Mitchells & Butlers Delivers Strong Full-Year Performance With 4.2% Like-For-Like Growth
Mitchells & Butlers has announced impressive full-year results, with like-for-like sales climbing 4.2% for the fiscal year ending 20th September 2025, demonstrating the resilience of the UK’s hospitality sector leader.
The FTSE 250-listed operator, which runs popular brands including Harvester, Toby Carvery, and All Bar One, saw its fourth quarter contribute significantly to this performance, with like-for-like sales advancing 3.1% in the final three months of the trading period.
Fourth quarter trading showed particularly encouraging trends across both revenue streams, with food sales increasing 3.4% and beverage sales growing 1.9% on a like-for-like basis. Total sales across the company’s 51-week trading period rose 3.9%, reinforcing the group’s position as a consistent outperformer in challenging market conditions.
The results revealed interesting regional and segment variations in performance. Mid-market pub and pub restaurant formats delivered particularly robust trading, while the company’s London-based venues and premium restaurant concepts experienced more modest growth rates during the period.
Chief Executive Phil Urban highlighted the broad-based nature of the company’s success, emphasising how performance strength extended across the entire brand portfolio,
“We are pleased with our performance this year, in which we have remained consistently ahead of the market across all market segments. Sales growth has been broad based, with strong like-for-like performances in both food and drink across our portfolio of brands, supported by cost efficiencies and a capital programme that continues to deliver strong returns.” He said.
The investment strategy showed clear acceleration during the year, with the company completing 201 site conversions and remodelling projects – a significant increase from the 185 completed in fiscal 2024. This ambitious refurbishment programme forms part of Mitchells & Butlers’ long-term strategy to maintain its competitive edge and enhance customer experience across its estate.
Expansion activity also featured in the year’s achievements, with the opening of two new venues: an Alex-branded site in Germany marking the company’s international presence, and a new Browns location in London’s competitive dining market. Additionally, the group strengthened its property position by acquiring freehold interests in two existing operational sites.
Looking forward, management expressed confidence about meeting analyst forecasts for the current financial year, despite acknowledging significant cost pressures ahead. The company anticipates facing inflationary headwinds of approximately £130 million in the coming year – equivalent to around 6% of its total cost base.