McManus and Magnier-backed UK pub group eyes strong Covid recovery

UK pub operators have called for a permanent cut to the Vat rate, with it having been temporarily slashed from 20% to 5%

JP McManus: Significant shareholder in British pub group Mitchells and Butlers.

British pub group Mitchells and Butlers in which financiers JP McManus and John Magnier are significant shareholders has said it is in a strong position as Covid restrictions ease in the UK.

The group, which owns chains such as O'Neill's and All Bar One, said that its sales in the year-to-date, including 18 weeks of enforced closure, are at 35% of pre-Covid levels, but trading has been helped by the UK’s temporary reduction in its hospitality Vat rate.