Pub group Mitchells and Butlers, which includes brands such as Nicholsons and All Bar One, has reported a strong half-year trading performance.
Mitchells and Butlers chief executive Phil Urban
The 28 weeks to 13th April saw like-for-like sales growth of 7% and an operating profit of £164 million, up 64% from the prior year. Total revenue was £1,396m.
“Continued like-for-like sales outperformance against the market, coupled with easing inflationary costs and focus on efficiencies, has resulted in very strong profit recovery for the period,” said chief executive Phil Urban.
“We remain focused on our Ignite programme of initiatives and our successful capital investment programme, driving further cost efficiencies and increased sales.
“We have confidence that continued focus on effective delivery of our strategic priorities will generate further value from our enviable estate portfolio and customer offers, enabling us to build further momentum throughout the year, with a strong foundation for long-term outperformance.”
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