Mitchells & Butlers, whose brands include All Bar One, Miller & Carter and O’Neils, has reported full-year revenue of £2.6bn, with like-for-like sales growth of 5.3% in its annual results to September 2024. Operating profits were up 41.2% to £312m.
Both food and drink sales both performed well, with like-for-like food sales increasing on-year by 5.3% to £1.24 billion and with like-for-like drinks sales up 4.9% to £1.03 billion.
Although the company said that they are seeing a strong start to financial year 2025 with like-for-like sales of 4.0%, it said that there will be increased inflationary cost headwinds this year, including the impact of the increase in both the national minimum wage and employer national insurance contributions.
Phil Urban, Chief Executive, said, “We are delighted by the very strong performance during the year. Like-for-like sales continued to outperform the market which, coupled with easing inflationary costs and focus on efficiencies, has resulted in very strong profit recovery.
“We face increased inflationary cost headwinds in the year ahead. However, we shall remain focused on our established Ignite programme of initiatives and our successful capital investment programme, to drive further cost efficiencies and increased sales.
“Coupled with our market-leading estate and customer offers, we are confident that this will enable us to further grow market share and secure continued long-term outperformance.”
