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Mitchells & Butlers (MAB) investor relations material
Mitchells & Butlers Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong festive season trading with like-for-like sales growth of 7.7% over the core three-week period, and 10.5% growth over the five key festive days.
Like-for-like sales for the first quarter grew 4.5%, outperforming the market across the brand portfolio.
Total sales increased by 3.5% year-to-date.
Financial highlights
Food like-for-like sales rose 5.1% and drink sales 3.8% over the 15 weeks to 10 January 2026.
Like-for-like sales growth was 3.8% in the first 8 weeks, 5.2% in the next 7 weeks, and 4.5% for the full 15-week period.
Outlook and guidance
Confident in managing approximately £130m of year-on-year cost headwinds, mainly from higher labour and food costs.
Focus remains on cost efficiency and sales growth through the Ignite and capital investment programmes.
Well positioned to grow market share leveraging a diverse brand portfolio and prime estate locations.
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