M&B sees wet-led pubs lead the way for Q3

Mitchells & Butlers plc (M&B) has posted its Third Quarter Trading Update, showing like-for-like sales for the 11 week period grew by 0.9%.

There were very strong performances in the 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.

For the period, the group reported that total sales increased by 0.4% in the year-to-date.

Cost headwinds remain largely unchanged and, as previously advised, are expected to lead to margins being lower than last year.

The company has 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.'

Urban concluded, '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.'