Mitchells & Butlers PLC
Telephone:0870 609 3000
Fax:0121 233 2246
Mitchells & Butlers is the owner and operator of a estate of managed pubs, bars and restaurants, along with two chains of budget hotels that are co-located with its pub-restaurants.
Some 90% of the group’s properties are freehold or long leaseholds and 75% are in residential locations.
The group operates a variety of brands under two core business divisions:
Pubs and bars: Brands include Ember Inns, Hollywood Bowl, Arena, Flares, Edwards, Goose, Scream, O'Neill's, Sizzling Pub Co, Nicholson's, Pop World, Pub and Carvery, Reflex, and Metropolitan Professionals.
Restaurants (including accommodation): Vintage Inns, Harvester, Toby Carvery, All Bar One, Innkeeper's Fayre, Browns, Alex (in Germany), Express by Holiday Inn, and Innkeeper's Lodge.
Non-executive chairman: Roger Carr
Finance director: Karim Naffah
Managing director, restaurants: Tony Hughes
Managing director, pubs and bars: Mike Bramley
Mitchells & Butlers is a relatively new company but it has a long pedigree. It is now a leading pub operator in the UK (owning 3% of the country's 60,000 pubs) and a significant player in the budget hotel sector.
Since its demerger from Six Continents, Mitchells & Butlers has built also up its franchise operation for smaller pubs and bars from just 18 venues in 2003 to 115 by 2006. This business includes the O’Neill’s pubs at Heathrow and Stansted airports that are run by The Restaurant Group.
“These strong results, with EPS up 15.6%, reflect our leadership position in the growing eating-out market and significant gains in our drinks market share. Our average weekly sales per managed pub are up by 7.6%, with a strong underlying margin performance. We are now serving almost 100 million meals a year. We are successfully converting the pubs purchased from Whitbread last year and are well on track to deliver the targets set out at the time of the acquisition. We remain confident in our future growth prospects.”
Source: Interim results statement, May 2007
Number of outlets: More than 2,000 (around 3% of the pubs in the UK)
Number of hotels: More than 100 (25 Express by Holiday Inns, 80-plus Innkeepers Lodges)
Number of hotel bedrooms: In excess of 4,000
Number of franchised pubs: 115
Number of staff: More than 37,000
Average weekly sales per pub: £17,5000 (three times the national average)
Pubs & Bars (1,147 managed outlets)
Full-year turnover: £958m (2005: £957m)
Full-year operating profit: £202m (2005: £177m)
Half-year turnover: £515m (2006: £508m)
Half-year operating profit: £92m (2006: £86m)
Restaurants (805 managed outlets, including the lodges)
Full-year turnover: £762m (2005: £697m)
Full-year operating profit: £130m (2005: £114m)
Half-year turnover: £478m (2006: £379m)
Half-year operating profit: £68m (2006: £57m)
Food accounts for 35% of sales while accommodation accounts for 6%
Turnover £1.72b (2005: £1.63b)
Pre-tax profit: £208m (2005: £189m)
Turnover: £995m (2006: £887m)
Pre-tax profit: £89m (2005: £93m)
Financial year end: 30 September 2006
Half-year end: 14 April 2007
Address:27 Fleet Street