Thirsty customers a tonic for M&B

BIRMINGHAM pubco Mitchells & Butlers saw an increase in sales in its third quarter, with drink sales performing especially well.

In an interim management statement the firm revealed like-for-like sales growth increased to 1.6% in the third quarter. 

In the most recent nine weeks, since the announcement of its half year results, like-for-like sales growth was 2%.

Sales of drinks were up by 2.7% in Q3 and food sales were up by 0.2%.

M&B say there has been no material change to its financial position since the half year results, with net debt broadly unchanged at £1.8bn. 

The pubco has opened 11 new sites and converted five sites so far this financial year.

Chief executive Alistair Darby said: “While the cash in people’s pockets remains tight, consumers continue to demand great service and excellent value when they eat and drink out. 

“In this context, we are pleased with the progress that we are making through our business transformation programme to empower and develop our people, modernise our practices and delight our guests.

“By focusing on the most attractive consumer spaces and building on our fundamental strengths of an excellent estate and strong brands, we are positioning the business for future sustainable growth. We remain on target to deliver a full year result in line with the board’s expectations.”