Mitchells & Butlers (MAB)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

295.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 312.50
  • 52 Week Low: 199.30
  • Currency: UK Pounds
  • Shares Issued: 597.74m
  • Volume: 179,580
  • Market Cap: £1,763.34m
  • RiskGrade: 371

Mitchells & Butlers sees FY results at top end of expectations

By Michele Maatouk

Date: Wednesday 22 May 2024

LONDON (ShareCast) - (Sharecast News) - Pub group Mitchells & Butlers said on Wednesday that its full-year results were set to be at the top end of consensus expectations as it reported a rise in first-half profit.
In the 28 weeks to 13 April, operating profit jumped 64% from the same period a year ago to £164m, while pre-tax profit rose to £108m from £40m.

Total sales came in at £1.4bn, up 8.9%, with like-for-like sales up 7.0% and "strong" performances across all brands driven by increases in spend per head.

The company said overall cost inflation started to abate last year, and this has continued through the first half. While the recent level of statutory National Living Wage increases has been relatively high at about 10% in both the last two years, other costs have returned to more normalised levels and energy in particular has been in deflation so far this year, it noted.

Chief executive Phil Urban said: "Continued like-for-like sales outperformance against the market coupled with easing inflationary costs and focus on efficiencies has resulted in very strong profit recovery for the period."

The pub chain said it remains mindful of uncertainty and pressures on the consumer.

"However, as trading continues to be strong, we have confidence that the current year outturn will be at the top end of consensus expectations, with momentum for further progress going forward into FY 2025."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MAB Market Data

Currency UK Pounds
Share Price 295.00p
Change Today -5.00p
% Change -1.67 %
52 Week High 312.50
52 Week Low 199.30
Volume 179,580
Shares Issued 597.74m
Market Cap £1,763.34m
RiskGrade 371

MAB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.08% above the market average84.08% above the market average84.08% above the market average84.08% above the market average84.08% above the market average
76.92% above the sector average76.92% above the sector average76.92% above the sector average76.92% above the sector average76.92% above the sector average
Price Trend
88.62% above the market average88.62% above the market average88.62% above the market average88.62% above the market average88.62% above the market average
92.86% above the sector average92.86% above the sector average92.86% above the sector average92.86% above the sector average92.86% above the sector average
Income Not Available
Growth
7.86% below the market average7.86% below the market average7.86% below the market average7.86% below the market average7.86% below the market average
62.26% below the sector average62.26% below the sector average62.26% below the sector average62.26% below the sector average62.26% below the sector average

What The Brokers Say

Strong Buy 5
Buy 4
Neutral 2
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MAB Dividends

  Latest Previous
  Final Interim
Ex-Div 14-Dec-17 25-May-17
Paid 06-Feb-18 03-Jul-17
Amount 5.00p 2.50p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 67,950 @ 295.00p
16:35 283 @ 295.00p
16:35 37 @ 295.00p
16:35 283 @ 295.00p
16:35 1 @ 295.00p

MAB Key Personnel

CFO Timothy (Tim) Charles Jones
CEO Phil Urban

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