M&B’s Q4 FY22/23 trading performance was stronger than the street’s expectations. Lfl sales grew 9.7% yoy (+200bp vs the consensus), once again witnessing positive momentum in both the drinks and food segments. The company continued to gain market share. The cost headwinds are also expected to come at the bottom of previous guidance. We expect the sales momentum to continue during FY23/24. We are likely to increase the target price by around 10%.
28 Sep 2023
Lfl sales momentum continues; getting healthier with time!
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Lfl sales momentum continues; getting healthier with time!
Mitchells & Butlers plc (MAB:LON) | 238 1.2 0.2% | Mkt Cap: 1,420m
- Published:
28 Sep 2023 -
Author:
Nishant Choudhary -
Pages:
3
M&B’s Q4 FY22/23 trading performance was stronger than the street’s expectations. Lfl sales grew 9.7% yoy (+200bp vs the consensus), once again witnessing positive momentum in both the drinks and food segments. The company continued to gain market share. The cost headwinds are also expected to come at the bottom of previous guidance. We expect the sales momentum to continue during FY23/24. We are likely to increase the target price by around 10%.