M&B reports improving like-for-like trend, albeit still negative: Mitchells & Butlers has reported trading over the festive period was ‘encouraging’, with like-for-like sales growth of 2.0% in the two weeks of Christmas and New Year. In the eight weeks to 21 November, like-for-likes declined by 1.6%, with like-for-likes down 0.6% in the nine weeks that followed to 0.6%. Over the financial year to date, total sales have fallen by 0.8% but operating margins are ahead of the prior year. The company acquired two new sites and converted 12 in the financial year to date, including a further ten Orchid conversions. It accelerated its remodel programme to revitalise and reposition the estate, with 76 completed so far this year. Chief executive Phil Urban said: “We had a good Christmas, recording growth across the period and also delivering our best ever trading day. Whilst trading conditions remain tough, particularly as we go into the post-holiday season, we are acting with pace to drive our business priorities - building a more balanced business, developing our commercial culture and increasing the speed of execution and innovation.” On the appointment of welcoming Chris Hopkins as M&B’s new commercial director, Phil Urban said yesterday: “Chris brings extensive experience and strategic know-how to M&B. His appointment is part of our journey to build a more balanced business, instil a more commercial culture and increase the pace of execution and innovation across the company.”

Fuller’s reports like-for-likes up 5.3% in managed division: Fuller’s has reported a strong performance in its managed pubs and hotels in the 43 weeks to 23 January, with like-for like sales over the period up by 5.3%, while like-for-like profits in the Tenanted Inns division rose by 3%. Total beer and cider volumes in the Fuller’s Beer Company decreased by 1%. Simon Emeny, chief executive, said: “I am pleased to be reporting further strong trading. A good performance throughout the year has been boosted by another successful Christmas. Our long term strategy of providing freshly-cooked food, engaging service and an excellent portfolio of premium brands, supported by investment in our pubs to create stylish environments for our customers, continues to deliver consistently good results. I believe we are in a good position as we progress through the last quarter and I look forward to updating the market on 10 June 2016, when we announce the company’s preliminary results for the 52 weeks to 26 March 2016.”

SSP reports good start to new financial year: Transport hub foodservice specialist SSP has reported a good start to the new financial year and expectations for the full year remain positive and unchanged. Total revenue increased by 6.2% on a constant currency basis, comprising like-for-like sales growth of 4.3% and net contract gains of 1.9%, in line with our expectations. Total revenue growth at actual exchange rates was 1.9%. Like-for-like sales grew strongly in the UK and Continental Europe in the early part of the new financial year. This has moderated slightly in recent weeks reflecting the impact of geopolitical activity. In North America the positive trends in like-for-like sales growth in 2015 have continued throughout the first quarter of 2016. In the Rest of the World, like-for-like sales growth is in line with expectations, although trading in Egypt remains challenging due to the fall in passenger numbers. The pipeline of new contracts remains encouraging. Trading results from outside the UK are converted into sterling at the average exchange rates for the year. The overall impact on revenue of the movement of foreign currencies (principally the Euro, US Dollar, Swedish and Norwegian Krone) in the first quarter compared to the same period in 2014 was -4.3%. If the current spot rates were to continue throughout the remainder of FY 2016, we would expect a positive currency impact on full year revenue of 0.4%. This is however a translation impact only. The company stated: “The new financial year has started in line with our expectations and the pipeline of new contracts is encouraging, although it is difficult to predict the precise timing of the openings of new units. Whilst a degree of uncertainty always exists around geopolitical events and passenger numbers in the short term, the geographical and sectoral diversity of our business, together with the significant structural growth opportunities and our programme to deliver operational improvements, leave us well placed to continue to deliver for both our customers and our shareholders.”