M&B reported 1.8% lfl sales growth (c.20bp below our estimate) in 51 weeks ended 16 September 2017. The drinks business clocked 2.1% revenue growth while the food segment was up 1.4%. Reported revenue surged 2.9% (vs our estimate: +1.1%), largely due to 13 new sites during the period. The company disposed of 79 under-performing pubs (worth £46m) and completed 236 conversions/remodels during the year.
25 Sep 2017
Unfavourable weather hits the top-line
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Unfavourable weather hits the top-line
Mitchells & Butlers plc (MAB:LON) | 239 6 1.1% | Mkt Cap: 1,429m
- Published:
25 Sep 2017 -
Author:
Nishant Choudhary -
Pages:
2
M&B reported 1.8% lfl sales growth (c.20bp below our estimate) in 51 weeks ended 16 September 2017. The drinks business clocked 2.1% revenue growth while the food segment was up 1.4%. Reported revenue surged 2.9% (vs our estimate: +1.1%), largely due to 13 new sites during the period. The company disposed of 79 under-performing pubs (worth £46m) and completed 236 conversions/remodels during the year.