Investors
Mitchells & Butlers plc is a member of the FTSE 250 and runs some of the UK's best-loved restaurant and pub brands including All Bar One, Browns, Ember Inns, Harvester, Miller & Carter, Nicholson's, Sizzling Pubs, Toby Carvery and Vintage Inns.
Find every Mitchells & Butlers announcement, and presentation at our Information Centre.
Market
The total eating and drinking out markets had a combined value of around £90bn in 2019. Mitchells & Butlers operates c.1,650 managed freehold pubs which are predominantly UK based - around 3.5% of the total 47k pubs in the UK.
Strategy
We have a clear operational strategy built around 3 strategic priorities:
- Building a balanced business
- Instilling a commercial culture
- Driving an innovation agenda
Performance
FY 2020 has been dominated by the impact Covid-19 has had on the organisation and the wider industry. Like-for-like sales over the period declined by 3.5% with a strong start to the year superseded by the subsequent impact of a prolonged period of enforced closure and social distancing restrictions in response to Covid-19. Total sales of £1,475m declined by 34.1% reflecting the closure period from 20 March to 4 July.
Adjusted operating profit of £99m declined by 68.8% and a statutory loss before tax of £(123)m was recognised for the period.
Corporate Governance
The Board is responsible for ensuring compliance with the Combined Code and recognises the importance of good corporate governance in creating a sustainable, successful and profitable business. This includes reviewing internal controls, ensuring that there is an appropriate balance of skills and experience represented on the Board and maintaining relations with shareholders.
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