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Mitchells & Butlers Q1 sales soar on strong Christmas trade
(Sharecast News) - Pub group Mitchells and Butlers said first quarter like-for-like sales grew to 4.5%, driven by a strong Christmas period. The All Bar One and Harvester owner said LFL sales from Christmas Eve to New Year's Day rose 10.5%.
"Sales growth strengthened through the first quarter, and we remain confident in our ability to manage the £130m of year-on-year cost headwinds we expect to face this financial year, driven primarily by increased labour costs and food cost inflation," the company said in a trading statement on Thursday.
Reporting by Frank Prenesti for Sharecast.com
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