**Summary**
Mitchells & Butlers PLC released a pre-close trading update for the 51 weeks ended 20 September 2025, highlighting strong performance and market outperformance. Key points include
1. **Sales Performance**
Like-for-like sales growth across food (4.1%) and drink (4.0%) year-to-date, with total sales up 3.9%.
Robust performance in mid-market pubs and pub restaurants, offset by slightly weaker sales in London (within the M25) and premium businesses.
2. **Investments**
Accelerated capital program with 201 conversions and remodels completed (up from 185 in FY2024).
Opened two new sites (Alex in Germany and Browns in London) and purchased two freehold interests.
Ongoing initiatives to reduce energy usage, including solar panels and sensors.
3. **Outlook**
Full-year results expected to align with consensus expectations, driven by strong sales outperformance.
Anticipated cost inflation of ยฃ130m (c.6% of cost base) in the next year, but confidence in continued sector outperformance and cost efficiencies from the Ignite program.
4. **Management Commentary**
Chief Executive Phil Urban expressed satisfaction with broad-based sales growth, supported by cost efficiencies and a successful capital program.
Mitchells & Butlers remains well-positioned with its diverse portfolio of brands, including Harvester, Toby Carvery, and All Bar One, as well as operations in the UK, Germany, and hotels under the Innkeepers Collection.
The provided text does not contain specific financial or debt figures for a year-on-year comparison. However, I can create a basic HTML table structure based on the available like-for-like sales data for the current year (2025) and a placeholder for the previous year (2024) to illustrate how such a comparison might look. You can fill in the actual 2024 data if available. Hereโs the HTML table code: < lang="en">
> ### Notes:
1. **Placeholder Data**: The 2024 data is left blank as it is not provided in the text. You can fill this in with actual figures if available.
2. **Change Column**: The "Change" column is intended to show the difference between 2024 and 2025 figures. You can calculate and fill this in once the 2024 data is available.
3. **Debt Information**: The text does not mention debt figures, so the row for debt is included as a placeholder. If debt data is available, it can be added here. This table provides a structured format for comparing key financial and operational metrics year-on-year.