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Trading statements

Mitchells & Butlers sales dampened by wet weather

21 September 2017 07:37

Mitchells & Butlers grew like-for-like sales by just 0.3% in the eight weeks to 16 September.

The company blamed poor weather, which compared with a sunny period last year.

This specifically impacted drink sales, which fell by 1.2. Food sales increased by 1.5%.

Phil Urban, chief executive of Mitchells & Butlers, said its like-for-like sales performance continued to outperform the market.

"This performance reflects the progress we have made towards our strategic priorities. We continue to work hard to mitigate the cost headwinds faced by the industry and expect to deliver a full year performance in line with the board's expectations," he said.

In the 51 weeks to 16 September, like-for-like sales rose by 1.8% with a 2.1% increase in drink sales and 1.4% rise in food sales.

The group opened 13 new sites, completed 236 conversions and remodels, and disposed of 79 sites which did not fit its long-term estate plan.

Story provided by StockMarketWire.com

Related Company: MAB

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