Mitchells & Butlers has announced its full-year results for the 52 weeks ending 27 September 2025, with the group outperforming the market across all trading segments and “continuing to build momentum into the new financial year.”
The operator, which runs over 1,700 pubs, bars and restaurants across the UK under brands including All Bar One, Miller & Carter and Toby Carvery, posted like-for-like sales growth of 4.3%. Adjusted operating profit rose to £330 million, a 5.8% increase on the previous year, while adjusted operating margin also improved, reaching 12.2%.
Total revenue for the year came in at £2.71 billion, up from £2.61 billion in 2024, and reported profit before tax increased to £238 million from £199 million in the prior year. Net debt (excluding leases) fell by £146 million, landing at £843 million.
Chief Executive Phil Urban said the results reflected a consistent and resilient performance across all areas of the business.
“We are pleased to report another year of strong performance. Like-for-like sales continued to outperform the market across all segments, reinforcing the strength of our strategy and market positioning,” said Urban.
“Combined with disciplined operational execution, this delivered robust profit growth mitigating sector-wide cost headwinds.”
The company’s capital programme was accelerated over the year, with Urban highlighting its success in driving returns. Strong guest feedback and improvements in employee and safety metrics were also flagged as operational highlights.
Looking ahead, Urban acknowledged that the sector faces ongoing cost pressures but expressed confidence in the group’s ability to manage these through its Ignite improvement programme and continued investment in its estate.
Urban said, “Our market-leading estate and diversified guest propositions provide a strong foundation for resilience and growth, enabling us to capture incremental market share and deliver continued long-term outperformance.”
The new financial year has begun positively, with like-for-like sales up 3.8% in the first eight weeks of FY2026.
Picture: Phil Urban Credit: Mitchells & Butlers