Mitchells & Butlers Regulatory News (MAB)

30 January 2014

Mitchells & Butlers plc

Interim Management Statement

Strong festive trading: 6.9m meals sold with 2.6% like-for-like sales growth

Operating performance

Our trading performance over the festive period was strong, including our biggest ever sales week. Over the three-week festive period to 4 January, we increased like-for-like sales by 2.6% and like-for-like food volumes by 1.3%, selling 6.9m meals across our estate. Trading on Christmas Day was particularly strong, with like-for-like sales growth of 7.5% and 193,000 meals sold.

Year to date like-for-like sales are up 2.0%, assisted by the strong festive trading and milder weather compared to last year.

Cash flow and balance sheet

We have opened 10 new sites in the financial year to date (including the 4 sites acquired from Convivial London Pubs plc) as we accelerate investment into the expansion of selected brands. The investment into our new pub systems is progressing on schedule with encouraging results, with nearly 400 now installed.

There has been no material change to the financial position of the business since the Full Year Results announcement.

Alistair Darby, Chief Executive, commented:

"We have delivered a strong trading performance over our busiest time of the year, with good sales growth. I was delighted that almost 200,000 people shared their Christmas Day with us and would like to thank the 18,000 staff who worked with such enthusiasm to provide them with a great experience.

We are reducing staff turnover, modernising our systems, increasing guest satisfaction and delivering against our transformation plan to create sustainable value for shareholders."

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