Mitchells & Butlers reports "robust" interim trading as revenue rises

(Alliance News) - Mitchells & Butlers PLC on Thursday expressed optimism around growing market share as it reported improved revenue and profit in its first half.

The Birmingham, England-based restaurant and pub operator reported GBP143 million in pretax profit for the 28 weeks to April 11, up 6.7% from GBP134 million a year prior.

Revenue rose 2.5% to GBP1.49 billion from GBP1.45 billion, with Mitchells & Butlers reporting a 3.3% uplift in like-for-like sales amid strong performances across the brand portfolio,

The company said it continued to outperform the market in the interim period, and expressed confidence in this continuing during the second half.

Mitchells & Butlers expects costs headwinds of around GBP120 million for the current financial yea, down from the anticipated GBP130 million guided at its first-quarter update in January.

For financial 2027, it sees cost headwinds normalising to a lower level of around GBP95 million.

Shares in the company were down 8.1% at 230.50 pence on Thursday morning in London.

"We have delivered another robust performance over the first half reflecting continued focus on enhancing guest appeal across our diverse portfolio of brands, driving sales growth through compelling customer offers and disciplined execution. Maintaining profits despite the significant inflationary cost challenges facing the sector is testament to the dedication of our teams in delivering the benefits of our Ignite and capital programmes," said Chief Executive Phil Urban.

"Despite the backdrop of macro uncertainty our priorities remain unchanged, our guest scores are at record highs, we remain committed to the delivery of quality experiences, and we are well placed to further grow market share."

By Christopher Ward, Alliance News reporter

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