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Financial performance

Mitchells & Butlers reported its results for the full year 2018 on 22 November 2018. Download the full year results announcement.

Group income statement

For the 52 weeks ended 29 September 2018

  2018
52 weeks
2017
53 weeks
  Before
separately disclosed
items
£m
Separately
disclosed
items
£m
Total
£m
Before
separately disclosed
items
£m
Separately
disclosed
items
£m
Total
£m
Revenue2,152-2,1522,180-2,180
Operating costs before depreciation, amortisation and movements in the valuation of the property portfolio (1,730)(6)(1,736)(1,751)(35)(1,786)
Net profit arising on property disposals -11-11
EBITDA 422(5)417429(34)395
Depreciation, amortisation and movements in the valuation of the property portfolio (119)(43)(162)(115)(72)(187)
Operating profit/(loss) 303(48)255314(106)208
Finance costs (119)-(119)(125)-(125)
Finance revenue 1-11-1
Net pensions finance charge (7)-(7)(7)-(7)
Profit/(loss) before tax 178(48)130183(106)77
Tax (expense)/credit (33)7(26)(37)23(14)
Profit/(loss) for the period 145(41)104146(83)63
Earnings per ordinary share
Basic 34.1p24.5p34.9p15.1p
Diluted 34.0p24.4p34.8p15.0p

Group statement of comprehensive income

For the 52 weeks ended 29 September 2018

  2018
52 weeks
£m
2017
53 weeks
£m
Profit for the period10463
Items that will not be reclassified subsequently to profit or loss:
Unrealised (loss)/gain on revaluation of the property portfolio(5)74
Remeasurement of pension liability58
Tax relating to items not reclassified-(13)
-69
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations-1
Cash flow hedges:
- Gains arising during the period1660
- Reclassification adjustments for items included in profit or loss3453
Tax relating to items that may be reclassified(8)(19)
4295
Other comprehensive income after tax42164
Total comprehensive income for the period146227

Group balance sheet

29 September 2018

  2018
£m
2017
£m
Assets
Goodwill and other intangible assets1110
Property, plant and equipment4,4264,429
Lease premiums11
Interests in associates5-
Deferred tax asset63110
Derivative financial instruments4441
Total non-current assets4,5504,591
Inventories2624
Trade and other receivables5653
Other cash deposits120120
Cash and cash equivalents122147
Derivative financial instruments42
Assets held for sale-1
Total current assets328347
Total assets4,8784,938
Liabilities
Pension liabilities(49)(47)
Trade and other payables(302)(297)
Current tax liabilities(9)(3)
Borrowings(233)(235)
Derivative financial instruments(37)(43)
Total current liabilities(630)(625)
Pension liabilities(200)(245)
Borrowings(1,744)(1,827)
Derivative financial instruments(207)(249)
Deferred tax liabilities(285)(324)
Provisions(43)(42)
Total non-current liabilities(2,479)(2,687)
Total liabilities(3,109)(3,312)
Net assets1,7691,626
Equity
Called up share capital3736
Share premium account2626
Capital redemption reserve33
Revaluation reserve1,1971,202
Own shares held(1)(1)
Hedging reserve(202)(244)
Translation reserve1414
Retained earnings695590
Total equity1,7691,626