Mitchells & Butlers profit dips on rising costs

Cornelia Mascio
Mag 16, 2018

Pub group Mitchells and Butlers has reported a profit drop of 5.4% to £141m compared with the same period a year ago. The company was maintained on Thursday, November 23 by Canaccord Genuity. The stock of Mitchells & Butlers plc (LON:MAB) has "Hold" rating given on Friday, January 12 by Shore Capital. Deutsche Bank has "Hold" rating and GBX 250 target. The firm has "Hold" rating given on Tuesday, November 21 by Deutsche Bank. On Monday, January 8 the stock rating was maintained by Peel Hunt with "Add". Peel Hunt upgraded it to "Buy" rating and GBX 325 target in Friday, January 12 report. Peel Hunt maintained the stock with "Buy" rating in Wednesday, May 16 report. The firm has "Sell" rating given on Friday, November 24 by Citigroup.

The company behind Harvester, Toby Carvery and All Bar One said that it was "adversely impacted" by an estimated £8m due to weather as well as disposals made a year ago (£2m) and closure cost from acceleration of its capital programme (£2m). The rating was maintained by Liberum Capital with "Sell" on Friday, March 23. Peel Hunt has "Buy" rating and GBX 325 target. The stock of Mitchells & Butlers plc (LON:MAB) earned "Underweight" rating by Barclays Capital on Wednesday, November 29.

The stock decreased 5.81% or GBX 16 during the last trading session, reaching GBX 259.2.

Mitchells & Butlers plc managed pubs and restaurants in the United Kingdom and Germany. It has underperformed by 11.55% the S&P500.

Like-for-like sales for the 28 weeks ended April 14 climbed 1.6 percent. The firm operates through Retail Operating Business and Property Business divisions. It has a 17.28 P/E ratio.

Like-for-like sales grew 5.8 percent over Easter weekend, said the group, which operates over 1,800 pubs, bars and restaurants and whose brands include All Bar One, Harvester, Toby Carvery and All Bar One, Nicholson's and O'Neill's.

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