Mitchells & Butlers FY21 Loss Narrows, 8-week Sales Rise; Sees Return To Profit - Quick Facts

Mitchells & Butlers Plc (MAB.L,MLB), an operator of managed restaurants and pubs, reported Thursday that its fiscal 2021 loss before tax was 42 million pounds, narrower than last year's loss of 123 million pounds.

Basic loss per share was 11.5 pence, compared to 23.6 pence a year ago.

Operating profit grew to 81 million pounds from prior year's 8 million pounds. Total revenue declined to 1.07 billion pounds from 1.48 billion pounds a year ago. Like-for-like sales declined 9.6 percent impacted by Covid-19 related restrictions.

In the last eight weeks since the end of the financial year, total sales edged up 0.5 percent and like-for-like sales grew 2.7 percent.

The company noted that demand seen since re-opening supports a return to profitability and cash generation, even though uncertainty and challenges still remain.

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