Company overview
Mitchells & Butlers plc is the leading operator of managed pubs and pub restaurants in the UK. It listed on the London Stock Exchange in April 2003 and is a member of the FTSE250.
Mitchells & Butlers has a high quality estate, focused on the long term growth in the informal, value for money, eating out market where its pubs are well placed to capture a disproportionate share.
Mitchells & Butlers is:
A cash generative business:
- Net debt down £135m in FY09
Asset backed:
- £4.5bn asset value*
- 90% of pubs are freehold
Focused on combining the growth in eating out with the profitability of drink sales
- Gaining market share: same outlet food sales up 4.3%, drink sales up 0.3% in H1 FY10
- Food now accounts for 42% of sales*
- Average profits per pub the highest in the industry
Operated by an experienced senior management team
The company continues to perform well in difficult market conditions and is making good progress in implementing the strategic plan as set out in March 2010. Consequently we are confident about Mitchells & Butlers future prospects.
* Independent valuation by Colliers CRE
||Page correct as at: 17 June 2010
