Mitchells & Butlers PLC (LSE:MAB)
£ 2.635 0.03 (1.15%) Market Cap: 1.56 Bil Enterprise Value: 3.23 Bil PE Ratio: 0 PB Ratio: 0.73 GF Score: 73/100
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Half Year 2019 Mitchells & Butlers PLC Earnings Call Transcript

May 23, 2019 / 07:30AM GMT
Release Date Price: £2.38 (+8.87%)
Timothy Charles Jones
Mitchells & Butlers plc - Finance Director & Director

So good morning. Thank you very much for joining us today. I would like to take you through the financial elements of our performance in the first half. I'm going to hand over to Phil, who'll look at -- over the operation and the strategic progress that we've made.

But maybe before I start, the sort of key message is that we would give you to take away from these set of results. We're really pleased, very strong trading for us in the first half. We have good like-for-like sales growth, an acceleration in that over previous years and that remains well ahead of the market. What we're starting to see is the whole plethora of initiatives (technical difficulty) a lot about today that we've been instigating over the last 2 years really start to get some traction and have an impact within our P&L. And that's allowed us to deliver operating profit growth, and that at an increased percentage margin as well.

So looking slightly further forward, the market will remain tough and in particular, I'll talk a bit

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