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World Cup hits M&B food sales growth
Mitchells & Butlers', owners of Harvester, Toby Carvery, All Bar One, Nicholson's and O'Neill's to name but a few of it's brands and formats, said today, in it's Q3 management statement, that LFL sales over 42 weeks to July 17th were up 1.6%, led by food. However it said there continues to be uncertainty in the outlook for discretionary expenditure and associated pressure on the UK's eating and drinking out market.
M&B, which runs over 2,000 pubs and restaurants across Britain, said its rate of sales growth slowed in June and July as the soccer World Cup dented food sales.
However, it added that its marketing and low prices had generated increases in sales and profitability and formed a strong platform for future growth.
Shares in M&B closed on Wednesday at 303.4 pence, valuing the business at £1.21 billion.
M&B, which runs over 2,000 pubs and restaurants across Britain, said its rate of sales growth slowed in June and July as the soccer World Cup dented food sales.
However, it added that its marketing and low prices had generated increases in sales and profitability and formed a strong platform for future growth.
Shares in M&B closed on Wednesday at 303.4 pence, valuing the business at £1.21 billion.
Thu, 22nd Jul 2010