Third Quarter Trading Update

RNS Number : 2742H

Mitchells & Butlers PLC

31 July 2019

 

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 market^a. 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
	33 weeks to 11 May 2019			10 weeks to 27 July 2019		43 weeks to 27 July 2019
Food	3.6%			5.4%		3.9%
Drink	3.9%			(0.3%)		3.1%
Total	3.8%			2.8%		3.6%

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	[phone]
Amy de Marsac - Investor Relations	[phone]
James Murgatroyd (Finsbury)	[phone]

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.

 

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