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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