit from rising costs

(Reuters) – Pub operator Marston’s said on Wednesday it was cutting costs and switching up its pricing strategies to counter a surge in food and energy expenses brought by the Russia-Ukraine war and soaring inflation.

The group, which operates more than 1,400 pubs, breweries and inns across England, Scotland and Wales, said the crises would “inevitably” hurt its earnings for the current year.

The company reported a pre-tax profit for the 26 weeks ended April 2, compared with a loss a year earlier.

(Corrects to remove company description ‘brewer’ in paragraph 1)

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Aditya Soni)