StockMarketWire.com - Restaurant and pub operator Mitchells & Butlers remained confident that they would deliver full-year results in line with expectations as the hot summer and the World Cup helped boost like-for-like sales.

In the 8 weeks to 22 September, like-for-like sales growth was 2.2% on a calendar basis (adjusting for the additional week in the company's 2017 accounting period). The period also saw a more normalised split between drink and food sales following a period of very strong drink growth over the summer.

On a reporting basis, meanwhile, the company saw like-for-like sales grow 0.8% in the past 8 weeks, and 1.2% in the year to 22 September. Total sales increased by 0.5% over the period, impacted by the disposals in the prior year.

However, cost headwinds were, as previously advised, expected to lead to lower year-on-year margins.

"We are building momentum as a result of our focus on our strategic priorities and are seeing encouraging results from the second wave of transformation activity. Work continues to mitigate the cost headwinds impacting the industry and we remain confident of delivering full year results in line with the Board's expectations," said Phil Urban, Chief Executive.




At 8:13am: [LON:MAB] Mitchells Butlers PLC share price was +7.7p at 264.7p



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