M&B on track with sales rise

22 July, 2010

Mitchells & Butlers, the UK's biggest managed pub and restaurant operator, has reported like-for-like sales for the 42 weeks to July 17 up 1.6% with total sales ahead 2.1%. It said its retail operating margin continued to improve with third quarter margins “slightly ahead” of last year.

In the last nine weeks like-for-like sales rose 1.2% despite the World Cup having a negative effect on food sales, which dropped by 2% on a like-for-like basis -indicating an underlying growth rate of 3.2% in the nine week period.

Chief executive Adam Fowle said he was “content” with progress on its retructure to a food-led business and that he expected the deals to sell 300 wet-led pubs to be done by the end of Autumn.

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The full statementis on the M&B website www.mbplc.com