Mitchells & Butlers plc (LON: MAB) have today provided a trading statement covering the 14 weeks ended 4th January 2020.
Operating performance
The group traded well over the core three-week festive period, with like-for-like sales growth of 5.6%, including strong performances on all of the key festive days.
Overall sales have strengthened over the period since our last update with like-for-like growth of 3.5%, with particularly strong food sales growth.
| 7 weeks to16 November 2019 | 7 weeks to4 January 2020 | 14 weeks to4 January 2020 | |
| Food | 1.7% | 4.0% | 3.0% |
| Drink | 0.7% | 2.7% | 1.8% |
| Like-for-like sales | 1.4% | 3.5% | 2.6% |
Total sales have increased by 2.7% over the full year to date.
Investments
In the year to date we have already completed 81 conversions and remodels and opened 1 new site as we continue to improve amenity, and premiumise sites where possible. We remain encouraged by the returns being generated.
Phil Urban, Mitchells & Butlers Chief Executive, commented:
“We are pleased with our trading performance over the festive trading season against a strong set of results last year, again demonstrating the breadth of appeal of our brands for special occasions. We achieved record sales levels across the five key festive days at growth of 6.5%. This continued progress reflects the output of our Ignite initiatives which will continue to be our focus for the year ahead.”
