M&B like-for-like sales up 2.6%

25th September 2009, 10:37am

Mitchells & Butlers (M&B) has announced a like-for-like sales growth of 2.6% in the 10 weeks to 19 September 2009.

This represents an improving sales trend. In the 51 weeks, same outlet like-for-like sales growth was 1.6% and total retail sales were up by 3.4%.

In the 10 weeks, same outlet like-for-like food and drink sales were up 5.8% and 1.2% with residential pub food sales showing a strengthening trend through the holiday period. 

The Board expects retail net operating margins in the second half of the year to be approximately 1.1% points below those achieved over the same period last year. 

A spokesperson for the group commented on the results: "The outlook for consumer expenditure is uncertain as unemployment continues to rise and is predicted to grow through the first half of next year. In addition, the prospective increase in VAT in January 2010 is likely to impact consumer spending. 

"These factors highlight the difficult economic environment that the industry faces over the next twelve months. However, we believe that the company's combination of strong sites, brands, operational skills and cost management leave the business well positioned in the face of these challenging market conditions."

Related Articles:

• 30 Jun 2010 - New finance director at Mitchells & Butlers pub group
• 19 May 2010 - Mitchells & Butlers pub group reports strong trading
• 24 Mar 2010 - Mitchells & Butlers to reposition food-led pub businesses
• 02 Sep 2009 - M&B announces two new appointments
• 03 Aug 2009 - M&B appoints chief executive officer
• 26 May 2009 - M&B boss steps down after spiralling losses
• 29 Jan 2009 - M&B like-for-like sales up 1%
• 26 Nov 2008 - M&B partners with Marie Curie Cancer Care charity
• 24 Sep 2008 - Mitchells & Butlers' pubs win regional awards

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