Bumper Christmas boosts Mitchells & Butlers' fortunes

29 January 2015 by
Bumper Christmas boosts Mitchells & Butlers' fortunes

Restaurant and bar firm Mitchells & Butlers (M&B) has reported a 1.7% lift in like-for-like (LFL) sales for the 17 weeks to 24 January 2015.

The company's AGM trading statement, posted today, revealed that total sales were up 9.1% for the same period.

The results were largely driven by strong LFL growth of 4.8% during the two weeks over Christmas and New Year. In particular Christmas Day saw LFL sales growth of 7.1% and more than 200,000 meals sold.

The company reported a 2.8% increase in food like-for-like sales, while drink revenue saw a modest rise of 0.4%.

Alistair Darby, chief executive, said: "As we now move into the more difficult winter trading period we continue our focus on growing our business through increased volumes, upgrading infrastructure and further improving staff turnover and net promoter scores.

"The Orchid integration plan is on track and we are encouraged by the early trading performance of the converted sites."

M&B, which bought 173 pubs from the Orchid Group in a £266m deal last June, said it had acquired four new sites and converted 15 in the financial year to date. These include the first six conversions of Orchid sites to the company's existing brands.

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