Mitchells & Butlers Posts Strong FY24 Profit and Revenue Growth

Mitchells & Butlers PLC has reported a significant turnaround in its fiscal 2024 performance with a profit before tax of 199 million pounds, up from a loss last year. Earnings per share rose to 25.0 pence, reflecting a solid growth trajectory in revenue and sales.

Date: 27-11-2024

AI Rating: 8

Mitchells & Butlers PLC has experienced a remarkable rebound in fiscal 2024, showcasing substantial improvements across several financial metrics:

Profit Before Tax: The company reported a profit before tax of 199 million pounds, a substantial recovery compared to a loss of 13 million pounds in the previous year. This strong profit indicates effective cost management and improved operational efficiency.
Earnings Per Share (EPS): Earnings per share stood at 25.0 pence, a notable increase from a loss of 0.7 pence the previous year. This shift from negative to positive EPS highlights the organization's return to profitability, which is a critical indicator for investors.
Revenue Growth: Total revenue increased by 6.1%, rising to 2.61 billion pounds from 2.50 billion pounds. This growth demonstrates the company's ability to attract more customers and enhance sales.
Adjusted Profit and Operating Profit: Adjusted profit before tax was 211 million pounds, compared to 112 million pounds last year, while adjusted operating profit rose to 312 million pounds from 221 million pounds. These increases suggest the company is focusing on core operations and maximizing profits effectively.

Mitchells & Butlers is also experiencing a strong start to fiscal 2025, with like-for-like sales up 4% in the initial weeks. This positive trend, along with expectations to outperform the market, suggests a robust outlook for the company's future performance. The reported sales growth, despite facing challenges such as riots and poor weather conditions, indicates resilience and a solid brand portfolio.

Stocks: MAB.L