Increased food sales drive Mitchells & Butlers profits rise
Mitchells & Butlers has reported a 26% rise in pre-tax profits to £169m as customers bought more food and opted for more expensive dishes.
Like-for-like food sales were up 4.7% for the year to 25 September 2010, while overall like-for-like sales were up 2.8%.
Meanwhile revenue grew at a slightly slower pace - up 1.1% to just under £2b.
Commenting on the results, Adam Fowle, chief executive, said: "Excellent progress has been made against our strategic goal to turn Mitchells & Butlers into a food-led business by concentrating our industry-leading brands on the informal eating-out market."
The company recently adopted a strategy of focusing on six key brands - Harvester, Toby Carvery, Crown Carveries, Sizzling Pub Co, Premium Country Dining Group and Vintage Inns - to help drive up its food sales.
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By Neil Gerrard
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