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Trading statements

Mitchells & Butlers struggles with cost pressures

27 July 2017 08:57

Pub group Mitchells & Butlers (MAB) managed like-for-like sales growth of 2% in the 43 weeks to 22 July, but said cost pressures are expected to result in margins being lower than last year.

Drink like-for-like sales grew by 2.7%, while food like-for-like sales rose by 1.4%.

Drink sales were particularly strong in the last 10 weeks, rising by 3.8%, helped by the sunny weather.

Phil Urban, chief executive, said the cost headwinds remain challenging.

He said the company is working hard to mitigate these and is confident it can deliver a performance for the full year in line with the board's expectations.

At 8:57am: (LON:MAB) Mitchells Butlers PLC share price was +16.4p at 239.9p

Story provided by StockMarketWire.com

Related Company: MAB

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