Pub operator Mitchells and Butlers has predicted sales for the last quarter will reach the “top end” of forecasts, after sunny weather brought a 5 percent increase in like-for-like sales.
The All Bar One and Toby Carvery owner said food sales during the period ended 19 July were up 4.9 percent, while drink sales increased 4.8 percent.
“Sales growth has remained well ahead of the market through the third quarter, benefiting from Easter and recent sunny weather,” said CEO Phil Urban. “The business continues to perform strongly, enabling us to meet the cost challenges facing the sector with confidence.”
Reporting on the challenging trading environment, Urban projected that the company will continue to witness sales growth “despite well-publicised cost inflation challenges facing the sector.”
“We will remain focused on our Ignite programme of initiatives and our successful capital investment programme, driving cost efficiencies and increasing sales.”
“With the unique strengths of our business, including a diverse portfolio of established brands, value proposition and enviable estate locations, we believe we are positioned to continue to grow profitability and market share.”
So far this year, the company has opened two new sites, and remodelled 150 venues across its estate.