M&B serves up decent profits in face of cost headwinds

BIRMINGHAM bar group Mitchells & Butlers has posted half-year profits that have outpaced market expectations, despite facing significant cost pressures.

- 

The firm, which owns well-known chains such as Harvester, All Bar One and O’Neill’s, said its revenue for the 28 weeks ending April 12 reached £1.45 billion, marking a four per cent increase year on year.

Operating profit saw a ten per cent rise to £181 million while pre-tax profit surged by 24 per cent to reach £134 million.

Phil Urban, chief executive of the Jewellery Quarter-based business, attributed the listed company's strong performance to cost efficiencies and a commitment to “maximising the guest appeal” across its diverse brand portfolio.