M&B results show sales growth of 5%

Mitchells & Butlers (M&B) has released its full-year financial results for the 52 weeks ended 28 September 2024.

The operator of Ember Inns, Nicholson's, O'Neill's and many other branded concepts, saw a like-for-like sales growth of 5.3%, delivering an operating profit of £312m, up 41.2% from prior year.

Total revenue for the period was £2.61bn (2023 £2.5bn), with a profit before tax of £199m.

While M&B has made a strong start to its 2025 financial year, with like-for-like sales up 4% in the first seven weeks, cost headwinds are anticipated to total c.£100m, an increase of just over 5% on its current cost base. 

As well as general inflation, the most significant increase is expected to be in relation to labour costs, due both to increases in the statutory 
National Living Wage and in the recently announced increase in Employer National Insurance contributions, both of which take effect from April 2025.

A very strong performance

"We are delighted by the very strong performance during the year," says Phil Urban, chief executive of M&B. "Like-for-like sales continued to outperform the market, which, coupled with easing inflationary costs and focus on efficiencies, has resulted in very strong profit recovery.     

"We face increased inflationary cost headwinds in the year ahead. However, we shall remain focused on our established Ignite programme of initiatives and our successful capital investment programme, to drive further cost efficiencies and increased sales. Coupled with our market-leading estate and customer offers, we are confident that this will enable us to further grow market share and secure continued long-term outperformance."

Over the last year, M&B completed 195 investment projects comprising 178 remodels, 11 conversions and 6 acquisitions. 

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