Pub operator Mitchells & Butlers has reported a loss of £123m in the year to 26th September, with total revenue down by 34.1%.
The company said it had taken decisive and effective action to protect guests and team members, and to reduce costs. It feels it is well positioned to benefit from future easing in operating restrictions.
Chief executive, Phil Urban, said: “Throughout a very uncertain and challenging year, our businesses and teams have adapted quickly, creating a safe environment for guests and putting us in a strong position to benefit when consumers are able to eat out again. We saw direct evidence of this from a strong trading period in July and August, before further restrictions came into force.
“With our great estate, balanced portfolio of brands, and proven management team, we remain optimistic that we will be able to regain the momentum previously built and continue to achieve sustained market outperformance, when the current operating restrictions are eased.”