BRITISH pub group Mitchells & Butlers (M&B) – in which Irish financiers John Magnier and JP McManus have a sizable shareholding through their Elpida investment vehicle – has reported a 2% year-on-year increase in sales for the 12 months to the middle of September.

THE main independent shareholders of British pub group Mitchells & Butlers (M&B) – specifically British financier Joe Lewis and Irish businessmen John Magnier and JP McManus – have succeeded in overthrowing the group’s board after months of hostility.