Stock Market News
Mitchells & Butlers flags challenging business environment on cost pressures
2022.07.21 09:55
FILE PHOTO: The Mitchells & Butlers company logo is pictured in London, Britain, December 1, 2021. REUTERS/May James
(Reuters) – British restaurant and pub operator Mitchells & Butlers on Thursday flagged a challenging trading environment due to surging costs in the aftermath of the Ukraine conflict and low consumer spending amid a worsening cost-of-living crisis.
The company, which has about 1,700 restaurants and pubs in the United Kingdom, said quarterly like-for-like sales were up 0.9% compared with the same period in pre-pandemic 2019.
