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Mitchells & Butlers expect FY results to meet expectations
Pubs operator Mitchells & Butlers said today it expects earnings for the year to be in line with its expectations and reported a 1.3% rise in like-for-like sales in the nine weeks to Sept 20.
The owner of the Harvester and All Bar One chains said productivity gains of 5.1% and cost management had helped offset cost increases during the period, in food in particular the firm has held it's food bill increase to only 3% in the 51 weeks, helped by the increase in it's volume of food sold, where same outlet sales have risen 3.6%.
The business has profitably integrated the 200 plus Whitbread pubs it bought, and has absorbed the effects of the smoking ban, seeing the first increase in drinks sales (albeit just 0.3%) since the dip in volume which followed it's introduction.
The owner of the Harvester and All Bar One chains said productivity gains of 5.1% and cost management had helped offset cost increases during the period, in food in particular the firm has held it's food bill increase to only 3% in the 51 weeks, helped by the increase in it's volume of food sold, where same outlet sales have risen 3.6%.
The business has profitably integrated the 200 plus Whitbread pubs it bought, and has absorbed the effects of the smoking ban, seeing the first increase in drinks sales (albeit just 0.3%) since the dip in volume which followed it's introduction.
Tue, 23rd Sep 2008