Mitchells & Butlers food push pays off with Christmas record - Business - Evening Standard
       

Mitchells & Butlers food push pays off with Christmas record

Mitchells & Butlers enjoyed its best ever Christmas Day this year, as growing numbers of Britons decided to let someone else cook the turkey.

The pub-restaurant chain behind Toby Carvery and Harvester sold 200,000 Christmas lunches, often to folk who don't have enough space at home for a family get-together.

Figures for the past three months show sales up 3.9% as the group pushed its strategy of offloading drinks-only pubs and expanding the food arm.

This strategy is bearing fruit, though there remains some scepticism in the City about whether this will be a long-term success.

M&B says results from two of the new Harvesters on retail parks have been "encouraging".

The sales increase comes despite several years of fighting between investors and management. Last year the entire board was replaced in a row with Joe Lewis, the speculator and currency trader who owns 22% of the shares.

This week new chairman John Lovering said he intends to leave after merely a year in the job.

Chief executive Adam Fowle said he hoped today's annual meeting in Birmingham would "less interesting than last year's".

"We have had a number of changes over the years. But the operational performance has been strong."

Fowle said he was "pretty pleased" with the sales figures, which show food sales for the year to October up 4.7%, with drink up 1.4%.

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity