LONDON (dpa-AFX) - Mitchells & Butlers (MAB.L, MLB) reported that its like-for-like sales for the third quarter rose 3.4%. The third quarter growth rate reflected the movement of Easter into our fiscal first half this year, coupled with a progressive easing of the inflationary environment, through a period of generally wet weather, the company said.
The company reported like-for-like sales growth of 5.7% in the year to date period.
The company continues to anticipate net cost headwinds in the region of 55 million pounds this financial year with increases in labor costs due to the statutory National Living Wage rise mitigated in part by deflation in energy costs, slowing food cost inflation and strong cost control at site level.
Alongside strong sales performance, the company anticipates this will enable it to further strengthen margins, reinforcing its high confidence in meeting full-year consensus expectations.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
