Mitchells & Butlers ‘outperforming’ market after consecutive months of food growth

Chicken Society

Mitchells & Butlers said this morning that sales during the past two months have outperformed the market as it provided a pre-close trading update for its financial year.

The company revealed that like-for-like sales grew by 3.3% for the two months to 21 September, with drink sales growth particularly strong.

Food sales grew 2.1% in the period and are up 3.9% for the 43 weeks to 27 July 2019.

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The bar and restaurant operator said that despite cost headwinds, it expects full-year group operating profit margin to be at a similar level to last year.

M&B continues to make good progress on its investment programme, premiumising offers where possible and reducing the remodel lifecycle. It has opened seven new sites and completed 239 conversions and remodels in the financial year to date.

Chief executive, Phil Urban, said: “Sales growth has remained consistently ahead of the market and we carry this momentum forward into the new financial year. We remain confident of the impact of our Ignite initiatives which will be continually reviewed and refreshed as the business moves forward.”

No investment in seven years for 250 Mitchells & Butlers sites

Tags : BarsfinancialsMitchells & ButlersRestaurants
Andrew Seymour

The author Andrew Seymour

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