Mitchells & Butlers has released its latest trading figures, revealing that sales remained unchanged during the 13 weeks leading up to July 18. The company, which operates popular chains including Toby Carvery and Miller & Carter, pointed to unseasonably extreme weather as the primary factor affecting consumer behavior.
Despite the challenging atmospheric conditions, the group’s management highlighted the resilience of their business model. They noted that a diversified property portfolio helped mitigate the external shocks caused by the prolonged heat.
Looking ahead, the FTSE 250 firm expressed confidence in its ability to meet full-year expectations. This optimism is underpinned by ongoing investment strategies and the continued execution of internal growth initiatives, which management believes will offset the flat performance of the summer quarter.
Source: The Guardian