Pub group Mitchells & Butler announce revenues increase of 2.6%

26th November 2009, 12:54pm

Mitchells & Butler (M&B) will be gearing up for some Christmas cheer after the national pub company announced total revenues up 2.6%.

Like-for-like sales for the year ending 26th September 2009 were also up 1.6%, which the company that owns All Bar One and O'Neill's, says is down to a growth in food sales.

Net debt has reduced by £135 million and Adam Fowle, chief executive of M&B praised the firm's performance during difficult times: "Mitchells & Butlers has produced a robust operational performance in challenging conditions. The Company has sold 129 million meals in the year and grown average food sales per pub by 9%.

"The second half trend in net profit margin recovery continues. The first eight weeks of the new financial year have started well and the strength of the Group's brands, locations, operational skills and cost management mean that we are well positioned for the year ahead."

The financial statement concluded by saying, "Mitchells & Butlers' strong brands, excellent sites and good operational skills leave the business well positioned".

Related Articles:

• 24 Mar 2010 - Mitchells & Butlers to reposition food-led pub businesses

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