Mitchell & Butlers rises despite losses

Shares in FTSE 250 pub landlord Mitchell & Butlers (LON:MAB) climbed 3.64% to 198.58p (as of 15:40 BST) after it announced results for the half year to 11th April. Revenues were down by 11% relative to the same period last year and the firm booked a pre-tax loss.

CEO Phil Urban commented: “The business was performing very well before the enforced closure in response to Covid-19, building on the strengths of our estate of mainly freehold properties, our diversified and well-loved brands and our team’s industry leading operational skills. These assets, coupled with our early experience of re-opening in Germany, give us a clear plan for re-opening and ensure that we are well placed to continue to bring people and communities together and to keep Mitchells & Butlers at the forefront of the eating and drinking-out market“.