Thanks Ma’am, says M&B as Jubilee weekend sales soar
BIRMINGHAM pub and restaurant company Mitchells & Butlers saw a spike in sales over the Diamond Jubilee weekend.
Like-for-like sales growth was 0.4% in the 14 weeks to July 14 and 1.9% for the 42 weeks of the year to date.
The firm suggests its performance has been resilient but said it had been adversely impacted by the persistent wet weather and the negative impact of the European Football Championships.
“Within this, trading on key days and special occasions has remained strong with 4% like-for-like sales growth over the five days of the Diamond Jubilee weekend,” it said.
Total sales M&B retained estate were up 5.1% in the first 42 weeks. Total company sales, including the impact from major disposals last year, were up 2.6%.
M&B said trials of its new ‘ways of working’ are progressing well and the roll-out of free wi-fi across the whole of its estate is now more than 50% complete.
It added that the process to appoint a new CEO and further non-executive directors is continuing and remains a priority for the board.
Bob Ivell, executive chairman, said: “Despite the continuing poor weather and challenging economic conditions, we are continuing to deliver a resilient operating performance.
“Our business transformation programme is progressing well and we are increasing the focus on guest service in all parts of the business. We remain on track to deliver full year results in line with market expectations.”
