Business
Mitchells & Butlers : Half Year Results announcement 2026(767.62 kB) (half yr26 results)
Mitchells & Butlers : Half Year Results announcement 2026(767.62 kB) (half yr26
About this update from Mitchells & Butlers Plc
[{"type":"text","content":"\n MITCHELLS & BUTLERS PLC\n \n \n LEI no: 213800JHYNDNB1NS2W10\n \n \n \n 21 May 2026\n \n \n \n HALF YEAR RESULTS\n \n \n \n (For the 28 weeks ended 11 April 2026)\n \n \n \n Highlights\n \n \n Robust trading performance with like-for-like salesagrowth of 3.3% over the first half\n \n \n Adjusted operating profitaof £181m maintained despite inflationary cost pressure\n \n \n Record guest review scores of 4.7 out of 5 across the brand portfolio\n \n \n \n Reported results\n \n \n Total revenue of £1,490m (HY 2025 £1,454m)\n \n \n Operating profit of £185m (HY 2025 £181m)\n \n \n Profit before tax of £143m (HY 2025 £134m)\n \n \n Basic earnings per share of 17.9p (HY 2025 16.8p)\n \n \n \n Trading results\n \n \n Adjusted operating profita£181m (HY 2025 £181m)\n \n \n Adjusted earnings per shareaof 17.4p (HY 2025 16.8p)\n \n \n \n Balance sheet and cash flow\n \n \n Cash inflow before bond amortisation of £98m (HY 2025 £131m)\n \n \n Net debtareduced to £747m (HY 2025 £860m), excluding £405m of IFRS 16 lease liabilities (HY 2025 £438m)\n \n \n \n Phil Urban, Chief Executive, commented:\n \n \n \n \"We have delivered another robust performance over the first half reflecting continued focus on enhancing guest appeal across our diverse portfolio of brands, driving sales growth through compelling customer offers and disciplined execution. Maintaining profits despite the significant inflationary cost challenges facing the sector is testament to the dedication of our teams in delivering the benefits of our Ignite and capital programmes.\n \n \n \n Despite the backdrop of macro uncertainty our priorities remain unchanged, our guest scores are at record highs, we remain committed to the delivery of quality experiences, and we are well placed to further grow market share.\"\n \n \n Definitions\n \n \n a - The Directors use a number of alternative performance measures (APMs) that are considered critical to aid the understanding of the Group's performance. APMs are explained later in this announcement.\n \n \n \n There will be a presentation held today at 8:30am accessible by phone on 0203 936 2999, code: 235375\n and at https://www.netroadshow.com/events/login/1PeTHmohYBazaFEIhmscj4V6Rf62GltvvIug6\n The slides will also be available on the website at https://www.mbplc.com. The replay will then be available at https://www.mbplc.com/hy2...