Mitchells & Butlers who own All Bar One have toasted a good Christmas cheer as they posted “record sales across the key festive days.”
All Bar One and Toby Carvery owner said sales jumped 5.6% in like-for-like sales across the three week festive period.
In the seven weeks to 4 January sales were up 3.5% and the pub owner said rising food sales rose by 4% and drinks sales rose by 2.7% over the period.
Phil Urban, chief executive of Mitchells & Butlers, said the company had a growth of 6.5% and posted “record sales across the key festive days.”
Urban said, “We are pleased with our trading performance over the festive trading season against a strong set of results last year, again demonstrating the breadth of appeal of our brands for special occasions.
“This continued progress reflects the output of our Ignite initiatives which will continue to be our focus for the year ahead.”
Paul Ruddy, equity analyst at Goodbody, said: “The company is the first of the bigger players to report on the festive period and the update showing more than 5% growth will be encouraging to the sector at large.
“The clouds which hung over October and November due to wider macroeconomic challenges seem to have cleared with consumers willing to go out and spend in December – hinting that sunnier skies could lay ahead.”
In early morning trading on Thursday, share rose 2.8% 6o 433.5p.