Mitchells & Butlers projects a £100m impact from upcoming tax changes, with increased minimum wages and NICs significantly raising operational costs by 5%. CFO Phil Urban acknowledges a challenging financial year ahead.
Phil Urban noted that while inflationary pressures are increasing, the company plans to focus on cost control and enhancing sales to navigate the upcoming challenges, stating that despite rising expenses, the business remains in good shape.
The group’s pre-tax profit rose to £199m, a rebound from a previous loss of £13m, even as like-for-like sales increased by 5.3% year-on-year amid stabilizing food and drink costs.
Despite these cost headwinds, Mitchells & Butlers remains optimistic, expecting to outperform the market due to its strong sales growth and improved financial standing.
Collection
[
|
...
]