Mitchells & Butlers has seen “record outperformance” against the market, with like-for-like sales growth of 9.1% in the 53 weeks to 30th September.
Adjusted operating profit increased by 17.6% to £221m, net of government support. Net debt reduced to £1,170m, and there was a refinancing of a revolving credit facility to July 2026, which rose by £50m to £200m.
“We are delighted by the continued strength of our trading performance, and resilience in the face of unprecedented cost headwinds,” said Mitchells & Butlers chief executive, Phil Urban.
“We have achieved good growth in underlying profit, excluding government support, with like-for-like sales growth across all of our brands, and record outperformance against the market.
“Whilst we remain mindful of the pressures that the UK consumer is facing, the strength of our sales growth, alongside an abating cost environment, gives us confidence for the financial year ahead.
“We will remain focused on our strategic priorities, delivered through our Ignite and capital programmes, which, combined with our diverse portfolio of well-known brands, strong estate locations, and talented people, leave us well positioned to rebuild margins back towards pre-pandemic levels.”