Mitchells & Butlers Share Discussion Threads

[essentialinvestor] 23/11/2016 15:56

red, often too cautious, as with ROR.

[togglebrush] 23/11/2016 09:07

Press
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[jeffian] 22/11/2016 12:47

A very sad story from the formerly mighty Bass estate. Was one of the best-managed pub estates with the highest quality properties. Initially survived the Beer Orders break-up ok but were crucified by being lured into a ludicrously structured property deal by the spivvy Tschenguez and compounding it by taking out an enormous unsupported hedging position which went against them. The resultant financial damage killed any investment into the estate and they have just trickled along as a zombie company. How are the mighty fallen. Whenever the Government interfere in markets, the rule of Unintended Consequences always comes into play. Just watch what happens under the new Pubs Code (far from 'protecting' tenants, pubco's are simply booting them out and taking the best pubs back under direct management). And Theresa May says she wants a new "Industrial Strategy". Sounds like the days of Wilson and Wedgwood Benn. Gawd preserve us.

[essentialinvestor] 22/11/2016 12:35

Deservedly punished on that update IMV.

May not be a great read through for the rest of the sector either.

[togglebrush] 22/11/2016 09:46

First year of CEO ... not an impressive start
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Appointment of Phil Urban as Chief Executive, was from 27 September 2015. Phil joined Mitchells & Butlers in January 2015 as Chief Operating Officer, and was previously Managing Director at Grosvenor Casinos, a division of Rank Group and Chairman of the National Casino Forum. Prior to that, he was Managing Director for Whitbread's Pub Restaurant division, and for Scottish and Newcastle Retail's Restaurants and Accommodation Division. Phil has an MBA and is a qualified management accountant (CIMA).

[togglebrush] 22/11/2016 07:17

Results in brief

- Return to like-for-like sales growth
- Acceleration of estate investment
- Good progress on all three strategic priorities

Financial performance

- Full year like-for-like sales down 0.8%a with improving trend through the year. Recent eight weeks up 0.5% - Adjusted operating profit of £318mb (FY 2015 £328m) - Adjusted earnings per share of 34.9pb (FY 2015 35.7p)

- Final dividend of 5.0p Ex Div 2 Dec Paid 7 Feb 2017

Reported results

Total revenue of £2,086m (FY 2015 £2,101m) Operating profit of £231m (FY 2015 £270m) Profit before tax: £94m (FY 2015 £126m) - Basic earnings per share: 21.6p (FY 2015 25.0p)

Balance sheet and cash flow

- Capital expenditure £167m (FY 2015 £162m), including 8 new site openings and 252 conversions and remodels - Free cash flow before adjusted items of £60mc (FY 2015: £95m) - Net debt of £1.84bn representing 4.3 times adjusted EBITDAb (FY 2015 4.3 times

[dandanactionman] 21/11/2016 13:52

All the following is imho dyorI am looking at this re results tomorrow.One query is are we expecting a pensions valuation update? I am concerned deficit will have risen and this contributions will have to rise?

[togglebrush] 25/10/2016 16:53

Dive today appears to be associated with Whitbread's Interims whose numbers were reasonable but outlook seems to have been the RED FLAG

[waspfactory] 18/8/2016 10:44

"Underlying trading has improved in recent months, particularly when taking into account the negative impact of Euro 2016 and the wet weather seen in June. This reflects the good progress we are making across our three priority areas: to rebalance the business, to instil a commercial culture and to increase the pace of execution and innovation".

Recent spell of good weather good news for M&B - my local Ember Inn is doing a roaring trade with a large outside seating area. Shame it's forecast to rain :(

[togglebrush] 27/7/2016 07:12

Mitchells & Butlers PLC Third Quarter Trading Update is out
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IMHO Outlook appears Positive

[togglebrush] 17/7/2016 07:26

Last week in JULY normally has an Interim Management Statement ???
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APPEND 19 July
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RNS it is expected 27th July 2016 ... Quarter 3 IMS

[bigdazzler] 25/5/2016 16:45

Sold this afternoon almost a 10% profit, over time I'm sure this will go higher.

[waspfactory] 25/5/2016 14:51

Brexit = pound v Euro parity - will definitely be staying at home! Good range of beers in Ember Inns, cheers.

[bigdazzler] 24/5/2016 11:26

About time this good quality stock started to show some life.

[thomasthetank1] 19/5/2016 17:51

Read Panmure Gordon & Co's note on MITCHELLS & BUTLERS PLC (MAB), out this morning, by visiting hxxps://www.research-tree.com/company/GB00B1FP6H53

"Mitchells & Butler released half year results in line with expectations with tough LFL sales (-1.6%), offset by +50bps margin improvement. More importantly the new (ish) CEO Phil Urban has outlined his plan following a comprehensive strategic review. This will involve acceleration in investment and conversions to enhance organic growth, to increase exposure to the Premium segment (Miller & Carter), re-model and reduce size of the Harvester estate, and convert many Crown Carveries to the Pizza & Carvery concept. The new..."

[togglebrush] 19/5/2016 07:10

The Board has approved an interim dividend of 2.5 pence per share which will be paid on 4 July 2016 to shareholders on the register at the close of business on 27 May 2016.
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Financial performance
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- Total revenue of £1,096m, down 1.5%
- Sales uplifts from invested sites in excess of 10% in first year offset by decline in uninvested estate to give overall like-for-like sales decline of 1.6%
- Adjusted operating profit of £156m, up 2.0%
- Adjusted operating margin 14.2%c (H1 2015: 13.7%)
- Adjusted earnings per share of 15.7pc, up 9.0%
- Interim dividend of 2.5p approved
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Reported results
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- Profit before tax: £83m (H1 2015 £75m)
- Basic earnings per share: 18.4p (H1 2015 14.4p)
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Append
IMHO on first reading this is LOOKING POSITIVE