LONDON (ShareCast) - (ShareCast News) - Restaurant and pub chain owner Mitchells & Butlers said trading through the core three week festive season was "strong", with like-for-like sales growth of 3.9%.
In a trading statement for the quarter to January 6, the company said Christmas Day was a record taking day with like-for-like sales growth of 5.4% and 225,000 meals sold.

"Over the full seven week period since our last update our sales performance has been encouraging, although impacted by the adverse weather particularly in the run up to the festive season," the company said.

"The additional (53rd) week in the previous financial year impacts comparison of sales performance across key dates within this trading season. Adjusting for this to align calendar dates like-for-like sales growth was 1.6% over the previous seven weeks and 2.2% in the year to date."

M&B said on an unadjusted basis, like-for-like sales growth in the year to date was 1.1% and total sales increased by 0.5%, impacted by the disposals in the prior year.

"We continue to make good progress with our plans to build a more balanced estate, in particular premiumising our offers where possible and reducing the remodel lifecycle," the company said.

"We have opened two new sites and completed 114 conversions and remodels in the financial year to date and remain encouraged by returns being generated. We expect to complete around 270 remodels and conversions in the full year."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE