Mitchells & Butlers (MAB) Q3 2024 TU earnings summary
Event summary combining transcript, slides, and related documents.
Q3 2024 TU earnings summary
13 Jun, 2025Executive summary
Like-for-like sales growth of 5.7% year-to-date, with all brands in growth and performance ahead of the market.
Total sales increased by 7.3% in the year to date, reflecting strong trading despite wet weather and easing inflation.
Headline sales growth moderated in Q3 to 3.4% as inflationary pressures eased and Easter timing shifted.
Financial highlights
Food like-for-like sales up 6.0% and drink up 5.3% year-to-date; Q3 growth slowed to 2.6% for food and 4.0% for drink.
Most recent 13-week like-for-like sales growth was 4.2%, excluding Easter impact.
Outlook and guidance
Net cost headwinds of approximately £55m expected for the year, mainly from higher labour costs, partly offset by lower energy costs and slowing food inflation.
Confident in meeting full year consensus expectations, with margin rebuilding anticipated.
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