Mitchell & Butlers toasts record Father’s Day amid summer sales bounce
- The group saw a quarterly rise in like-for-like sales by 9.7 per cent
- The pub group also revealed it achieved a record-breaking Father’s Day in June
Pub and bar chain Mitchells & Butlers sales have continued to grow as the business looks to rebuild margins back to pre-Covid levels next year.
Mitchells & Butlers, which owns All Bar One and Nicholson’s pubs, along with Harvester and Toby Carvery restaurants, saw a quarterly rise in like-for-like sales of 9.7 per cent, helped by a ‘record-breaking Father’s Day in June’.
Like-for-like sales in the 43 weeks to 22 July also jumped by 8.9 per cent.
Mitchells & Butlers outlined a quarterly rise in like-for-like sales by 9.7 per cent helped by a ‘record-breaking Father’s Day in June’
Significantly, sales were up 10 per cent versus pre-Covid levels.
The Birmingham-based business said that it ‘achieved a record-breaking Father’s Day in June and sales performance across the quarter was relatively consistent outside of weeks impacted by industrial action on national transport strikes.
Phil Urban, chief executive of Mitchells & Butlers, said: ‘We are very pleased to report continued strong like-for-like sales growth through the quarter based on out-performance against the market and underpinned by volume growth in both food and drink.
‘We remain focused on our Ignite programme of initiatives and our successful capital investment programme, driving cost efficiencies and increased sales.
‘Combined with our diverse portfolio of established brands, value proposition and enviable estate locations, we believe this leaves us well positioned to continue to outperform the sectora and deliver a strong full year performance.’
Back in May, the group reported weaker half-year profits following added inflationary pressures and the end of a temporarily lower VAT rate on hospitality businesses.
The hospitality group said its pre-tax profits declined by £17million to £40million for the 28 weeks to 8 April, despite a healthy period of consumer spending.
Earnings were depressed by higher staff salaries and the Ukraine war driving up food and energy bills significantly, as well as an absence of government financial support.