Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Leisure, gaming and gambling

Mitchells & Butlers gets late weather boost

Good weather helped to boost like-for-like sales by 1.8% in the last eight weeks

MItchells & Butlers (LON:MAB) said it was sticking to its guns after trading improved in the last two months, although margins will still take a hit.

The owner of Harvester and Toby Carvery said good weather helped to boost like-for-like sales by 1.8% in the last eight weeks.

But total sales in the first 51 weeks of the financial year fell by 0.8% and full-year margins would still fall short of last year due to more investment.

Higher wages following the increase in the national minimum wage in the second half also had an impact.

Chief executive Phil Urban said: "We are encouraged by our improved trading performance in recent months.

"Weather in recent weeks has certainly been helpful to sales, but in addition we are starting to benefit from increased investment activity, instilling a commercial culture and a faster pace of execution and innovation.

"We enter the new financial year facing an increasing number of cost headwinds, most notably labour.

"However, based on recent progress we remain committed to our strategy going forward."

Food and drink sales both declined in the 51 weeks to September 17 but rose by 0.4% and 3.7% respectively in the last eight weeks as the sun came out.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK