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09/01/2020

First Quarter Trading Update

Mitchells & Butlers company news

Trading statement covering the 14 weeks ended 4 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 to
16 November 2019
7 weeks to
4 January 2020
14 weeks to
4 January 2020
Food1.7%4.0%3.0%
Drink0.7%2.7%1.8%
Like-for-like sales1.4%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, 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."

For further information, please contact:

Tim Jones – Chief Financial Officer+44 (0)121 498 6112
Amy de Marsac – Investor Relations+44 (0)121 498 6514
James Murgatroyd (Finsbury)+44 (0)20 7251 3801

Note for editors:

Mitchells & Butlers is a leading operator of managed restaurants and pubs. Its portfolio of brands and formats includes Harvester, Toby Carvery, All Bar One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Stonehouse, Vintage Inns, Browns, Castle, Nicholson's, O'Neill's and Ember Inns. In addition, it operates Innkeeper's Lodge hotels in the UK and Alex restaurants and bars in Germany. Further details are available at www.mbplc.com and supporting photography can be downloaded at www.mbplc.com/imagelibrary.

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