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Scottish catering and hospitality news in Scotland
Catering in Scotland magazine is published bi-monthly with in-depth features, views and news for the Scottish catering, hospitality and tourism industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.
Thursday, January 29, 2009
Operators Report Growth in First Quarter
Pub operator Greene King has announced that its managed pub division had seen like-for-like sales up 2.4% in the eight weeks to January 25, with strong Christmas bookings through its 800-outlet chain. Meanwhile, Mitchells & Butlers announced like-for-like sales in the nine weeks to 24 January up 1%.'This week's upbeat trading results from both operators are a much needed boost for the beleaguered pub sector, and demonstrates the discipline companies need in order to remain profitable through the downturn,' says market analyst, Peter Backman.
'Neither of these companies has been afraid of discounting, giving customers a reason to keep coming. While other sizeable pub operators have struggled, both Greene King and Mitchells & Butlers are utilising the benefits of their scale to buy better and reinvest this extra margin in further promotion, which in turn boosts turnover further.
'M&B is retaining a healthier level of capital expenditure than other pub operators. That will place the company well ahead of the competition when the upturn comes.'
Horizons most recent analysis of the foodservice market shows that after a promising start to 2008 when food sales in pubs actually grew, the second half was disastrous and as a result total food sales for the full year fell by -3% after inflation. Managed pub operators, like M&B, did better than this while food sales in pubcos were worse.
