Mitchells & Butlers encouraged by recent trading

28 September 2004 by
Mitchells & Butlers encouraged by recent trading

Pub group Mitchells & Butlers expects sales for the year to 30 September to be at the top end of its expectations.

The company, whose chains include Harvester and All Bar One, said like-for-like sales in the 19 weeks to 18 September were up by 6% on last year.

Food sales were 8% ahead and drinks up by 5%.

The growth was driven by the 70% of the group's pubs situated in residential areas.

Like-for-likes here were up by 7%, which the company said "was led by a particularly strong performance in our pub-restaurant brands, Harvester, Toby and Vintage Inns."

In the group's high-street pubs, like-for-likes were up by 3.9% "led by recovery in our central London businesses."

But the company warned that it expected to incur increases in external costs next year, as well as about £4m in extra energy costs.

And it added: "In the pub sector in general, there remains regulatory uncertainty over smoking and strong price competition in the high street."

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