Sales are on the rise in those pubs and restaurants within Mitchells & Butlers' (MAB) estate that have been remodelled or converted over the past 18 months or so. Turnover at these so-called 'invested' sites rose 10 per cent in the first half, but that stands in contrast to the performance of those sites that haven't benefited from an upgrade. As a consequence, overall like-for-like sales contracted by 1.6 per cent.
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Chief executive Phil Urban - who has been at the helm for nearly 18 months - believes investment in the "guest-facing" components is the best way to improve group fortunes as this can help tap into the premium end of the market and compete more effectively with the growing number of food and drink venues across the UK.