Weather hits pub chain sales
The owner of Toby Carvery, Harvester and Vintage Inns has reported strong festive trading.
However, in an update to the markets, Mitchells & Butlers pointed to a wider slowdown linked to bad weather.
The pub group, which operates properties in Tayside and Fife, said likefor-like sales grew 3.9% in the vital three-week trading period to January 6.
Christmas Day saw record takings, with like-for-like sales growth of 5.4% and 225,000 meals sold.
But in the seven weeks leading up to December, comparable sales came in at 1.6% as Mitchells & Butlers was impacted by adverse weather.
Chief executive Phil Urban said: “We are pleased to have delivered continued strong trading results over the important festive period in the face of difficult weather for many of our guests, indicating the attractiveness of our offers in a competitive market.”
In November, Mitchells & Butlers saw its shares plunge after warning it could scrap its next shareholder dividend payout on the back of lower profit.
It also said it faced further risks amid Brexit uncertainty.
The Fair Maid at Perth is run by Mitchells & Butlers Stonehouse Pizza & Carvery brand.