Search
The Caterer

M&B reports good start but uncertainty remains

26 January 2005 by
M&B reports good start but uncertainty remains

Pubs group Mitchells & Butlers (M&B) - whose brands include All Bar One and Harvester - has reported a good start to its financial year, but warned that consumers might start spending less.

At the company's annual general meeting today, chairman Roger Carr said like-for-like sales in the 16 weeks to 15 January were up by 5.2%.

Total pub sales were up by 5%, led by a 10% rise in food sales. Drinks revenues were 2% ahead.

Pubs in residential areas, which make up 70% of M&B's estate, saw like-for-like sales increase by 6.6%, while on the high street the rise was just 2.9%.

"The continuing recovery in central London has helped to offset the more challenging trading conditions on the high street generally," Carr said.

He added: "We have made a good start to the year, although the outlook for consumer spending is increasingly uncertain."

He also warned of "regulatory and energy cost pressures" but said M&B's strategy of "offering value and choice for customers" would help the company overcome this.

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!