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Mitchells & Butlers PLC running out of elbow room in the restaurant sector
Wednesday preview: Competition is hotting up in the pub grub sector for Mitchells & Butlers, while London house prices and lettings fees are cooling for Foxtons.
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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Barclays turns cautious on pubs operator Mitchells & Butlers amid worries about deteriorating cash flows
Analysts at the bank have cut their rating for M&B shares to ‘underweight’ from ‘equal-weight’ with an unchanged target price of 220p.
FTSE 100 shares mark 14th successive record close
FTSE 100 shares continued their solid rally and even if it was Friday the 13th it was the 14th successive record high close for the blue-chip ticker, built this time by the construction sector
Mitchells & Butlers up as pubs chains owner toasts “particularly strong” festive trading
The FTSE 250-listed group said like-for-like sales over the four weeks to January 7, covering the festive period, were up 4.7% year-on-year.
Archive
Day ahead: Pubs group Mitchells & Butlers to provide festive drinking glimpse
Consumer confidence and retail sales surveys recently have shown that eating and drinking out has continued to be a growing segment despite a high street slowdown.
All gone flat at Mitchells & Butlers for Numis
'Reduce' is the view with a 255p target price. Shares eased 5% to 259p.
Mitchells & Butlers returns to like-for-like sales growth
The Harvester restaurants owner is "driving an innovation agenda" and has come up with the idea of ... a rotisserie chicken chain!
FTSE 100 marks 5-week high on Fed-fuelled rally
London stocks ended at a five-week high on Thursday as investors took comfort from the Federal Reserve’s decision to hold off a US rate hike the previous day
Will Mitchells & Butlers whet investors' appetites?
Pub and bar owner to update the market ahead of full-year results
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A look at some of the firms reporting in the week commencing September 19
Mitchells & Butlers plans overhaul as profits rise
Pub restaurant and bar group said pre-tax profits rose to £83mln from £75mln a year ago
PREVIEW: Royal Mail tipped to deliver the goods
Royal Mail expected to report revenues of £9.2bn and pre-tax profits of £410mln
Week ahead - Is Merlin on the right track?
Other updates come from paving specialist Marshalls, SSE Group, Thomas Cook Group PLC and Mothercare
Investors give cool reaction to oil supply freeze
Oil majors still rise and Weir Group gets boost from vague bid chatter
Talk of oil supply limits sends London shares higher
The FTSE 100 Index climbed on reports of oil talks while M&A talk in oil and pubs also provided interest
Mitchells & Butlers sees Christmas cheer tail off
Pub restaurant group said like-for-like sales in the 17 weeks to January 23 fell 1%