Company
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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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
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
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%
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
Total sales have increased by 4.0% in the year-to-date, with just one week of the fiscal year to go.
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Also in the hot seat is Alfa Financial Software after its profit warning last week
Investments and investor services
Investors are expecting a cut of 0.25% in the benchmark short-term rate
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The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
Shareholders in the company formerly known as Enterprise Inns have been offered 285p per share in cash
Berenberg thinks Mitchells & Butlers shares are "too cheap"
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
A look at the day's major movers, including Aura Energy, Hydrogen, AJ Bell, Mitchells & Butlers, Mucklow, Georgia Mining and Enquest
Growing sales hasn’t been too difficult for pubs, but converting that into bottom-line growth has proved trickier – not for M&B though
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United Utilities, Intertek, Mitchells & Butlers, TalkTalk Group, and Tate & Lyle are all in the schedule for Thursday.
£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
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"
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’
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
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
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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
