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Mitchells & Butlers lifted by higher food sales

BBC Published May 19, 2010 Reviewed Jul 3, 2026 ✓ Reviewed by citations.press editors

Pre-tax profits for the six months to 10 April were £73m, up from £47m a year earlier.

73000000 GBP · pre-tax profits47000000 GBP · pre-tax profits (year earlier)55.31914893617 % · year-on-year increase in pre-tax profits Mitchells & Butlers

Total like-for-like sales were up 1.8% for the 33 weeks to 15 May.

1.8 % · total like-for-like sales M&B

Food sales were 4.3% higher for the 33 weeks to 15 May.

4.3 % · food sales M&B

Drink sales rose 0.3%.

0.3 % · drink sales M&B

M&B plans to expand Harvester outlets from 170 to 400.

170 · current Harvester outlets400 · target Harvester outlets230 · net increase in Harvester outlets M&B

M&B plans to expand Toby Carvery sites from 133 to 300.

133 · current Toby Carvery sites300 · target Toby Carvery sites167 · net increase in Toby Carvery sites M&B

M&B hopes to target savings of £25m this year.

25000000 GBP · target savings M&B

M&B earmarked £25m towards its expansion plans.

25000000 GBP · expansion funding M&B

The owner of the All Bar One and O'Neill's pub chains, Mitchells & Butlers (M&B), has reported a strong rise in half-year profits.

The company - which also owns Harvester restaurants - said pre-tax profits for the six months to 10 April were £73m, up from £47m a year earlier.

Profits were boosted by increased food sales and higher profit margins.

Sales data for the 33 weeks to 15 May showed total like-for-like sales up 1.8%, with food sales 4.3% higher.

"The business continues to trade well, and we are pleased with the progress made in the first half," said chief executive Adam Fowle.

M&B's big rise in food sales helped to offset sluggish demand for drinks, which only rose 0.3%.

Despite the rise in profits, the company said trading conditions remained "difficult".

M&B has also confirmed plans to increase the number of its Harvester outlets, aiming to expand them from the current 170 to 400 by moving into smaller town centre locations.

It also plans to expand the number of its Toby Carvery sites from 133 to 300.

The company also hopes to target savings of £25m this year, and earmarked £25m towards its expansion plans.

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