REG - Mitchells & Butlers - Third Quarter Trading Update

Mitchells & ButlersAnnouncement

25/07/2025 07:00

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RNS Number : 5126S  Mitchells & Butlers PLC  25 July 2025

25 July 2025

 

Mitchells & Butlers plc

LEI no. 213800JHYNDNB1NS2W10

 

Third Quarter Trading Update

 

Trading statement covering the 42 weeks ended 19 July 2025.

 

Sales

Building on a strong performance through the first half, sales growth has
remained well ahead of the market(a) through the third quarter, benefiting
from Easter and recent sunny weather to increase like-for-like sales growth
for the year to date to 4.5%.

 

Like-for-like sales:

        Weeks 1-15  Weeks 16-28  Weeks 1-28  Weeks 29-42  Weeks 1-42

        Q1          Q2           H1          Q3           YTD
 Food   4.0%        3.6%         3.8%        4.9%         4.2%
 Drink  3.6%        5.1%         4.3%        4.8%         4.5%

 Total  3.9%        4.7%         4.3%        5.0%         4.5%

Total sales in the year to date have increased by 4.4%.

 

Investments

So far this year we have completed 150 conversions and remodels and have
opened 2 new sites, in addition to the purchase of 2 freehold interests in
existing sites and the continued rollout of initiatives to reduce energy
usage, such as solar panels and sensors.

 

Banking Facilities

We have successfully refinanced our unsecured debt facility. The new Revolving
Credit Facility has been reduced in size to £150m (from £200m) extending to
July 2028 and is based on the same covenant structure at lower margins. The
facility is undrawn at the current time.

 

Outlook

Despite well publicised cost inflation challenges facing the sector we remain
encouraged by the continued strong performance of the business, which remains
well ahead of the market. We are confident that this will lead to an outturn
result for the current year at the top end of consensus expectations.

 

Phil Urban, Chief Executive, commented:

 

"The business continues to perform strongly, enabling us to meet the cost
challenges facing the sector with confidence. We will remain focused on our
Ignite programme of initiatives and our successful capital investment
programme, driving cost efficiencies and increasing sales. With the unique
strengths of our business, including a diverse portfolio of established
brands, value proposition and enviable estate locations, we believe we are
positioned to continue to grow profitability and market share."

 

 

Definitions

a - As measured by the CGA Business Tracker.

 

For further information, please contact:

 

 Tim Jones - Chief Financial Officer                          +44 (0)121 498 6112
 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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