Mitchells & Butlers PLC

Mitchells & Butlers reported flat sales in the quarter to July 18 as exceptional heat dented demand at its food-led brands. Food sales across the group fell 2.4%, with Toby Carvery and Miller & Carter steakhouse venues particularly affected, while drink sales rose 2.6% supported by World Cup trading. The company said cost inflation guidance is unchanged at around £120 million for the year and it has accelerated its investment programme, completing 181 site conversions and remodels and acquiring 10 new sites. Like-for-like sales are up 2.2% for the 42 weeks of the year to date, and the group remains confident in delivering full-year expectations.