Mitchells & Butlers (M&B) has continued to outperform the market in the eight weeks to 21 September, with like-for-like sales growing by 3.3%.
This was driven by drinks sales which were up 4% during the period, while food was up 2.1%.
The pre close trading update compared well to the 51 weeks to 21 September, where food was up 3.5% and drink up 3.3% in lfls.
Total sales have increased by 4.0% in the year-to-date.
Despite cost headwinds M&B expects the full year group operating profit margin to be at a similar level to last year.
The group has opened seven new sites and completed 239 conversions and remodels in the financial year to date.
Phil Urban, CEO, said: “Sales growth has remained consistently ahead of the market and we carry this momentum forward into the new financial year. We remain confident of the impact of our Ignite initiatives which will be continually reviewed and refreshed as the business moves forward.”
Mitchells & Butlers brands include Harvester, Toby Carvery, All Bar One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Stonehouse, Vintage Inns, Browns, Castle, Nicholson’s, O’Neill’s and Ember Inns.
Precis
Strong drink sales drive M&B’s 3.3% lfls growth
Mitchells & Butlers (M&B) has continued to outperform the market in the eight weeks to 21 September, with like-for-like sales growing by 3.3%. This was driven by drinks sales which were up 4% during the period, while food was up 2.1%. The pre close trading update compared well to the 51 weeks to 21 September, where food was up 3.5% and drink up 3.3%. Total sales have increased by 4% in the year-to-date.
