Mitchells & Butlers Share Discussion Threads

[masurenguy] 25/9/2014 09:16

"It comes to something when you have to blame the rain!"

Ironically this Birmingham band originally called themselves the MB's in the hope of being sponsored by the brewery and then subsequently changed it to reflect their musical style

[jeffian] 25/9/2014 09:10

"...rainfall was significantly higher than last year..."

Hmmm! It comes to something when you have to blame the rain!

[togglebrush] 25/9/2014 07:29

Pre Close extracts
'
Total sales growth for the 51 weeks was 3.8%, with like-for-like sales increasing by 0.6%.
'
Alistair Darby, Chief Executive, commented:
'
"Despite a difficult trading period in the last quarter, the transformation of our business is well on track. Coupled with the successful integration of the Orchid estate, this gives us confidence in our future growth prospects."

[cockneyrebel] 22/9/2014 12:11

Trading update on Thursday - perhaps we'll get a reason for Friday's rally:


RNS Number : 2445S
Mitchells & Butlers PLC
22 September 2014
22 September 2014
Mitchells & Butlers plc
Notice of Pre-Close Trading Statement
Mitchells & Butlers will release its Pre-close Trading Statement on Thursday 25 September 2014.
For further information, please contact:

[cockneyrebel] 19/9/2014 15:35

Galloping away on good volume.

CR

[cockneyrebel] 19/9/2014 10:47

Breaking through the previous high.

CR

[cockneyrebel] 15/8/2014 10:01

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [e-mail]
0807 GMT [Dow Jones] Jefferies reiterates its Buy recommendation on UK pub and restaurant group Mitchells & Butlers (MAB.LN) with a target price of 500p. The broker upgrades its FY15-16 forecasts by between 5% and 10%, seeing a significant sales and profit lift from the acquisition of Orchid and its 173 pubs, with the added bonus of the deal expected to be earnings enhancing in year one, helped by the low cost of funding. M&B has also come to an agreement on the triennial pension valuation which paves the way for a dividend, which will likely be announced with the final year results in November. Jefferies says the combination of the Orchid deal, better organic operating performance and a dividend announcement should drive a share re-rating. M&B trades +0.9% at 409p. ([e-mail])

[tonysss13] 05/8/2014 14:42

something up maybe? Joe Lewis in town?

[peterclo] 05/8/2014 14:28

big bids in MAB suddenly, any ideas why?

[gscrawler] 17/6/2014 16:33

Market is not liking this latest acquisition. It really means more debt and goodbye divident for a long while.

[gscrawler] 17/6/2014 16:33

Market is not liking this latest acquisition. It really means more debt and goodbye divident for a long while.

[togglebrush] 30/5/2014 12:14

EXTRACT from FT

May 29, 2014 12:34 pm
Mitchells & Butlers in talks to buy Orchid pubs
'
Mitchells & Butlers has entered into exclusive talks to acquire the
bulk of pubs owned by upmarket group Orchid in a £250m deal as part of the All Bar One owner's attempt to accelerate profit growth.
'
M&B saw off competition from private equity firms Colony Capital and Starwood Capital, as well as rival pub group Greene King, to enter into exclusive talks with Orchid.
'
Under the potential deal, M&B will take on about 180 of Orchid's 220 pubs, with the remaining estate handed over to administrators EY.

[libertine] 30/5/2014 10:19

30 May 2014 Mitchells &... MAB Numis Buy 420.70 414.70 525.00 525.00 Upgrades

[libertine] 30/5/2014 08:06

30 May 2014 Mitchells &... MAB Citigroup Buy 0.00 414.70 - 500.00 Upgrades

[skinny] 29/5/2014 09:40

Numis Add 409.90 525.00 525.00 Reiterates

[skinny] 29/5/2014 09:39

Mitchells & Butlers plc (Mitchells & Butlers) notes the recent press speculation regarding the Orchid Group (Orchid).

Mitchells & Butlers confirms that it has entered into exclusive discussions regarding the potential acquisition of the majority of the Orchid estate.

Discussions are ongoing and there can be no certainty that a transaction will be concluded.

A further announcement will be made in due course as appropriate.

[togglebrush] 22/5/2014 07:11

Interims out and still NO DIVI YET:-
'
Dividends
'
Following agreement of the 2013 triennial pensions valuation and related recovery plan, the Board will assess a return to paying dividends in light of the full year trading and cashflow generation.

[libertine] 28/4/2014 09:27

28 Apr 2014 Mitchells &... MAB Deutsche Bank Buy 444.55 436.70 435.00 620.00 Upgrades

[togglebrush] 30/1/2014 14:30

It used to be Bass Charrington. Charrington was the London and South East England operation was the Cash Cow the Business. Charrington began the takeover in the 1950's which built the group and M&B was the final piece of the jigsaw in the mid 1960's. M&B had been the Midlands operation and was very Managed House orientated. The Managed House style was seen future after the Monopolies and Mergers Commission broke up the group in the early 1990's.
'
Now the group is beginning to re focus back on the London operations with their new acquisitions etc. The South East is where the customers have spending power. Both Fullers and JDW have London origin's. The political in fighting of the 1990's where the Midland Boys won may now be realised to be a mistake. I just hope it is not too little too late.

[jeffian] 30/1/2014 10:22

Not that great compared to rivals. Fullers also reported today -

"Like-for-like sales in Managed Pubs and Hotels grew 7.7% for the period and by 7.2% in the 10 weeks since the Company last reported."

and JDW a few days ago

"For the first 12 weeks of the second quarter (to 19 January 2014), like-for-like sales increased by 6.7% and total sales by 10.6%. In the year to date (25 weeks to 19 January 2014), like-for-like sales increased by 5.2% and total sales increased by 9.0%."

M&B (Bass) used to be a market leader. Doesn't feel like it now.

[togglebrush] 30/1/2014 10:09

Good Looking IMS out ... they had a very Merry Christmas ... Market seemed to like the IMS !!!

[skinny] 26/11/2013 09:18

Numis Buy 424.15 500.00 500.00 Retains

[skinny] 26/11/2013 07:14

Statutory results

- Profit before tax: £150m (FY 2012: £83m)
- Basic earnings per share: 32.9p (FY 2012: 17.1p)

Financial performance (52 week comparables)

- Total revenue of £1,895m, up 2.2%a
- Like-for-like sales growth of 0.4%b
- Adjusted operating profit of £312m, up 5.1%c
- Adjusted earnings per share of 34.9p, up 17.1%c
- Net cash flow of £29md after mandatory bond amortisation of £55m
- Net debt of 4.2 times EBITDAe at year end (FY 2012: 4.5 times EBITDA)


- Like-for-like sales up 0.1% in the first 8 weeks of FY 2014

Operational performance

- Operating margin up 0.5 percentage points to 16.5%f
- Good progress across all priority areas: people, practices, guests and profits
- Staff turnover down 4 ppts and net promoter score up 4 ppts
- New tills, payment systems, table management and kitchen management systems in full roll out

Property Estate

- 16 new sites opened across the upmarket social, family and special market spaces
- 17% EBITDA returns achieved on expansionary capex invested since FY 2011
- £31m increase in property value as a result of annual revaluation and impairment review
- Pipeline of new sites building for FY 2014 and beyond