M&B profit fed by food sales

first_imgThursday 23 September 2010 8:16 pm Tags: NULL More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com KCS-content PUBS and restaurants group Mitchells & Butlers yesterday reported a surge in food sales in recent weeks and said it was looking to make acquisitions as it re-shapes itself into a food-led business.M&B, which has over 2,000 pubs and restaurants and whose brands include Harvester, All Bar One and Toby Carvery, reported a 4.4 per cent increase in sales at outlets open for more than a year in the nine weeks to 18 September, with food sales rising by 7.1 per cent and drink sales up 2.2 per cent.“This is a very encouraging performance, particularly given the present consumer economy, and underlines the strength of the Mitchells & Butlers business,” said chief executive Adam Fowle.The switch towards higher-margin food sales has enabled the company to improve its operating margin which it expects will have risen by 1.2 percentage points to 16.5 per cent in the year to 25 September.M&B, whose chains also include the Sizzling Pub company, O’Neills and Ember Inns, said it was planning to invest about £200m next year on acquisitions of single sites and small packages of sites, as well as maintenance and conversions of existing pubs.Fowle said the group planned to spend £90m on expansion with £110m being invested in maintenance and conversions. Fowle said the company will spend about £50m purchasing single sites, small groups of pubs and new build sites in retail parks and town centres.He added: “We’re keeping our options open although we feel no pressure to do larger transactions.”Clapham House and Carluccio’s have recently received bids. In Carluccio’s case the offer came form the Middle East. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailWork from Home | Search AdWork From Home for a USA company Might Be More Fun Than You ThinkWork from Home | Search AdGadgetheoryAirport Security Couldn’t Believe These Jaw-Dropping MomentsGadgetheoryBig Data Courses | Search AdBig Data Online Courses Might Be Cheaper Than You ThinkBig Data Courses | Search AdGardensTricks.comThis House Looks Small But Look Inside!GardensTricks.comLovesobserverThis Is Monica Lewinsky’s Bank Balance NowLovesobservercenter_img whatsapp whatsapp Show Comments ▼ M&B profit fed by food sales last_img

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