Mitchells & Butlers Plc, a major UK pub and restaurant operator, saw its shares decline by over 5% after reporting a slowdown in like-for-like sales growth to 1.1% in the most recent three weeks. This decline follows a first-quarter growth of 4.5% and a second-quarter drop to 1.8%. The company, which owns popular brands such as Harvester and Toby Carvery, reported an adjusted operating profit of £181 million for the 28 weeks ending April 11, unchanged from the previous year, and slightly below analyst expectations. Total revenue rose to £1.49 billion, just shy of estimates. The company attributed the recent sales slowdown to unfavorable weather conditions, tube strikes, and broader economic uncertainties. Despite the challenges, Morgan Stanley remains optimistic about the company's outlook, projecting a 3.5% growth in like-for-like sales for the financial year 2026. Additionally, the company anticipates cost headwinds of approximately £120 million for the current financial year, primarily affecting the first half. Mitchells & Butlers operates 1,712 sites in the UK and Germany.