|Bid||0.00 x 52500|
|Ask||300.00 x 31800|
|Day's range||260.60 - 269.80|
|52-week range||243.20 - 286.80|
|PE ratio (TTM)||17.85|
|Forward dividend & yield||0.07 (2.73%)|
|1y target est||257.92|
The boss of Toby Carvery owner Mitchells & Butlers, on Wednesday said that more in the casual dining industry will fall, as he revealed a drop in profits. Phil Urban warned that a number of restaurant groups have been using more aggressive discounting to pull in customers amid increased competition and weaker consumer confidence. Chains such as Jamie’s Italian and Prezzo have closed sites and Urban forecast other companies would follow suit.
"Margins are being adversely impacted by increased costs, most notably from wage inflation, property costs, energy and food and drink costs," Chief Executive Phil Urban said, adding that cost pressures were "not going away any time soon". The company, which operates brands such as Harvester, Toby Carvery and All Bar One, said like-for-like sales for the 28 weeks ended April 14 climbed 1.6 percent but were flat year on year. Rival pub operator Marston's Plc (MARS.L) on Wednesday also said it was impacted by adverse weather conditions but added that this was offset by strong trading in its brewing and taverns and leased pubs.
** Shares of pub firm -9 pct after H1 profit dips on rising costs ** Stock set for worst day since July 2017, second biggest loser on FTSE midcap index ** Co says H1 pretax profit falls 8 pct to 69 mln ...
British pub operator Marston's Plc said on Tuesday that business in the Christmas period was marred by snowy and icy weather in the UK and would hurt its annual profit by 1 million pounds ($1.4 million). The results from Marston's contrast with those from Mitchells & Butlers Plc (LSE: MAB.L - news) which kicked off the Christmas period trading results from pub operators earlier this month by posting a 3.9 percent rise in comparable sales. "Probably one of the reasons for that (weather impact on sales) is because Marston's has a bigger portion of their estates in the North (of England) and the weather impact was much worse there," Karl Burns, analyst at Investec (LSE: INVP.L - news) , told Reuters.
The company, which operates more than 1,750 restaurants and pubs in the UK under brands such as Harvester, Toby Carvery and All Bar One, said sales over the full seven-week period since Nov. 23 were "encouraging," but the performance was impacted by adverse weather. Mitchells, the first among the listed British pub operator to report Christmas trading, said it sold a record 225,500 meals on Christmas day.
(Adds company news items and futures) Jan 12 (Reuters) - Britain's FTSE 100 index is seen opening up 8 points on Friday, according to financial bookmakers, with futures up 0.13 percent on Tuesday ahead ...
** Numis downgrades Mitchells & Butlers and Greene King to "reduce", citing cost pressures in the sector ** Broker says National Living Wage starting to see wage inflation kick in ** Cites figures ...
Marston's Plc shares rose by nearly 10 percent after the British pub operator said on Thursday that strong sales and tighter cost control helped it post a near 3 percent rise in annual profit. Larger rival Greene King (Frankfurt: A0F66P - news) on Thursday flagged weakness in consumer spending and higher costs as it reported an 8 percent drop in first-half profit, while Mitchells and Butlers last week reported a fall in profit and scrapped its interim dividend. Marston's said its sales growth was led by a strong performance from its food-focused pubs, along with a 30 percent rise in revenue from its brewing business, which includes drinks such as 61 Deep Pale Ale and Lancaster Bomber.
The company, which also brews beers such as Greene King IPA and Old Speckled Hen, blamed bleak weather in August and September and increased competitor discounting for weakness at its pub company unit, which runs brands such as Hungry Horse, Chef & Brewer, Farmhouse Inns and Flaming Grill. The company said like-for-like sales at the business fell 1.4 percent, adding that it expects to dispose of 50 to 60 pubs in the unit.
Shares in pub and restaurant owner Mitchells & Butlers are falling on Thursday morning after the company reported a steep fall in profits and warned of Brexit-related headwinds. Mitchells & Butlers, which owns chains such as All Bar One, Toby Carvery, Harvesters, and Nicholson's pubs, said that pre-tax profit for the year fell 18% to £77 million. "Cost headwinds across the industry have adversely affected margins but we continue to work hard to mitigate as much of these as possible through our focus on efficiency and profitable sales growth," CEO Phil Urban said.
(Reuters) - British pub operator Mitchells & Butlers (MAB.L) said on Thursday its annual comparable store sales improved 1.8 percent, as food and drink sales remained robust, despite inflationary cost ...
The owner and operator of more than 900 pubs in Britain and Ireland said like-for-like sales for the 13 weeks to Oct. 29 rose 6.1 percent compared to growth of 3.5 percent a year earlier. In September, Wetherspoon posted an increase of almost 28 percent in annual pretax profit, saying that a typically wet British summer had boosted sales at the pub chain.
** British pubs, bars and restaurants operator Mitchells & Butlers -2.8 pct after reporting weak drinks sales in the most recent 8-week period ** Co says drinks sales shrank 1.2% in the 8 weeks to Sept. ...
British pubs group Mitchells & Butlers Plc said its drinks sales shrank 1.2 percent in the past eight weeks, blaming poor weather compared to last year, although food sales rose. The group, whose pubs ...
British pubs group Mitchells & Butlers Plc reported a 2.9 percent rise in sales for the 51-week period to Sept. 16 despite poor weather in recent weeks. The group, whose pubs include Harvester, Toby Carvery ...
British pub group Greene King (Frankfurt: A0F66P - news) reported a drop in sales and warned weak consumer confidence and rising costs were set to continue, sending its shares down as much as 15 percent on Friday. The company, which runs more than 2,900 pubs and restaurants, said recent mixed weather and a drop in business at its family pub restaurant brand Fayre & Square had contributed to the decline. "We remain cautious about the trading environment and expect the challenges of weaker consumer confidence, increased costs and increasing competition to persist over the near term," it said in a statement.
** HSBC takes a more negative stance on UK pubs stocks, cutting Greene King to 'reduce' and JD Wetherspoon to 'hold' ** The brokerage points out the sector faces twin risks from consumer weakness and rising ...