Mitchells & Butlers (MAB) shares jumped 10 per cent this morning, after the All Bar One owner outperformed the wider sector on growth, according to the CGA business tracker.
The FTSE 250 pub and restaurant operator鈥檚 like-for-like sales rose 4.3 per cent to 拢2.7bn in the 52 weeks to 27 September. Its pubs performed particularly well thanks to a warm summer, which offset flat restaurant sales and challenges in bars given a decline of the 鈥榣ate-night鈥� market.
Tight cost control measures meant that statutory operating profit also rose, from 拢300mn to 拢322mn. Its net debt position shrunk by 拢146mn to 拢843mn, although investors must wait for a dividend. The board argued it would be too expensive to restructure their securitised debt at present.
鈥淥ver time, and as the securitisation matures, the board will however continue to monitor the position and shareholder returns will be considered alongside investment opportunities,鈥� the company said.
Mitchells & Butlers warned it expects an additional 拢130mn costs in 2026, mainly due to higher labour costs and food cost inflation. That includes its preliminary assessment of the impact of this week鈥檚 Autumn Budget. However, the group argued it is 鈥渨ell-positioned鈥� to mitigate the increase.
