LONDON (dpa-AFX) - Mitchells & Butlers Plc (MAB.L, MLB), a British operator of pubs, bars, and restaurants, said on Thursday that it has reported an improvement in like-for-like sales for the fourth quarter, driven by higher food sales with the strongest performances in premium, food-led brands.
For the final quarter, the firm posted a like-for-like sales growth of 1.5 percent, compared with the fourth quarter of 2019, before Covid-19.
Food segment posted a like-for-like sales growth of 4.1 percent, whereas drinks segment registered a decline of 1 percent, compared with the fourth quarter of 2019.
For the full-year, Mitchells & Butlers registered a like-for-like sales growth of 1.1 percent, compared with 2019.
Phil Urban, Chief Executive, said: 'The trading environment for the hospitality sector remains very challenging, with cost inflation putting increasing pressure on margins, and we are also mindful of the pressures on the UK consumer over the coming months. We remain focused on the delivery of our Ignite programme of initiatives, driving sales and delivering cost efficiencies.'
The company's total sales for the full-year have declined by 1.3 percent, following temporary Covid-19 shutdowns in the initial period of the year and site disposals since 2019.
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