Mitchells & Butlers gains as sales exceed pre-COVID levels
23/09/2021 11:09
** Shares of Britain's Mitchells & Butlers Plc MAB.L up
2.4% at 269p
** Co says sales over the past two months have been above
pre-pandemic levels, as customers thronged to its hundreds of
pubs and restaurants after months-long restrictions urn:newsml:reuters.com:*:nL4N2QP104
** Stifel says revenue run-rate back in growth and is
recovering well as expected
** Smaller rivals Fuller Smith & Turner Plc FSTA.L and
City Pub Group Plc CPC.L also pointed to improving trends for
the hospitality industry, as the pandemic shuttered venues for
prolonged periods
** FSTA says like-for-like sales for seven weeks to 18 Sept
stands at 86% of 2019 levels and expects to benefit from
increasing footfall in the city and with continued return to
office working urn:newsml:reuters.com:*:nEQ8dRTVya
** CPC says trading is on an upward trend and since 17 May
sales are above 90% of 2019 levels urn:newsml:reuters.com:*:nRSW6858Ma
** MAB up ~21% this year as of last close
(Reporting By Geetha Panchaksharam)
((geetha.panchaksharam@thomsonreuters.com))