Festive fillip for M&B with sales up 2%

PUBCO Mitchells & Butlers has reported “encouraging” trading over the Christmas period with like-for-like sales growth of 2% in the two weeks of Christmas and New Year.

It also recorded its best ever trading day.

In a trading statement covering the 17 weeks ended 23 January, released ahead of itsAGM, the Birmingham plc revealed total sales were up 1% on a like-for-like basis with food (+1.5%) outperforming drink (+0.6%).

Over the financial year to date total sales have fallen by 0.8% but operating margins are ahead of the prior year.
 
M&B has acquired two new sites and converted 12 in the financial year to date, including a further ten Orchid conversions.  It has also accelerated its remodel programme to revitalise and reposition the estate, with 76 completed so far this year.
 
Phil Urban, chief executive, said: “We had a good Christmas, recording growth across the period and also delivering our best ever trading day. 

“Whilst trading conditions remain tough, particularly as we go into the post-holiday season, we are acting with pace to drive our business priorities – building a more balanced business, developing our commercial culture and increasing the speed of execution and innovation.”