May 17, 2017 / 6:22 AM / in 2 months

BRIEF-Mitchells & Butlers posts H1 pretax profit of 75 mln pounds

2 Min Read

May 17 (Reuters) - Mitchells & Butlers Plc

* H1 pretax profit 75 million stg versus 83 million stg year ago

* Interim dividend 2.5 penceper share

* H1 like-for-like sales a up 1.6% at half year and up 1.9% a in first 33 weeks of year

* H1 adjusted operating profit of £149m b (H1 2016 £156m)

* Interim dividend of 2.5p (H1 2016 2.5p)

* H1 total revenue of £1,123m (H1 2016 £1,096m)

* Consumer confidence has remained fragile throughout 2016 and 2017, whilst spending remains in growth, albeit at a slowing rate

* H1 operating profit of £145m (H1 2016 £157m)

* There is clearly some caution over future demand

* In UK, have seen headline inflation figures start to rise recently and, more specifically, wholesale food inflation

* Cost outlook for year is unchanged from that set out in full-year results last November and continues to present a challenge

* Continue to monitor own prices carefully; have carried out some price adjustments, including both price increases and price reductions in local mkts

* Now not seeing same level of new openings as two years ago, but marketplace remains highly competitive Source text for Eikon: Further company coverage:

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