Dow Jones Newswires: Mitchells & Butlers sees strong trading over festive season

by | Jan 12, 2023 | Stock Market

Mitchells & Butlers PLC
MAB,
+5.16%
said Thursday that it experienced strong trading over the holiday season with like-for-like sales for the year to date up 10.4% on year. The U.K. pub-and-restaurant operator said that like-for-like sales for the five weeks ended Jan. 7 were 19% higher, driven by a 23.4% rise in drink and a 15.8% rise in food.

“We remain focused on our Ignite program of initiatives and our successful capital investment program, driving cost efficiencies and increased sales,” Chief Executive Phil Urban said. “Combined with our diverse portfolio of established brands, value proposition and enviable estate locations, we believe we are well positioned to meet the challenges of the year ahead.” Shares at 0804 GMT were up 3.10 pence, or 1.9%, at 165.80 pence. Write to Ian Walker at ian.walker@wsj.com

Article Attribution | Read More at Article Source

Share This