Mitchells & Butlers Share Price (MAB)

The bulk of the securitizations end in 2030, from memory.

MAB is currently repaying net debt at a fair clip.

Net debt will hopefully be reduced by another £100 million

over the next 12 months

The security lenders have a stranglehold grip on MAB despite being repaid half of what they lent. Consequently other potential lenders will be second in the queue at best and will charge an arm and leg for the privilege. No wonder there is no divi or sustainable expansion of the business. City bloodsuckers are a disgrace.

Big slowdown in trade last couple of months...

.wealthoracle.co.uk/company-results

Mitchells & Butlers delivered an H1 26 result the market read as defensive rather than progressive, with modest revenue growth and unchanged year-on-year profits set against last November's flag of £130m of cost headwinds for the year, before mitigation. Q1 LFL sales of 4.5% over festive trading marked the high point and momentum has since softened, with current trading guidance reflecting the brunt of National Living Wage, National Insurance threshold and food inflation pressures landing in H1. The Ignite improvement programme and operational gearing are expected to provide partial mitigation but the company has flagged ongoing uncertainty over consumer spending power, supply chain disruption and further government policy shifts as factors clouding the back half. Net debt reduction continues following last year's £146m fall, and the FY25 dividend recovery debate remains open subject to leverage trajectory. Management reiterated the expectation that the eating-out market grows c.2.4% in FY26 with M&B continuing to outperform. The market's verdict was unambiguous, with shares down sharply. Profit broadly flat versus consensus expectations; outlook commentary materially more cautious than November's tone implied. MISS.

.wealthoracle.co.uk/company-results

HL will send you vouchers every January. I am with HL and have received vouchers for many years.