Mitchells & Butlers reports 5.2% rise in like-for-like sales

Mitchells & Butlers has reported like-for-like food and drink sales growth of 5.2%, with the easing of inflation in recent months boosting its numbers.

In a pre-close trading update for the 51 weeks to 21 September 2024, the operator of Harvester, Toby Carvery, O’Neill’s and Ego Restaurants said that total sales had risen by 5.9%.

On a like-for-like basis sales slowed during the period, with food and drink up 7.7% in October to December 2023, but dropping to 2.5% in the past three months. Mitchells & Butlers said this reflected an unseasonably cool and wet summer along with disruption caused by riots in city centres.

It added that it had completed 185 conversation and refurbishments in the period and opened six new sites.

Chief executive Phil Urban said: "Sales growth has continued to normalise as inflationary cost pressures ease, while our diverse portfolio of established brands and advantaged estate locations underpin our outperformance against the market. 

“We enter the new financial year armed with a fresh wave of initiatives under our Ignite programme and a full capital investment programme planned to deliver cost efficiencies, increased sales and to further drive market out-performance and increasing profitability."

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