Pub chain owner reports first half profits of £75m

Mitchells & Butlers, owner of chains such as Harvester, Toby Carvery and All Bar One has reported first half pre-tax profit of £75m, up from £69m a year earlier.

However, the company warned of “limited visibility” ahead due to Brexit uncertainty and oversupply in the casual dining market which has lead to a number of casualties in the industry.

“We continue to closely monitor Brexit developments and have been working to develop a contingency plan alongside our main supply chain partners, including the provision of additional storage facilities,” the company said.

“Should a no deal scenario take place we believe these actions will help mitigate and reduce the potential disruption.”