M&B continued its streak of disappointments as it provided a pre-close trading update for FY15. Signalling a dismal Q4 performance, lfl growth for the 50 weeks came in at 1% (vs. our estimate of 1.4%) vs. 1.3% for the first 43 weeks and 1.7% for H1 15. Lfl food growth reversed to -0.2% (vs. +2.5% in the first 43 weeks ending 25 July) and drinks lfl further dropped to -1.4% (vs. -0.1% in 43 weeks). Management attributed the decline partly to wet weather during these summer months and a sub
25 Sep 2015
Publican disappoints; all eyes on new CEO
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Publican disappoints; all eyes on new CEO
Mitchells & Butlers plc (MAB:LON) | 236 1.2 0.2% | Mkt Cap: 1,408m
- Published:
25 Sep 2015 -
Author:
Vibha Issar -
Pages:
2
M&B continued its streak of disappointments as it provided a pre-close trading update for FY15. Signalling a dismal Q4 performance, lfl growth for the 50 weeks came in at 1% (vs. our estimate of 1.4%) vs. 1.3% for the first 43 weeks and 1.7% for H1 15. Lfl food growth reversed to -0.2% (vs. +2.5% in the first 43 weeks ending 25 July) and drinks lfl further dropped to -1.4% (vs. -0.1% in 43 weeks). Management attributed the decline partly to wet weather during these summer months and a sub