Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Mitchells & Butlers (MAB)

  Print      Mail a friend

Thursday 26 January, 2012

Mitchells & Butlers

Interim Management Statement

RNS Number : 1997W
Mitchells & Butlers PLC
26 January 2012

26 January 2012


Mitchells & Butlers plc

Interim Management Statement

Operating performance


Like-for-like sales in the 9 weeks to 21 January 2012 were up 6.5%, assisted by the improved weather over this year's Christmas period.  As a result, like-for-like sales in the first 17 weeks of the financial year were up 4.4%. 


Trading in January has been more subdued but consistent with the underlying like-for-like sales trend first noted in July last year of around 1% growth.


Like-for-like sales

FY 2011

First 8 weeks

Current trading

Trading to IMS

52 weeks to

24 September 2011

8 weeks to

19 November 2011

9 weeks to

21 January 2012

17 weeks to

21 January 2012

















Total Company sales in the first 17 weeks, including the impact from major disposals last year, were up 1.3%.  In the same period, total sales for the Retained Estate* were up 7.5%.


The Company continues to progress a number of business initiatives, including simplifying processes and devolving greater responsibility and accountability to customer facing operations.  This will enhance the guest experience and lay the foundations for further business growth.  Brand Operations Directors are now in place and further changes are anticipated in central support structures where a staff consultation period is in progress.


Capital expenditure and net debt


Expansionary capital expenditure plans continue with a good pipeline of sites available for new openings in the year ahead.  Net debt within the business is unchanged at approximately £1.9bn.


Board composition


Good progress is being made to appoint a new CEO and to strengthen the Board with additional Non-Executive Directors.




The consumer environment remains challenging.  Inflationary cost pressures in areas such as food, duty and energy continue, with the latter expected to impact particularly on the first half of the financial year.  We are actively seeking to mitigate the impact of these cost increases through our sales performance together with effective implementation of our business initiatives and investment in new site developments.


Overall, Mitchells & Butlers' strong portfolio of assets, brands and operating capabilities gives the Board confidence in the Company's ability to grow further in the year ahead.



Commenting on the results, Executive Chairman Bob Ivell said:


"These results reflect a successful Christmas sales performance.  Although assisted by better weather, they show that customers are still keen to treat themselves even in a difficult economic environment.  I am encouraged by the progress that we have already made in a number of areas to re-focus the operations and improve the guest experience.  This gives me confidence in our ability to successfully develop and grow the business in the year ahead"



* Note: the Retained Estate comprises the ongoing business and is stated before exceptional items and other adjustments.  It excludes the major disposals of 333 non-core pubs, lodges and Hollywood Bowl, and in addition SCPD. 


There will be a conference call for analysts and investors at 9.00am; please dial +44 (0) 1452 580 410 and quote conf ID 46595789.  Please dial in 5-10 minutes before the conference start time.  The replay will be available until 1 February 2012 on +44 (0) 1452 55 00 00, replay access number 46595789#.


For further information, please contact:


Tim Jones - Finance Director

0121 498 6513

Erik Castenskiold - Director of Corporate Affairs

0121 498 6513

James Murgatroyd (RLM Finsbury)   

0207 251 3801


Notes for editors:



Mitchells & Butlers is the leading operator of restaurants and pubs in the UK.  Its leading portfolio of brands includes Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group, Crown Carveries, Sizzling Pubs, Browns, Miller & Carter, Metro Professionals, All Bar One, Nicholson's, O'Neill's and Ember Inns.  Further details are available at


Mitchells & Butlers' continuing business serves around 125 million meals and 425 million drinks each year and is one of the largest operators within the UK's £70 billion eating and drinking-out market.


Like-for-like sales growth includes the sales performance against the comparable period in the prior year of all UK managed pubs that were trading in the two periods being compared.  For the 17 weeks to 21 January 2012, 92% of the UK managed estate is included in this measure.


This information is provided by RNS
The company news service from the London Stock Exchange