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Financial performance

Mitchells & Butlers reported its results for the full year 2017 on 23 November 2017. Download the full year results announcement.

Group income statement

For the 53 weeks ended 30 September 2017

  2017
53 weeks
2016
52 weeks
  Before
separately disclosed
items
£m
Separately
disclosed
itemsa
£m
Total
£m
Before
separately disclosed
items
£m
Separately
disclosed
itemsa
£m
Total
£m
Revenue2,180-2,1802,086-2,086
Operating costs before depreciation, amortisation and movements in the valuation of the property portfolio (1,751)(35)(1,786)(1,655)-(1,655)
Net profit arising on property disposals -11-11
EBITDA 429(34)3954311432
Depreciation, amortisation and movements in the valuation of the property portfolio (115)(72)(187)(113)(88)(201)
Operating profit/(loss) 314(106)208318(87)231
Finance costs (125)-(125)(126)-(126)
Finance revenue 1-11-1
Net pensions finance charge (7)-(7)(12)-(12)
Profit/(loss) before tax 183(106)77181(87)94
Tax (expense)/credit (37)23(14)(37)32(5)
Profit/(loss) for the period 146(83)63144(55)89
Earnings per ordinary share
Basic 34.9p15.1p34.9p21.6p
Diluted 34.8p15.0p34.9p21.6p

Group statement of comprehensive income

For the 53 weeks ended 30 September 2017

  2017
53 weeks
£m
2016
52 weeks
£m
Profit for the period6389
Items that will not be reclassified subsequently to profit or loss:
Unrealised gain on revaluation of the property portfolio74216
Remeasurement of pension liability8(22)
Tax relating to items not reclassified(13)(21)
69173
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations13
Cash flow hedges:
- Gains/(losses) arising during the period60(116)
- Reclassification adjustments for items included in profit or loss538
Tax relating to items that may be reclassified(19)10
95(95)
Other comprehensive income after tax16478
Decrease in provisions227167

Group balance sheet

30 September 2017

  2017
£m
2016
£m
Assets
Goodwill and other intangible assets109
Property, plant and equipment4,4294,423
Lease premiums12
Deferred tax asset110143
Derivative financial instruments4152
Total non-current assets4,5914,629
Inventories2425
Trade and other receivables5332
Other cash deposits120120
Cash and cash equivalents147158
Derivative financial instruments asset21
Assets held for sale1-
Total current assets347336
Total assets4,9384,965
Liabilities
Pension liabilities(47)(46)
Trade and other payables(297)(293)
Current tax liabilities(3)(12)
Borrowings(235)(253)
Derivative financial instruments(43)(44)
Total current liabilities(625)(648)
Pension liabilities(245)(291)
Borrowings(1,827)(1,920)
Derivative financial instruments(249)(360)
Deferred tax liabilities(324)(329)
Provisions(42)(9)
Total non-current liabilities(2,687)(2,909)
Total liabilities(3,312)(3,557)
Net assets1,6261,408
Equity
Called up share capital3635
Share premium account2627
Capital redemption reserve33
Revaluation reserve1,2021,142
Own shares held(1)(1)
Hedging reserve(244)(338)
Translation reserve1413
Retained earnings590527
Total equity1,6261,408