The Birmingham-based business saw profits drop by about a quarter last year because of inflationary pressures
Mitchells & Butlers "operating profit plunged by £26m to £98m in the 53 weeks to the end of September as high energy and food costs and a decline in mortgage valuations weighed on earnings.
"While we remain conscious of the pressures facing the British consumer, the strength of our sales growth combined with a declining cost environment gives us confidence for the financial year ahead." - Phil Urban
Philip Charles Urban is CEO of Mitchells & Butlers, which runs around 1,700 managed pubs,
Phil Urban, M & B's general manager, added: "While we remain conscious of the pressures facing the British consumer, the strength of our sales growth combined with a declining cost environment gives us confidence for the financial
year ahead."
The company's comparable sales growth was 7.2 per cent since October from 9.1 per cent in the previous 12 months, which was a record gain over the wider market.
"Whilst we remain mindful of the pressures that the UK consumer is facing, the strength of our sales growth alongside an abating cost environment gives us confidence for the financial year ahead." - Phil Urban
Philip Charles Urban is CEO of Mitchells & Butlers, which runs around 1,700 managed pubs,
Business rates cuts and lower VAT on hospitality accounted for £53 million last year - an improvement over the previous year.
Retail in its Central London branches has benefited from a pick-up in domestic tourists and workers who come periodically to the office.
M & B's results come one week after it announced a range of new measures to support Britain's troubled hotel sector in the autumn.