Marston's, the pub operator with more than 1,300 sites, said underlying profit before tax would beat the top end of market expectations, which ranged up to £83.2 million.
Profits are now more than three times the level recorded in 2023.
The group said it would accelerate its pub format conversion programme to at least 100 sites in the coming year, up from 60 in 2026.
Its Grandstand sports-focused format has been the standout performer, delivering returns on invested capital above 30% and around 30% sales growth versus pre-investment levels.
Full-year like-for-like sales were 1.2% lower, though the trend improved to broadly flat in the fourth quarter, supported by stronger summer trading and a boost from the FIFA World Cup.
Leverage fell to approximately 4.2 times EBITDA, roughly half the level of 2023, following another year of strong free cash flow generation.
The board said it intended to announce a share buyback programme at the full-year results, due on 24 November.
