Birmingham pubco cheered by strong festive trading
Birmingham pubco Mitchells & Butlers has announced improved trading over the important Christmas and New Year period.
In a trading statement covering the 14 weeks to January 6, 2018, M&B said trading through the core three-week festive season was strong, with like-for-like sales growth of 3.9%.
Christmas Day was a record taking day with like-for-like sales growth of 5.4% and 225,000 meals sold.
The performance helped to turnaround a disappointing run-up to the festive period, which the company said had been impacted by adverse weather.
Adjusting for an extra week in the previous year, like-for-like sales growth was 1.6% and for the year to date, is up 2.2%.
On an unadjusted basis, like-for-like sales growth in the year to date was 1.1% and total sales increased by 0.5%, impacted by the disposals in the prior year.
The company said it was also making good progress with its plans to build a more balanced estate, in particular maximising its offers where possible and reducing the remodel lifecycle.
It has opened two new sites and completed 114 conversions and remodels in the financial year to date and said it remained encouraged by the returns being generated.
It expects to complete around 270 remodels and conversions in the full year.
Phil Urban, Chief Executive, said: “We are pleased to have delivered continued strong trading results over the important festive period in the face of difficult weather for many of our guests, indicating the attractiveness of our offers in a competitive market.”