Shares in the company behind All Bar One are crashing
|11/23/2017||Posted by BusinessMediaguide.Com under General World News||
- Mitchells & Butlers reports 18% fall in profits as fall in the pound pushes up costs.
- Shares fall 10% at the open but have since recovered slightly.
LONDON — Shares in pub and restaurant owner Mitchells & Butlers are falling on Thursday morning after the company reported a steep fall in profits and warned of Brexit-related headwinds.
Mitchells & Butlers, which owns chains such as All Bar One, Toby Carvery, Harvesters, and Nicholson’s pubs, said that pre-tax profit for the year fell 18% to £77 million. Revenue rose 4.5% to £2.1 billion but rising costs meant the company failed to capitalise on read more >>>