M&B reported its Q3 FY16 trading update (15 weeks ended 23 July 2016) in line with our estimates. The lfl revenue decreased by 0.7% (vs Q2 16: -2.6%, Q1 16: -0.6%; our estimate: -0.8%), primarily on the back of poor weather in June and the adverse impact of Euro 2016. Food revenue declined by 1.5% on a lfl basis, while the drinks business clocked +0.2% growth. For the 43 weeks period, the lfl revenue was down 1.3%, reflecting negative growth in both the food (-1.8%) and drinks (-0.9%) bus
30 Aug 2016
Better performance; turnaround implementation on right track
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Better performance; turnaround implementation on right track
Mitchells & Butlers plc (MAB:LON) | 226 0 0.0% | Mkt Cap: 1,351m
- Published:
30 Aug 2016 -
Author:
Nishant Choudhary -
Pages:
3
M&B reported its Q3 FY16 trading update (15 weeks ended 23 July 2016) in line with our estimates. The lfl revenue decreased by 0.7% (vs Q2 16: -2.6%, Q1 16: -0.6%; our estimate: -0.8%), primarily on the back of poor weather in June and the adverse impact of Euro 2016. Food revenue declined by 1.5% on a lfl basis, while the drinks business clocked +0.2% growth. For the 43 weeks period, the lfl revenue was down 1.3%, reflecting negative growth in both the food (-1.8%) and drinks (-0.9%) bus