Pub group Mitchells & Butlers saw strong like-for-like sales growth of 8.5% ABV against the previous half year in the six months to 8th April.
Costs remain a concern, says the company, but the medium-term outlook is now improving. Sales growth and cost efficiencies are now being achieved.
Total revenue was £1,282m with operating profit of £99m and pre-tax profit of £40m.
“The trading environment for the hospitality sector remains challenging, with inflationary costs putting pressure both on the industry’s margins and disposable income of our guests,” said chief executive, Phil Urban.
“However, we are encouraged by the resilience of trade to date, including the most recent six weeks at 8.9% like-for-like sales growth, and also by early signs of the medium-term cost outlook improving.
“We remain focused on our Ignite programme of initiatives and our successful capital investment programme, driving cost efficiencies and increased sales. Combined with our diverse portfolio of established brands, value proposition, enviable estate locations and talented people, we believe we are well positioned to continue to outperform the sector.”
