LONDON (dpa-AFX) - Mitchells & Butlers Plc (MAB.L, MLB) reported that its like-for-like sales in the third quarter increased by 9.7%, as food and drink volumes grew.
The company's year-to-date like-for-like sales are up 10.0% against 2019, with growth driven by spend-per-head.
The company said in confidence that the current year outturn will be at the top end of consensus expectations, with continued momentum into 2024.
The company announced new reveolving credit facility, which increased its previous unsecured debt facilities to 200 million pounds, and extended the expiry date for a further three years to July 2026.
The company also said that the cost inflation is now starting to abate such that the current year cost headwind should be at the bottom end of the prior range of 10-12%.
Chief executive Phil Urban said, 'We remain focused on our Ignite programme of initiatives and our successful capital investment programme, driving cost efficiencies and increased sales.'
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