Tuesday 22 November 2011

M & B announces profits up

Pub Company Mitchells & Butlers have today announced an increase in profits:

  • Total sales up 4.9% including food sales up 7.8%
  • Operating profit up 1.1% and operating margin at 16.3%
  • EBITDA returns of 21% achieved on expansionary capex invested over the last two years
  • Net debt reduced by over £400m; net debt:EBITDA now at 4.7 times
  • Like-for-like sales in FY 2011 of +2.6% with food like-for-like sales of +4.8%
  • Like-for-like sales growth of 2.0% in first 8 weeks of FY 2

M & B run a diverse collection of pubs, mainly left over from the former Bass Empire:

They don't tend to brand themselves as M & B but as one of their 'flavours' above. 

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