Business
Pre-close trading update
Pre-close trading update.
About this update from Mitchells & Butlers Plc
[{"type":"text","content":"\n \nRNS Number : 9289O Mitchells & Butlers PLC 26 September 2013 \n \n\n \n26 September 2013 \n \n \nMitchells & Butlers plc\nPre-close trading update\n \n \nWe expect to deliver a full year result in line with the Board's expectations. Total sales growth in the first 51 weeks was 2.1%. Through the second half, the Group operating margin has remained ahead of last year. At the same time, we have maintained our investment into guest-facing service and amenity.\n \nWe have opened 16 new sites and converted or expanded 6 sites this financial year. The development of our pipeline of new sites for FY14 and FY15 is progressing well and we expect to increase investment into our most successful brands to open around 50 new sites a year over the medium term.\n \nLike-for-like sales were lower in the fourth quarter against a strong comparative performance last year (+3.0%).\n \n\n\n\n\nLike-for-like sales\n\n\nJuly IMS\n\n\nCurrent trading\n\n\nTrading to IMS\n\n\n\n\n\n\n\n42 weeks to\n20 July 2013\n \n\n\n9 weeks to\n21 September 2013\n\n\n51 weeks to\n21 September 2013\n\n\n\n\nTotal\n\n\n0.7%\n\n\n-1.0%\n\n\n0.4%\n\n\n\n\nFood\n\n\n1.0%\n\n\n-0.1%\n\n\n0.8%\n\n\n\n\nDrink\n\n\n0.1%\n\n\n-2.0%\n\n\n-0.3%\n\n\n\n\n \n \nAlistair Darby, Chief Executive, commented:\n \n\"I am pleased with the progress we have made this year, while continuing to make the changes needed to position the business for the future. Based on detailed consumer insight, we have focused our brands on delivering improved performance across a small number of priority areas. These include further improvements in team engagement, operational practices and guest service, which will deliver the next stage of growth.\"\n \n \nThere will be a conference call for analysts and investors at 9.00am; please dial +44 (0) 1452 555 566 and quote conf ID 70817087. Please dial in 5-10 minutes before the conference start time. The replay will be available until 25/10/13 on +44 (0) 1452 550 000, replay access number 70817087.\n \n \nFor further information, please contact:\n \n\n\n\n\nTim Jones - Finance Director\n\n\n+44 (0)121 498 6112\n\n\n\n\nStephen Hopson - Head of Investor Relations\n\n\n+44 (0)121 498 4895\n\n\n\n\nJames Murgatroyd ...