Mitchells & Butlers PLC Third Quarter Trading Update (5533W)
02 August 2018 - 4:00PM
UK Regulatory
TIDMMAB
RNS Number : 5533W
Mitchells & Butlers PLC
02 August 2018
2 August 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Third Quarter Trading Update
Trading statement covering the 43 weeks ended 28 July 2018.
Operating performance
Like-for-like sales for the 11 week period grew by 0.9% with
very strong performances in our wet-led estate being offset against
more challenging conditions in food-led businesses, reflecting the
impact of the World Cup and sustained sunny weather. The overall
performance therefore reflects the relative positioning of our
estate across these two main offers.
Total sales have increased by 0.4% in the year-to-date.
Like-for-like trading performance since the last update is set
out below.
Like-for-like sales
32 weeks to 11 weeks to 43 weeks to
12 May 2018 28 July 2018 28 July 2018
Total 1.4% 0.9% 1.3%
Food 1.0% (1.8%) 0.3%
Drink 1.9% 3.9% 2.5%
Cost headwinds remain largely unchanged and, as previously
advised, are expected to lead to margins being lower than last
year.
Investments
We have opened 5 new sites and completed 228 conversions and
remodels in the financial year to date.
Phil Urban, Chief Executive, commented:
"Sales performance since the half year was impacted by England's
prolonged success in the World Cup and the sustained hot weather.
Trading was polarised across the Company, with the wet-led part of
the business delivering very strong growth, but some of the more
food-led formats, particularly the carvery businesses, were
negatively impacted. However, we have been encouraged to see sales
recover now that the World Cup has finished and as we continue on
our longer-term journey.
We remain confident of delivering a full year performance in
line with the Board's expectations. The second wave of
transformation activity is beginning to bear fruit and momentum
behind this programme of work continues to grow."
For further information, please contact:
Tim Jones - Finance Director +44 (0)121 498 6112
Amy de Marsac - Investor Relations +44 (0)121 498 6514
James Murgatroyd (Finsbury) +44 (0)20 7251 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.
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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