Jefferies analyst James Wheatcroft said: “Short-term uncertainty related to now tightening Government restrictions will likely undermine confidence in the timing of a return to normality.”
Shares in M&B lost 2p to 134p.
The company, which is also behind the O’Neill’s chain, has been trying to recover from the Covid-19 lockdown, which saw hospitality venues close in March and reopen from July with social distancing measures in place.
In the 51 weeks to September 19 sales dropped 35.4%. Comparable sales in July slumped 32.4% in July and rose 1.4% in August boosted by the Government’s dining discount scheme.
Trading in the first three weeks of September has settled back, with a like-for-like sales decline of 6.4%.
The firm has some 1,700 restaurants and pubs, and over 95% of the estate has now reopened from lockdown.
Urban said M&B is well placed to meet challenges ahead.
