Mitchells & Butlers 8-week LFL Sales Up; Backs Weak FY Margin View - Quick Facts

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Mitchells & Butlers 8-week LFL Sales Up; Backs Weak FY Margin View - Quick Facts


(RTTNews.com) - Mitchells & Butlers Plc. (MAB.L, MLB), an operator of managed restaurants and pubs, reported Thursday that its like-for-like sales increased 1.8% in the most recent 8 weeks, with 0.4 percent rise in food sales and 3.7 percent rise in drink sales.

The company said the sales represent a continuation of the improved trend both over time and relative to the total eating-out market, supported by favourable weather in recent weeks.

Total sales in 15-week period, meanwhile, dropped 0.7 percent and in 28-week period dropped 1.6 percent. Total sales in the first 51 weeks of the financial year fell by 0.8%.

Chief Executive Phil Urban
said, "Weather in recent weeks has certainly been helpful to sales, but in addition we are starting to benefit from increased investment activity, instilling a commercial culture and a faster pace of execution and innovation in our business. We enter the new financial year facing an increasing number of cost headwinds, most notably labour. "

Separately, Mitchells & Butlers announced the appointment, with immediate effect, of Keith Browne
as a non-executive director. Browne is a representative of Elpida Group Limited, a significant shareholder in the company.

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This article appears in: News Headlines
Referenced Symbols: MAB


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