Mitchells & Butlers Reports 2.1% Like-For-Like Sales Growth

Mitchells & Butlers (M&B) has reported like-for-like sales growth of 2.1% for the 51 weeks to 19 September 2026, helped by a strong August Bank Holiday and a recovery in trading over the final quarter.

The company, whose portfolio includes All Bar One and Nicholson’s, said the August Bank Holiday weekend was a standout period, with like-for-like sales up 5.3%.

Across the fourth quarter as a whole, like-for-like sales rose 1.4%. M&B said the period was supported by the bank holiday and by strong sales of drinks.

M&B kept up its investment in the estate over the financial year, completing 222 conversions and remodels across its restaurants, pubs and bars.

The group also added 11 new sites and bought the freehold of four further properties. The company said the spending is part of its ongoing capital expenditure programme.

Looking to the 2027 financial year, M&B expects cost pressures to ease. It said its efficiency measures and continued capital investment should support further growth in operating profit, though it did not put a figure on that expectation in its update.

Phil Urban, Chief Executive, commented: “We are pleased to see like-for-like sales return to growth in the fourth quarter, with trading performance ahead of the market , demonstrating the strength and resilience of our diverse portfolio of brands and the appeal of our offering to guests. Looking ahead, we enter the new financial year with confidence. Normalised cost headwinds, combined with our ongoing efficiency initiatives and a proven capital investment programme, provide a strong platform for further growth in earnings and long-term shareholder value.

Mitchells & Butlers has a portfolio of managed restaurants and pubs, including Harvester, Toby Carvery, Miller & Carter, O’Neill’s and Browns.