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Mitchells & Butlers Shares News & Articles

FTSE higher on vaccine progress, ABF jumps on strong trading in grocery and sugar

The FTSE 100 opened 0.6% higher on Thursday at 6,196, following gains in Asian markets which were boosted by positive news on development of a vaccine by US firm Pfizer (NYSE:PFE). Travel related shares were strong following a government report that it will relax quarantine rules for around 75 countries, allowing Brits to go on holiday.  British Airlines owner IAG (IAG) was 4% higher while ...

Market report: Marks & Spencer slumps on poor Christmas clothing sales, Card Factory collapses on profit warning

London’s FTSE 100 started Thursday on the front foot, gaining 31.4 points to top the 7,600 mark as tensions between the US and Iran seemed to cool overnight. Corporate news was dominated by a flurry of festive updates from the hard-pressed retail sector, with the British Retail Consortium (BRC) stating that annual sales dipped in 2019 for the first time since 1995. Embattled retail giant ...

EI Group shareholders cheer 38.5% premium offer from Slug & Lettuce owner Stonegate

Pub company EI Group (EIG) has agreed an all cash offer of 285p from Stonegate Pubs, a private operator of 772 pubs and bars. The shares are trading at the offer price, up 38.5% from last night’s close. The acquisition values the company at £1.27bn pounds, and including debts equates to an enterprise value of £2.97bn, implying a multiple of 11.4 times EI Group’s underlying earnings before ...

Market Report: Merlin pressure rises as activist calls for action, Serco jumps on naval acquisition

UK stocks are in sharp reverse in early trade on Thursday as growing tensions between the US and China, and doubts over Theresa May's government leadership because of Brexit continue to gnaw away at investor confidence. The benchmark FTSE 100 slumps more than 80 points, or roughly 1.2%, to 7,247.66, although a swathe of companies going ex-dividend today (when new shareholders lose the right to ...

Mitchells & Butlers cans dividends to concentrate on pubs spruce-up and slashing debt

Pub operator Mitchells & Butlers (MAB) saw profits move marginally ahead in the latter six months of last year to 29 September, a welcome return to growth. But rising costs of food, drink, salaries and logistics continue to dampen performance overall. Operating profit, after stripping out a handful of one-off factors, slipped from £308m to £303m. That chimes with fairly lacklustre ...
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