Mitchell & Butler profits dip slightly

MITCHELL & BUTLERS, the Birmingham-based pub and restaurant owner in which Irish financiers John Magnier and JP McManus hold an interest, has reported a slight fall — 0.5% — in pre-tax profits to £207 million (€289m) for the year to the end of September.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 9.8% to £472m (€664m), while full-year group revenues reached £1.9 billion (€2.65bn) — up by just over 10% on the previous 12 months.

The group owns the Harvester chain of family restaurants, as well as popular British pub chains All Bar One and the Irish-flavoured O’Neill’s.