Mitchells and Butlers posts positive half-year results

22 May 2014 by
Mitchells and Butlers posts positive half-year results

Restaurant and bar company Mitchells & Butlers has posted positive half-year results for the 28 weeks ended 12 April 2014.

Revenue was at £1,016m, up 2.5%, while operating profit was at £147m, up 2.1%.

The company also highlighted that staff turnover was at a historical low of 78% and that like-for-like food growth was up 2%, and drink volume growth had stabilised from a 6% decrease last year to just 3% decrease this year.

Capital expenditure had increased over the same period, including 11 new site openings and four site conversions.

Chief executive Alistair Darby said the group was pleased with its performance and that the results showed the company was in a good position to sustain long-term growth.

He said: "Our business transformation is gaining momentum. Through our clearly laid-out strategy, we are well-placed to take advantage of the economic recovery across the UK."

Caterer and Hotelkeeper 100: Kevin Todd, Mitchells & Butlers >>

Mitchells and Butlers sales down 1% in Q4 >>

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