Irish-backed UK pub group warns of Brexit costs

Mitchells & Butlers, part-owned by horseracing tycoons John Magnier and JP McManus, said Brexit had compounded risks around the supply and cost of products as well as labour shortages

JP McManus is a part owner of Mitchells & Butlers.

Irish-backed UK pub group Mitchells & Butlers has reported a narrowing of its annual losses, but has warned rising costs and labour shortages, due to Brexit, may hamper future earnings.

Irish horseracing tycoons John Magnier and JP McManus jointly own – through their Elpida investment vehicle – more than 23% of Mitchells & Butlers, which owns UK pub and family restaurant chains such as O’Neill’s, All Bar One and Harvester.