Mitchells & Butlers reports strong Christmas and New Year sales
Pub operator Mitchells & Butlers (M&B) has hailed a "strong" performance over Christmas and the New Year, with like-for-like sales up by 3.3% in the 14 weeks to 2 January.
The firm said that like-for-like sales in the ten-day period over Christmas and the New Year, which was less badly affected by poor weather conditions, increased by 4.9%.
Food was the strongest performer, with a 5.7% rise in like-for-like sales over the 14-week period. Meanwhile, drink sales climbed by 2%, according to a trading update issued this morning.
"The Board is still cautious on the outlook for consumer spending especially in the second half of the year. However, Mitchells & Butlers' leading brands and proven operational ability mean that we can face the future with confidence," the company said.
But the statement made no mention of the boardroom drama which gripped the group before Christmas, which saw M&B lodge a complaint to the City's Takeover Panel that some shareholders, including Tottenham Hotspur Football Club owner Joe Lewis, were seeking to seize control without making a formal takeover offer.
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By Neil Gerrard
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