Food offering driving growth at Mitchells and Butlers
Pubs owner Mitchells and Butlers saw profits before tax subside slightly at the half year stage but at least the key metric of like-for-like sales (LFL) was going in the right direction.
Pubs owner Mitchells and Butlers saw profits before tax subside slightly at the half year stage but at least the key metric of like-for-like sales (LFL) was going in the right direction.
Statutory profit before tax in the 28 weeks to April 7th was down £1m at £42m.
LFL sales were up 0.2% year-on-year since the last trading update, which was 11 weeks before the end of the reporting period, despite LFL "wet" sales falling 0.8%; food sales picked up the slack and rose 0.9% in the 11 weeks to April 7th.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
For the full 28-week reporting period, LFL sales were up 2.7%, with food sales up 3.4% and drink sales up 2.2%.
More to follow ...
JH
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Are you one of 15 million people at risk of retirement poverty?
Two-fifths of people in the UK aren’t on track for a minimum lifestyle in retirement, new data shows. Are there steps you can take to boost your pension?
-
150 banking hubs now open across UK – is there one near you?
As the 150th banking hub opens its doors, a Post Office deal that offers basic banking services has also been extended until 2030. We explain what this means for you