FX.co ★ Mitchells & Butlers H1 Profit Rises; LFL Sales Up 7.0%

Mitchells & Butlers (MAB.L, MLB) announced a significant improvement in their statutory profit before tax for the half year, which surged to £108 million from £40 million in the previous year. Earnings per share rose to 13.5 pence from 5.4 pence. The company's adjusted operating profit saw a remarkable increase, reaching £164 million, up by 64.0%. Similarly, adjusted earnings per share rose to 13.5 pence from 5.5 pence.

For the 28 weeks ending April 13, 2024, the company's sales amounted to £1.40 billion, compared to £1.28 billion in the same period last year. Like-for-like sales for the first half grew by 7.0%.

Looking ahead, the Group anticipates that the current year’s performance will meet the higher end of consensus expectations, with ongoing momentum expected to drive further progress in fiscal year 2025.