Spirit like-for-likes up 3.8%

The company, which completed its demerger from Punch Taverns on 1 August, revealed that like-for-like food sales were up by 7.9%.

Drink sales in the managed division were up by 1.2% (4% for 52 weeks).

However, the company said like-for-like sales comparables in its fourth quarter were affected by the strong World Cup results for the same period in 2010.

Uninvested pub sales grew by 0.9% in the quarter and 3.6% in the year.

Over the whole year like-for-like sales were up 5.2%, food sales 7.2% and drink sales 4%.

The fourth quarter saw an intensive period of investment with 56 pubs undergoing major refurbishment.

The company has refurbished 215 pubs during the year and is focused on expanding the Chef & Brewer, Fayre & Square and Flaming Grill brands with 60% of the estate now refurbished.

In the leased division, like-for-like net income for the quarter was down 3.3% (-4.1% 52 weeks).

Spirit said the estate has an “operational upside potential” and provides a source of growth for the managed estate through leased to managed conversions.

It has already begun the process converting up to 100 leased pubs to its managed brands, with two conversions already completed.

Ian Dyson, chief executive officer, said: “We are pleased with the continued progress we have made in the business, as we strive to become the best managed pub company in the UK.

"We have delivered another quarter of strong growth and have again outperformed the market. While the economic and consumer outlook remains challenging, we believe we have the right plans in place to enable us to make further progress in the coming year”.

Spirit comprises around 800 managed pubs and a further 550 leased sites. The company said it intends to announce its annual results on 20 October.