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Mitchells & Butlers Says Year To Date Total Sales At 45% Of Pre-Covid Levels

Mitchells & Butlers Plc (MAB.L,MLB), in its trading statement covering the 51 weeks ended 18 September 2021, said that total sales year to date, including 18 weeks of enforced closurea, were at 45% of pre-Covid levels.

As at 18 September the Group had cash balances on hand of 197 million pounds, with undrawn unsecured facilities of 150 million pounds. The Liquidity Facility is now fully repaid within the securitisation.

In the 18 weeks since full indoor trading reopened on 17 May like-for-like sales have been 97% of pre-Covid levels, following an improvement since the last update in the most recent 8 weeks to 104%.

The company noted that trading continues to be stronger in suburban and food-led brands, particularly at the more premium end of the market.

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