Mitchells & Butlers Festive Period LFL Sales Rise; Margin Up - Quick Facts

(RTTNews) - Mitchells & Butlers Plc. (MAB.L, MLB), an operator of managed restaurants and pubs, Thursday said its trading over the festive period was encouraging, with like-for-like sales growth of 2% in the two weeks of Christmas and New Year.

Meanwhile, like-for-like sales for the nine weeks to January 23 dropped 0.6 percent with 1% decline in food sales, despite flat drink sales.

In the 17 weeks to January 23, like-for-like sales fell 1 percent with weak food and drink sales.

Over the financial year to date, total sales have fallen by 0.8% but operating margins are ahead of the prior year. Phil Urban, Chief Executive, said, "We had a good Christmas, recording growth across the period and also delivering our best ever trading day. Whilst trading conditions remain tough, particularly as we go into the post-holiday season, we are acting with pace to drive our business priorities - building a more balanced business, developing our commercial culture and increasing the speed of execution and innovation."