Sales at Mitchells & Butlers restaurants and pubs rise but remain 'volatile'

Sales across the 1,650-strong Michells & Butlers restaurant and pub estate have returned to pre-pandemic levels, despite some "volatility" in performance.

In the 18 weeks since full indoor trading reopened on 17 May, like-for-like sales were 97% of those achieved during the same period in 2019, according to a trading statement for the 51 weeks to 18 September 2021.

In the most recent eight-week period, business has increased to 104% of 2019 levels.

Trading for the group, which operates 15 brands including All Bar One, Harvester and Vintage Inns, has been stronger in suburban and food-led-brands, particularly those at the more premium end of the market.

Total sales for the year, including 18 weeks of enforced closure due to lockdown, are at 45% of pre-Covid levels.

Phil Urban, chief executive, said: "We are encouraged by the improvement in sales performance following the easing of restrictions. However, we are still seeing volatility and a contrast between sales performance at food led and wet led brands, highlighting the continuing uncertainty.

"Our diverse estate, balanced across a wide range of offers, puts us in a strong position coming out of the pandemic."

As of 18 September, Mitchells & Butlers had cash balances on hand of £197m, with undrawn unsecured facilities of £150m.

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