27th Jul 2023 11:28
(Alliance News) - Mitchells & Butlers PLC on Thursday said strong sales in the third quarter of the financial year will place its results at the top end of market expectations.
For the three months to July 22, the Birmingham-based operator of pubs, bars and restaurants said like-for-like sales grew by 9.7% compared to 6.4% the previous quarter, bringing LFL sales growth in the year-to-date to 8.9%.
Mitchells & Butlers said this was largely driven by an expansion in food and drinks volumes, as well as a "record-breaking" Father's Day in June.
Looking ahead, the company noted that strong trading throughout the third quarter of financial 2023 it remains confident that its full-year out-turn will fall at the top end of market consensus, with continued momentum going into financial 2024.
Shares in Mitchells & Butlers were up 6.2% at 228.59 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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