Mitchells & Butlers pub group reports strong trading

19th May 2010, 11:22am

The Mitchells & Butlers pub group has reported strong trading for the six months to 10 April.

The group, which owns the All Bar One, O'Neill's pub chains, said like-for-like sales were up 1.8%, meanwhile food and drink sales were up 4.3% and 0.3%.

In addition, pre-tax profits for the six months to 10 April were £73 million, from £47m a year earlier.

Enhancing menu quality has also helped drive sales. A spokesperson for the group explained: "Successful national marketing campaigns such as Toby Carvery's Great British Roast Debate are a key part of this strategy. This activity, supported by purchasing gains, has improved gross margins in the first half by 0.9% points on a percentage basis and importantly 2.8% on a cash basis."

Commenting on the results, Adam Fowle, chief executive, said: "The business continues to trade well and we are pleased with the progress made in the first half with improved sales and margins leading to an increase in operating profits and profit before tax of 12.2% and 55.3% respectively. 

"These results underpin our confidence in our strategy of increasing shareholder value by reshaping Mitchells & Butlers around its key food led brands."

Related Articles:

• 24 Jan 2011 - M&B's John Lovering to step down as chairman
• 23 Nov 2010 - Mitchells & Butlers profits soar by 26% as food sales increase
• 20 Aug 2010 - Mitchells & Butlers to sell over 300 pubs for an estimated £373m
• 10 Aug 2010 - Mitchells & Butlers pub group sells Hollywood Bowl for £39m
• 22 Jul 2010 - World Cup has “negative impact” on food sales at M&B
• 30 Jun 2010 - New finance director at Mitchells & Butlers pub group
• 01 Dec 2009 - Greene King buy seven pubs from Mitchells & Butlers
• 25 Sep 2009 - M&B like-for-like sales up 2.6%
• 26 May 2009 - M&B boss steps down after spiralling losses

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