World Cup helps boost Irish pub back in the UK firm

  • World Cup helps boost Irish pub back in the UK firm
    Independent.t. E.
    The Mitchells & Butlers, the UK pub chain, where the Irish horse racing magnates JP McManus and John tention to own more than 23pc of the shares, said that the performance of the England team at the World Cup and hot weather has helped sales of its drinks.
    https://www.independent.ie/business/irish/world-cup-helps-boost-irishbacked-uk-pub-firm-37180137.html
    https://www.independent.ie/incoming/article37179874.ece/571b7/AUTOCROP/h342/PL35020421Horse%20Racing%20fro.jpg

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The Mitchells & Butlers, the UK pub chain, where the Irish horse racing magnates JP McManus and John tention to own more than 23pc of the shares, said that the performance of the England team at the World Cup and hot weather has helped sales of its drinks.

He said that food came under pressure, but has since recovered.

Companies with £1 billion (€1.1 billion) market capitalization, has more than 1,700 pubs and restaurants.

They work under a variety of brands such as harvester, O’neill’s, Toby carvery and Sizzling pubs. He serves annually about 400 million drinks and over 130 million meals.

Two Irish businessmen combined owned the stocks included in the FTSE-250 group a pub for over ten years. Their car Elpida, through which they own their shares, is the second largest shareholder in the chain.

The largest, with just under 27pc paintball is Bahamas-based British billionaire Joe Lewis.

The Mitchells & Butler said it, like for like sales in the quarter to 28 July rose 0.9 PC, with “very high” performance in its category drinks kompensiruet more difficult conditions in food-led business, reflecting the impact of the world Cup and stable Sunny weather.

England only got to the semifinals in the tournament this summer in Russia, before knocked out of Croatia.

Like for like sales in the category liquor in the 11 weeks to July 28 3.9 PC higher, while sales of food products decreased by 1.8 PC.

In the financial year to date, total like for like sales rose 1.3 PC, with food sales 0.3 PC higher and drink sales up 2.5 PC.

The group noted that the costs of the headwinds remain largely unchanged and are expected to lead to profitability lower than last year.

“Trading was polarized by the company, the wet led part of the business, providing a very strong growth, but some more food-Led formats, in particular, meat businesses, a negative impact,” said CEO Phil urban.

“However, we were pleased to see sales recover now that the world Cup is over and we continue on our long journey.”

He added that the company remains confident in the date of the annual performance in line with expectations of the Council.

“The second wave of conversion activity is beginning to bear fruit and the momentum behind this programme of work continues to grow,” he said.

Mitchells & butlers to open five new sites and completed 228 of transformation and remaking of the financial year.

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