REG - Mitchells & Butlers - First Quarter Trading Update

Mitchells & ButlersAnnouncement

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RNS Number : 9575O  Mitchells & Butlers PLC  15 January 2026

15 January 2026

 

Mitchells & Butlers plc

LEI no. 213800JHYNDNB1NS2W10

 

First Quarter Trading Update

 

Trading statement covering the 15 weeks ended 10 January 2026.

 

Sales

The business traded very strongly across the festive season with like-for-like
growth of 7.7% over the core three-week period(a), supported by volume growth,
and particularly over the five key festive days(b) which generated combined
like-for-like sales growth of 10.5%.

 

Through the first quarter like-for-like sales have strengthened across the
brand portfolio, growing to 4.5%, and remaining well ahead of the market(c).

 

Like-for-like sales:

 

        8 weeks to         7 weeks to        15 weeks to

        22 November 2025   10 January 2026   10 January 2026
 Food   4.6%               5.6%              5.1%
 Drink  2.8%               4.7%              3.8%

 Total  3.8%               5.2%              4.5%

Total sales have grown by 3.5% in the year to date.

 

Investments

We continue to focus on investment in the estate, and in the year to date we
have already completed 51 conversions and remodels. We remain encouraged by
returns being generated.

 

Outlook

Sales growth strengthened through the first quarter, and we remain confident
in our ability to manage the c.£130m of year-on-year cost headwinds we expect
to face this financial year, driven primarily by increased labour costs and
food cost inflation.

 

Phil Urban, Chief Executive, commented:

 

"We are pleased to report another exceptionally strong festive trading period,
marked by numerous record-breaking performances across our brand portfolio and
continued market outperformance in every segment. Sales growth on key festive
dates was particularly strong, with Christmas Day setting a new all-time
record for the highest sales day, surpassing last year's benchmark.

 

Our focus remains on tackling the significant cost headwinds faced by the
industry this financial year through the effective execution of our Ignite
programme and our successful capital investment programme, driving both cost
efficiencies and increased sales. We remain well positioned to further grow
market share in the year ahead by leveraging the strength of our diverse
portfolio of established brands and enviable estate locations."

 

Definitions

 

a - 14 December 2025 to 3 January 2026

b - Christmas Eve, Christmas Day, Boxing Day, New Year's Eve, New Year's Day

c - As measured by the CGA Business Tracker.

 

For further information, please contact:

 

 Tim Jones - Chief Financial Officer                          +44 (0)121 498 6112
 Amy de Marsac - Investor Relations                           +44 (0)121 498 6514
 James Murgatroyd (FGS Global)                                +44 (0)20 7251 3801

 

 

Note for editors:

Mitchells & Butlers is a leading operator of managed restaurants and pubs.
Its portfolio of brands and formats includes Harvester, Toby Carvery, All Bar
One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Stonehouse,
Vintage Inns, Browns, Castle, Nicholson's, O'Neill's, Ember Inns, Ego
Restaurants and Pesto. In addition, it operates Innkeeper's Collection hotels
in the UK and Alex restaurants and bars in Germany. Further details are
available at www.mbplc.com and supporting photography can be downloaded at
www.mbplc.com/imagelibrary.

 

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