Mitchells and Butlers sees LFL sales rise by 5.2%
By comparison, Q1 sales increased by 7.7%, Q2 by 6.1% and Q3 by 3.4%
Mitchells and Butlers has reported a 5.3% like-for-like sales growth for the 51 weeks ended 21 September 2024 and a 5.9% increase in total sales in the year to date.
The group’s food sales were up 5.3% for the year to date, while its drink sales increased by 4.9%.
Like for sales in Q4 increased 2.5%, which the group said was “ahead of the market”. Its Q4 sales also reflected “a progressive easing of the inflationary environment, as well as an unseasonably cool and wet summer period and the disruption caused by riots in city centres during August”.
By comparison, Q1 sales increased by 7.7%, Q2 by 6.1% and Q3 by 3.4%.
Additionally, in the year to date the group completed 185 conversions and remodels and have opened six new sites alongside the continued rollout of a number of initiatives to reduce energy usage, such as solar panels and sensors.
Looking ahead, Mitchells and Butlers stated that net cost headwinds will reduce to £55m this financial year with increases in labour costs substantially mitigated by deflation in our energy costs, but also slowing food cost inflation and strong cost control at site level.
Coupled with a robust sales performance, ahead of the market, it also remains confident in the delivery of a full year result at the upper end of consensus expectations.
Phil Urban, chief executive, said: “Sales growth has continued to normalise as inflationary cost pressures ease whilst our diverse portfolio of established brands and advantaged estate locations underpin our outperformance against the market.
“We enter the new financial year armed with a fresh wave of initiatives under our Ignite programme and a full capital investment programme planned to deliver cost efficiencies, increased sales and to further drive market out-performance and increasing profitability.”
