Sales at pub chain rise

Mitchells & Butlers — the British-based pub and restaurant owner, in which John Magnier and JPMcManus hold a significant stake — has reported a 4.4% year-on-year increase in sales for the first 17 weeks of its current financial year.

But the group suffered a revolt by shareholders unhappy with the lack of independent directors on its board and the overbearing influence of its biggest shareholder, Joe Lewis.

At its annual shareholder meeting in Birmingham yesterday, 14.3% of investors voted against the re-election of M&B’s only two non-executive directors, Ron Robson and Doug McMahon, who represent Lewis’s investment vehicle, Piedmont.