Outlook uncertain for Mitchells & Butlers
Total sales at Mitchells & Butlers are down 9.3 per cent for the first 42 weeks of the year. The Birmingham pubco admitted this morning that the short-term outlook for the group was "uncertain".
On a like-for-like basis, sales in the 42 weeks to 16 July were up 3.1 per cent. In the last nine weeks of the period, the figure stood at 2.8 per cent. Drink sales in the last nine weeks were down 0.8 per cent.
Mitchells & Butlers said the results were filed against "weaker" comparable results last year, due to the football World Cup.
Total company sales in the first 42 weeks were down 9.3 per cent.
In a statement, the company said: "Economic pressures continue and consumer expenditure in our market has weakened in the last couple of months with the short term outlook remaining uncertain.
"Despite these near term challenges, our long term focus remains on strengthening the business, lowering costs, driving sustainable revenue and improving customer experience as we better utilise our well-placed sites and brands."
