Mitchells and Butlers hit by wet weather

Pubs owner Mitchells and Butlers has posted minimal like-for-like sales growth following persistent wet weather and the negative impact of the European Football Championships.

Like-for-like sales growth was 0.4% in the 14 weeks to July 14th and 1.9% for the 42 weeks of the year to date, although the firm was keen to emphasise that during this time there have been days of strong trading, including the five days over the Diamond Jubilee weekend which saw strong 4.0% like-for-like sales growth.

LFL growth in the most recent nine weeks has seen growth 1.6%.

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Total sales for the Retained Estate were up 5.1% in the first 42 weeks, while total company sales, including the impact from major disposals last year, were up 2.6%.

Bob Ivell, Executive Chairman, said: "Despite the continuing poor weather and challenging economic conditions, we are continuing to deliver a resilient operating performance. Our business transformation programme is progressing well and we are increasing the focus on guest service in all parts of the business. We remain on track to deliver full year results in line with market expectations.

"The trials of our new 'ways of working' are progressing well and the roll-out of free wi-fi across the whole of our estate is now more than 50% complete. We continue to focus on delivering excellent customer service and guest satisfaction to drive operational performance. Overall, the business transformation programme remains on track."

The share price rose 1.7% to 257.10p by 09:35.

NR