Mitchells & Butlers Q3 sales growth remains ahead of market.
Pub group Mitchells & Butlers said on Thursday that Q3 growth had remained ahead of the market.
Source: Sharecast
Mitchells & Butlers said like-for-like sales were up 5.7% year-to-date, with food sales up 6% and drink sales growing 5.3% year-on-year.
Looking forward, M&B warned that it anticipates net cost headwinds in the region of £55.0m as a result of increases in labour costs due to the statutory National Living Wage rise.
However, Mitchells & Butlers said this had been partly mitigated by deflation in energy costs, slowing food cost inflation and strong cost control at site level.
"Coupled with a robust sales performance we believe this will allow us to continue to rebuild margins and we remain very confident in the delivery of full-year consensus expectations," said Mitchells & Butlers.
As of 1130 BST, Mitchells & Butlers shares were down 0.33% at 300.0p.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
