M&B benefits from Christmas celebrations

CHRISTMAS and New Year celebrations have boosted festive trading for Birmingham-based pubco Mitchells & Butlers.

Like for like sales grew almost 5% I the four weeks to January 7, M&B said today.

In a trading statement covering the 15 weeks to January 7, the pubco said like-for-like sales had grown by 1.7% on the previous year, continuing to build on the progress reported earlier in the year.  

Total sales increased by 2.3% in the year-to-date.

Phil Urban, Chief Executive, M&B said: “This is an encouraging performance, building on positive momentum from earlier in the year.  We are starting to benefit from the many initiatives we continue to put in place, which gives us confidence in successfully delivering our strategic priorities going into the new year and a performance in line with the board’s expectations.”

Over the 15-week period, food sales grew 1.6% and drink sales by 1.7%. However, the company said increased cost pressure was expected to lead to margins being lower than last year. 

The company said it had opened one new site and completed 69 conversions and remodels in the financial year to date.  It expects to complete around 300 remodels and conversions in the full year.
 

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