Shares in the UK pub and restaurant group co-owned by Irish financiers JP McManus and John Magnier surged by almost 11% as it shrugged off Brexit-related pressures with a 9% jump in first half profits. Mitchells & Butlers owns a number of UK brands including the Irish-themed O'Neill's pub chain and the Harvester network of family restaurants. Mitchells & Butlers said first half pre-tax profits grew by 8.7%, year-on-year to £75m (€85m). “The market backdrop remains uncertain due to the political and economic landscape in the UK. We will maintain our focus on these initiatives, which we believe are transforming the business," said chief executive Phil Urban.

Source: Irish Examiner May 23, 2019 17:37 UTC