Mitchells & Butlers (M&B) has revealed a slump in food sales in recent months after hot summer weather dented demand for steak dinners and carvery lunches.
The pub and bar giant saw shares slide on Thursday as a result.
The hospitality operator said sales were flat across its venues in the quarter to July 18, compared with a year earlier.
M&B said this came after “exceptional” heat knocked its food-led brands, particularly affecting Toby Carvery and Miller & Carter steakhouse venues.
The group also runs All Bar One (Alamy/PA)Food sales across the group, which also runs Harvester and Sizzling Pubs, fell by 2.4% over the period.
Bosses also said trading was knocked by the early timing of Easter compared with last year.
Meanwhile, pubs and drink-led venues had a stronger few months, supported by strong trading during key days during the World Cup.
The group, which also runs All Bar One, reported that drink sales were therefore 2.6% higher for the quarter.
The flat quarterly performance reflected a slowdown in trading, following a 3.3% increase over the first half of the financial year, which had been buoyed by stronger food sales.
Like-for-like sales are currently up 2.2% for the 42 weeks of the year to-date, M&B said.
The group also told shareholders that cost inflation guidance is unchanged at around £120 million for the year.
It added that it has accelerated its investment programme, completing 181 site conversions and remodels.
M&B has also acquired 10 new sites, including eight freehold sites in the UK.
Chief executive Phil Urban said: “Our business has performed with resilience during a quarter characterised by unusual weather patterns.
Read More
“The strength of our diversified portfolio has moderated the impact of external factors and together with the continued success of our investment programme and Ignite initiatives we remain confident in delivering our full-year expectations.”