Mitchells & Butlers PLC First Quarter Trading Update (6760B)
12 January 2018 - 6:00PM
UK Regulatory
TIDMMAB
RNS Number : 6760B
Mitchells & Butlers PLC
12 January 2018
12 January 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
First Quarter Trading Update
Trading statement covering the 14 weeks ended 6 January
2018.
Operating performance
Trading through the core three week festive season was strong,
with LFL sales growth of 3.9%. Christmas Day was a record taking
day with like-for-like sales growth of 5.4% and 225,000 meals
sold.
Over the full 7 week period since our last update our sales
performance has been encouraging, although impacted by the adverse
weather particularly in the run up to the festive season. The
additional (53(rd) ) week in the previous financial year impacts
comparison of sales performance across key dates within this
trading season. Adjusting for this to align calendar dates
like-for-like sales growth was 1.6% over the previous 7 weeks and
2.2% in the year to date.
On an unadjusted basis, like-for-like sales growth in the year
to date was 1.1% and total sales have increased by 0.5%, impacted
by the disposals in the prior year.
Investments
We continue to make good progress with our plans to build a more
balanced estate, in particular premiumising our offers where
possible and reducing the remodel lifecycle. We have opened 2 new
sites and completed 114 conversions and remodels in the financial
year to date and remain encouraged by returns being generated. We
expect to complete around 270 remodels and conversions in the full
year.
Phil Urban, Chief Executive, commented:
"We are pleased to have delivered continued strong trading
results over the important festive period in the face of difficult
weather for many of our guests, indicating the attractiveness of
our offers in a competitive market".
For further information, please contact:
+44 (0)121 498
Tim Jones - Finance Director 6112
Amy de Marsac - Investor +44 (0)121 498
Relations 6514
+44 (0)20 7251
James Murgatroyd (Finsbury) 3801
Notes for editors:
- Mitchells & Butlers is a leading operator of
managed restaurants and pubs. Its strong 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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