Revenues and profits rise at Brum pubco
Revenue and profits at Birmingham-based pubco Mitchells & Butlers are both up as the firm announces its full-year results.
For the 52 weeks to 29 September, the company saw profits rise from £130m in 2018 to £177m this year on the back of revenues of £2.24bn.
Phil Urban, chief executive, said: “These strong results reflect the work we have done over the last few years, first to build sustained sales growth and then to convert that into profit growth.
“It has been extremely encouraging to see an improvement in like-for-like sales growth across the portfolio during the year, fuelled by our Ignite programme of work. This puts us in a stronger position as we move forward into the next financial year, in what we expect to remain challenging market conditions.”