Last checked at 31 Jul 2019 07:00
31 July 2019
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Third Quarter Trading Update
Trading statement covering the 43 weeks ended 27 July 2019.
Operating performance
Like-for-like sales for the 10 week period since our last announcement grew by 2.8% with our performance remaining consistently ahead of the marketa. Growth in food sales was particularly strong, in comparison with a period last year that had included strong drink sales driven by the World Cup and an extended period of sunny weather, demonstrating the breadth and resilience derived from our broad range of established brands.
Total sales have increased by 4.1% in the year-to-date.
Like-for-like trading performance since the last update is set out below.
Like-for-like sales |
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| 33 weeks to 11 May 2019 | 10 weeks to 27 July 2019 | 43 weeks to 27 July 2019 |
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Food | 3.6% | 5.4% | 3.9% |
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Drink | 3.9% | (0.3%) | 3.1% |
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Total |
3.8% |
2.8% |
3.6% |
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Investments
We have opened 6 new sites and completed 230 conversions and remodels in the financial year to date.
Phil Urban, Chief Executive, commented:
"We are pleased with sales performance which remains convincingly ahead of the market. Whilst growth across the market during the early weeks of the period reflected the World Cup and sunny weather last year, we are encouraged by how growth has strengthened in recent weeks. We remain confident in the momentum we have gained, and which continues to build, driven by the ongoing impact of numerous Ignite 2 initiatives."
Definitions
a - As measured by the Coffer Peach business tracker.
For further information, please contact:
Tim Jones - Finance Director | +44 (0)121 498 6112 |
Amy de Marsac - Investor Relations | +44 (0)121 498 6514 |
James Murgatroyd (Finsbury) | +44 (0)20 7251 3801 |
Note for editors:
Mitchells & Butlers is a leading operator of managed restaurants and pubs. Its portfolio of brands and formats includes Harvester, Toby Carvery, All Bar One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Stonehouse, Vintage Inns, Browns, Castle, Nicholson's, O'Neill's and Ember Inns. In addition, it operates Innkeeper's Lodge hotels in the UK and Alex restaurants and bars in Germany. Further details are available at www.mbplc.com and supporting photography can be downloaded at www.mbplc.com/imagelibrary. |