Wet summers and a growing foodie culture have taken their toll on the UK’s pub sector. Yet Mitchells & Butlers (M&B) appears to be shaping up, albeit slowly. The FTSE 250-listed company, which grew out of the merger of two brewing empires in the Midlands in 1898, is the second-largest operator of pubs and restaurants by revenue, running 1,800 outlets ranging from All Bar One and O’Neill’s pubs to Toby Carvery and Harvester restaurants. Its pre-close trading statement said like-for-like sales over the past 51 weeks grew by 1.8 per cent, ahead of competitors, while total sales, including new sites, are up 2.9 per cent on the year to date. The update comes several weeks after a gloomy trading statement from rival Greene King, which…

Source: The Times September 22, 2017 23:03 UTC