Mitchells & Butlers pleased with strong financial year
Total sales across the Mitchells & Butlers estate were £2.7bn.
Mitchells & Butlers, operator of brands such as Browns, All Bar One and Miller & Carter, has released its financial results for the 52 weeks ended 27 September 2025.
Total sales across the period were £2.7bn, reflecting a 3.9% growth on 2024. Like-for-like sales increased by 4.3%, with strong performances through the brand portfolio.
An adjusted operating profit of £330m was 5.8% up on last year (2024: £312m).
Over the most recent eight weeks. like-for-like sales have strengthened from the final quarter of 2024, growing by 3.8% despite uncertainty ahead of the chancellor’s Autumn Budget.
The business says it anticipates 2026 cost headwinds of c.£130m, representing slightly less than 6% of its cost base before mitigation. These are driven by labour cost increases, plus further increases in the statutory thresholds, food cost and the impact of the most recent Budget.
"We are pleased to report another year of strong performance," says Phil Urban, CEO of Mitchells & Butlers. "Like-for-like sales continued to outperform the market across all segments, reinforcing the strength of our strategy and market positioning. Combined with disciplined operational execution, this delivered robust profit growth mitigating sector-wide cost headwinds.
"As we look to the year ahead, we anticipate increased cost pressures across the sector. However, we remain confident in our ability to manage these challenges through our established Ignite improvement programme and disciplined capital investment strategy. Our market-leading estate and diversified guest propositions provide a strong foundation for resilience and growth, enabling us to capture incremental market share and deliver continued long-term outperformance."
Looking back on the year
Mitchells & Butlers made a good start to the year, with like-for-like sales growth of 4.0% over the first seven weeks. Performance over the important three-week festive period was particularly strong, with like-for-like sales growth of 10.4%.
Sales remained resilient through the second quarter, aided by good weather in late March, and with a particularly strong performance on Mother’s Day.
Third quarter growth remained strong and benefitted from the movement of Easter into the second half, with like-for-like sales growth of 5.0%.
It says its fourth quarter like-for-like sales growth of 3.2% reflected robust performances in mid-market pub and pub restaurants, balanced against slightly weaker sales in London within the M25 and in more premium businesses.
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