Pub group Marston's has seen shares slide after weaker food sales weighed down on its annual profits.

The pub group and brewer said it expects to deliver a £101 million underlying pre-tax profits for the year to September 28, down from £104 million last year.

Ralph Findlay, chief executive officer of the Wolverhampton-based group, said its food-focused pubs delivered only "modest" growth, although this was offset by stronger beer sales.

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He hailed "further growth" in the company's drinks business, as its drink-orientated Taverns business "performed strongly".

Group sales rose 3% to £1.2 billion over the year, while the company saw higher operating profits in the taverns and brewing arms.

The company said that total pub sales also increased 3%, on the back of its pub expansion programme and like-for-like sales growth of 0.8%.

Flybe has rebranded to Virgin Connect following its sale to a consortium of rival operators including Virgin Atlantic earlier this year.

In March, shareholders in the airline business backed its sale to Connect Airways, a consortium comprising Virgin Atlantic, Stobart Air and Cyrus Capital, for just £2.2 million.

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Flybe completed the sale of its assets to the group in the deal worth only 1p per share.

Mark Anderson, chief executive officer of Connect Airways, said the company was "hugely excited" by the "milestone" which he said marks a new era for the airline.

Services have continued as normal after the group offered the airline, which operates more UK domestic flights than any other airline, a £20 million bridge loan amid financial difficulties.

In July, Christine Ourmieres-Widener stepped down from her role as chief executive of Flybe following the change of ownership.

US banking giant Goldman Sachs reported a worse-than-expected slump in net income during the third quarter as most of its core divisions suffered falls.

The 150-year-old banking group saw net income slip 18% to $1.8 billion (£1.4 billion).

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Meanwhile, third-quarter revenues fell to $8.32 billion (£6.61 billion), from $8.65 billion (£6.87 billion) in the same period a year earlier, but remained marginally ahead of analyst forecasts.

Trading, which has previously been a troubled spot for Goldman, delivered a 6% increase in revenues to $3.29 billion (£2.61 billion).

Chairman and chief executive David Solomon said: "Our results through the quarter reflect the underlying strength of our global client franchise and its ability to produce solid results in the context of a mixed operating environment."