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The Latest Breaking News from Phil Urban

Mitchells & Butlers H1 Earnings Call Highlights

Mitchells & Butlers (LON:MAB) said first-half trading remained ahead of the wider market, with management pointing to resilient sales, cost controls and balance sheet progress despite weaker second-quarter momentum and significant inflationary pressures. Chief Executive Officer Phil Urban said

MarketBeat

Toby Carvery owner hikes menu prices as it faces £130 million bill

Mitchells & Butlers said rising steak prices had impacted its eateries and Miller & Carter restaurants

The Independent UK

Surging steak prices deliver cost hit for Toby Carvery owner

Mitchells & Butlers said steak prices have soared by nearly a third.

Evening Standard

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Toby Carvery owner celebrates results after hot weather brings in bumper customers

Bosses said they were encouraged by the performance ‘despite well-publicised cost inflation challenges facing the sector’

The Independent UK

Toby Carvery owner says sales to hit ‘top end’ of guidance amid hot weather

Mitchells & Butlers, which also runs Harvester and Miller & Carter venues, said like-for-like sales grew by 5% over the quarter to July 19.

Evening Standard

Nightclub trade shrinking as younger people stay at home instead

One pub and bar boss said the group would not look to grow in nightclubs because of the challenges it faces

The Independent UK

Tough times loom for night-time economy as young Britons opt to go out (and go home) early

Mitchells & Butlers pubco boss says home delivery boom and social media have changed attitudes to going out late

The Guardian - UK

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Nightclub market shrinking as younger people stay at home, says pub boss

Phil Urban, the chief executive of Mitchells & Butlers, said the group would not look to grow in that market because of the challenges it faces.

The Independent UK

Toby Carvery owner toasts higher sales as pubs lead the way

Mitchells & Butlers chief executive Phil Urban said the company is ‘working hard’ to mitigate higher costs.

The Independent UK

Toby Carvery boss apologises for ‘upset caused’ by felling of centuries-old tree

The tree was cut down in Whitewebbs Park, north London on April 3.

Evening Standard

Ancient London oak hacked down by Toby Carvery owners could have lived ‘another few hundred years’

The ancient oak was on the edge of Whitewebbs Park, next to the Whitewebbs House Toby Carvery

The Independent UK

Council plans legal action over ancient London oak felled by Toby Carvery

Enfield council disputes restaurant chain’s claim 500-year-old tree in Whitewebbs Park was ‘mostly dead’

The Guardian - UK

All Bar One owner M&B warns of price rises due to Budget cost woes

Mitchells & Butlers is facing around £23 million a year in extra costs from the rise in national insurance contributions alone.

The Independent UK

Where are the cheapest pubs in London? Pint prices climb by as much as 20%

A pint of Guinness can cost you more than twice as much depending on where in London you buy it

Evening Standard

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The Guardian - UK

Harvester owner warns of inflation cost ‘headwinds’

Pub and restaurant group Mitchells & Butlers lauds sales rise but warns of risks ahead

Evening Standard

Hope for pub trade as Mitchells & Butlers doubles sales and comes back into the black

Fresh signs of hope emerged for the embattled pub trade today as one of the industry’s biggest names said it was back in profit after a revival in trade and increasingly optimistic about the future.

The Guardian - UK

Thursday the new Friday as UK returns to office for ‘core’ midweek days

City centres are gradually getting busier, but it is likely some degree of remote working is here to stay

The Guardian - UK

UK pub chains warn of price rises due to increase in food and fuel costs

Marston’s phases out ‘two-for-one’ meal offer while Mitchells & Butlers increases prices to cope with rising costs of utilities, wages and food

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