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Food offering central to Mitchells and Butlers

27 | 11 | 12

A focus on serving food helped Mitchells and Butlers (M&B) to post higher revenues and profits this year.

The UK's biggest operator of managed restaurants and pubs reported full-year revenues of £1.86 billion, up 3.3 per cent on the previous 12 months.

Meanwhile, the firm's pre-tax profits rose by 3.8 per cent to £162 million and like-for-like sales were 2.1 per cent higher, with food sales shown to be the main driver of this growth.

Based in Birmingham, M&B is the owner of chains such as Harvester, Toby Carvery, O'Neills and All Bar One. According to the company, its venues serve approximately 130 million meals and 420 million drinks each year.

Catering supplies are likely to be in demand across the business, as the results showed that food now makes up 50 per cent of all sales in the company's retained estate.

"I am delighted to be leading a company with great people and popular branded pubs, bars and restaurants," said chief executive Alistair Darby.

"M&B is well positioned to take maximum advantage of our evolving industry and we have the right strategy in place."

Non-executive chairman Bob Ivell said he was "extremely pleased" with the results, as the firm has recently been through a period of "cultural and organisational change".

This has involved streamlining internal processes, restructuring the way operations teams are supported and increasing the accountability of senior executives for their brands, he explained.

The company said its brands launched a total of 47 new sites this year, creating 1,500 jobs in the process.

However, the latest financial report also warned that inflationary and regulatory pressures are likely to have an impact on M&B's performance in the new financial year.

These factors include further increases in alcohol duty, food price inflation and tight consumer incomes.ADNFCR-16001031-ID-801495394-ADNFCR


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