Company
Mitchells & Butlers PLC
LON:MAB
Mitchells & Butlers PLC is an operator of managed pubs and pub restaurants. As of September 27, 2008, it had an estate of 1,993 sites located in the United Kingdom and 42 pub restaurants in Germany. The Company has two retail operating segments: Pubs & Bars, which focuses primarily on drink and entertainment-led sites, and Restaurants, which focuses on food and accommodation-led sites. It is also engaged in property development, which is undertaken by Standard Commercial Property Developments Limited. Its brands and formats include Sizzling Pub Co., Ember Inns, Cornerstone, Metro Professionals, Scream, Vintage Inns, Harvester, Toby Carvery, Crown Carveries, Premium Country Dining Group, Town pubs, O’Neill’s, Nicholson’s and Classic Pubs, All Bar One, Music bars and Browns. Its subsidiaries include Mitchells & Butlers Retail Ltd, Mitchells & Butlers Retail (No 2) Ltd, Mitchells & Butlers (Property) Ltd, Mitchells & Butlers Leisure Retail Ltd and Mitchells & Butlers Finance plc.
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Toby Carvery owner receives upgrade but pub recovery end looms
Mitchells & Butlers saw a share price target upgrade from Deutsche Bank
Mitchells & Butlers sales bounce back but inflation a concern
Sales this year so far are up by 9.2%
Fall in Christmas bookings for pubs, World Cup to hand boost
Data from the CGA Strategy reminded readers that major sporting events have a influence on drinks consumption and consumer in pubs
Mitchells & Butlers expects energy costs to nearly double
The group said recent moves to support business through the energy crisis were welcome but forecast that total energy and utility costs would still rise to around £150mln from £80mln this year with further increases seen in 2023
Pubs and restaurants set for mass closures unless government steps in, sector warns
Conditions for trading are so tough that many outlets are shutting early
Mitchells & Butlers says cost pressures to hit margins as sales fall
"Inflationary cost pressures continue to present a major challenge," the All Bar One owner told investors
Toby Carvery gets roasted for Sunday lunches without lamb
“We experienced difficulties within our own lamb supply chain" said the Mitchells & Butler-owned chain
Mitchells & Butlers confident business will pick up quickly when Omicron fears subside
The Harvester and Toby inns group expects social activity to continue to be adversely affected in the short term (apart from in Downing Street, obviously)
Mitchells & Butlers back in profit after lockdown ends but now Brexit and rising costs threaten its recovery
Things are improving at last for the heavily indebted pubs group but just as things are looking brighter, so new threats such as staff shortages and rising costs assail the pubs group
Mitchells & Butlers cheered by lifting of lockdown but rising costs loom after Brexit
"Brexit remains an important event for the market and has created risks for the sector, principally around the supply and cost of products and workforce shortages."
Mitchells & Butlers sales recover but food faring better than drink
"Trading continues to be stronger in suburban and food-led brands"
Rules eased for two Covid-19 jabs as businesses reserve judgement on 19 July reopening
Health Secretary Sajid Javid said rules will change for people who are fully vaccinated
Government hints at relaxing self-isolation rules as vaccinations progress
Around 80% of adults in the UK have received at least one vaccination with 47% having had both jobs.
England vs Scotland: Pub groups desperate for win in pandemic recovery
England vs Scotland: Pub groups desperate for a win in pandemic recovery.
Mitchells & Butlers predicts strong rebound when pubs reopen fully
The Harvester and All Bar One owner said nearly all of its outlets had now reopened
Pubs and restaurants set for massive weekend if bookings are accurate
Spending in London could top £300mln according to one estimate
Restaurants, pubs reassured by government dropping Covid passport plans in April and May
Industry representatives are concerned about the practical consequences of admitting customers only if they have tested negative, received the jab or have contracted the virus in the previous six months
Pub vaccine passport plan 'unworkable' says industry
"It is simply unworkable, would cause conflict between staff and customers"
Mixed news in bleak day for hospitality sector as Mitchells & Butlers delays pension payment, German Doner Kebab to create 1,800 jobs
Later today, Boris Johnson is expected to announce that venues will remain shuttered until the end of April
Mitchells & Butlers joins calls for pubs to re-open as it launches open offer
Phil Urban, chief executive said that the hospitality industry has done everything that has been asked of it to date
Mitchells & Butlers to raise £350mln from shareholders
The total cash injection is £500mln including a new £150mln loan facility
Mitchells & Butlers reports sharp slowdown in sales as lockdown hits festive trading
For the 14 weeks to January 2, the publican said total sales were down just over 67% as progressively tighter restrictions imposed in the UK and Germany resulted in an “ever smaller number of sites open”
Lockdown pubs in focus as Mitchells & Butlers updates on Thursday
The pub company is among only a few likely highlights for Thursday, January 7.
Pub groups hope Easter will be the new Christmas as COVID-19 restrictions tighten
In Tier-3, pubs must close with the exception of takeaway drinks
Mitchells & Butlers posts loss, axes 1,300 staff but says it will recover
Mitchells said it had received £30mln from Eat Out to Help Out
Mitchells & Butlers mulls over job cuts as UK enters three-tier lockdown system
According to Liberum, Marston's and Wetherspoons have the largest exposure to the North of England and Scotland, while Restaurant Group and Loungers look to be least affected
Mitchells slides as social distancing dents capacity and sales
In a trading update for the 51 weeks to September 19, the publican reported LFL sales had fallen 3.1%, while total sales in the year to date dropped 35.4% due to the lockdown period
Coronavirus: Pubs and restaurants stocks rebound with new restrictions better than feared
Prime Minister Boris Johnson is expected to announce a 10pm curfew on venues from Thursday onwards
Coronavirus: Hospitality sector under pressure as UK mulls over potential clampdown on socialising
Prime Minister Boris Johnson is to announce further restrictions on Tuesday
Coronavirus: Mitchells & Butlers, Fulham Shore among venues extending Eat Out to Help Out scheme
As the scheme comes to an end, several companies have chosen to offer discount throughout September
Mitchells & Butlers pushed into losses by coronavirus property hit
Mitchells said it expects to have the majority operating again by the end of month.
Mitchells & Butlers tops up borrowing headroom in case pub recovery goes bad
Under its new arrangements, the pub company has agreed not to pay a dividend or undertake any share buy-backs until at least late next year
Mitchells & Butlers secures financing waiver extension to next month
The publican, was given a waiver until 15 May by its lenders to avoid a potential breach of its secured financing terms from its pubs all being shut
Pubs 'in precarious position' but JPMorgan upgrades Mitchells & Butlers
Although liquidity is tight, the analysts believe UK pubs “can endure a mid-duration shutdown that has some visibility on conclusion/path to recovery”
Pub companies secure extra leeway from lenders to survive coronavirus lockdown
Mitchells & Butlers and Revolution Bars are part of an industry that has been forced to shut down completely by the government
Pub companies in survival talks with lenders despite government suppport
All three welcomed the Chancellor of the Exchequer's new proposals for business rates relief for 12 months and access to a credit guarantee facility but will still face minimal cashflow for many weeks
Berenberg returns Mitchells & Butlers to ‘buy’ from ‘hold’ on valuation grounds after recent falls
The German bank's analysts said the re-upgrade follows around a15% pull-back in the shares, which on Friday were trading at 413p each
Mitchells & Butlers pub grub boosts Xmas sales
Over the core three-week festive period, LFL pub sales growth hit 5.6%, with the five key festive days showing growth of 6.5%
Mitchells & Butlers froths up to 4yr high as stays ahead of peers
In the 12 months to 28 September, LFL sales grew by 3.5% to £2bn, with average spend per item up 3.4% on food and 4.5% on drink
Mitchells & Butlers continues to outperform the market as Brits are driven to drink
Total sales have increased by 4.0% in the year-to-date, with just one week of the fiscal year to go.
Archive
Will Mitchells & Butlers and BoJo be crying into their beer?
Also in the hot seat is Alfa Financial Software after its profit warning last week
Investments and investor services
FTSE 100 closes in the red as traders await first US rate cut since recession
Investors are expecting a cut of 0.25% in the benchmark short-term rate
Archive
Lloyds to post weaker profits as PPI claims deadline looms
The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
Ei Group raises glass to £3bn takeover deal from Slug & Lettuce owner
Shareholders in the company formerly known as Enterprise Inns have been offered 285p per share in cash
Mitchells & Butlers shares gain as Berenberg upgrades rating to 'buy'
Berenberg thinks Mitchells & Butlers shares are "too cheap"
Liberum doesn’t expect Mitchells & Butlers’ half-year profit surge to be a one-off
M&B posted a 5% rise in revenue and 8% jump in sales in Thursday’s half-year results, and Liberum believes recent sales and cost-saving initiatives mean the outperformance can be repeated
Investments and investor services
Stilo putting on the agony after a profit warning
A look at the day's major movers, including Aura Energy, Hydrogen, AJ Bell, Mitchells & Butlers, Mucklow, Georgia Mining and Enquest
Mitchells & Butlers the toast of the City as first-half sales and profits soar
Growing sales hasn’t been too difficult for pubs, but converting that into bottom-line growth has proved trickier – not for M&B though
Archive
United Utilities and Intertek Group to be in focus on a busy Thursday
United Utilities, Intertek, Mitchells & Butlers, TalkTalk Group, and Tate & Lyle are all in the schedule for Thursday.
Is Loungers biting off more than it can chew with £300mln London IPO?
£300mln seems like a lot of money for a company that most people haven’t heard of, but Loungers is reportedly confident it can achieve that number, and some of its peers suggest it can too
Stifel thinks pub and restaurant equity performance will be driven by companies’ ability to “flex balance sheets”
The US investment bank's analysts said: “We are social animals and eating and drinking out of the home has proved resilient to whatever the economic and political backdrop presents"
JP Morgan believes UK pubs sector may be a relatively ‘safe haven’ in an adverse Brexit scenario
The US bank has upped its recommendation for Mitchells & Butlers to ‘overweight’ from ‘neutral’ and raised its stance on Greene King to ‘neutral’ from ‘underweight’
Mitchells & Butlers grateful for mild December as it reports record Christmas trading
The weather, both hot and cold, caused havoc for pubs last year, but a mild December meant there was little reason for people not to enjoy a festive drink or five
Slug and Lettuce owner Stonegate Pub Company posts strong sales growth over key Christmas period
The private equity-owned firm, which has a portfolio of more than 700 pubs, bars and late night venues, saw its sales rise 12% higher year-on-year in the two weeks to 1 January 2019
Archive
Fuller's to be toast of the city on Black Friday
Fullers aside, it looks set to be another quiet Friday in London, with most of the City out bagging some deals in the Black Friday sales