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Mitchells & Butlers losses deepen on lockdown hit
StockMarketWire.com
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Pub company Mitchells & Butlers booked a deeper first-half loss after the pandemic forced the temporary closure of its estate.
Pre-tax losses for the six months through March amounted to £200 million, compared to year-on-year losses of £121 million. Revenue tumbled 79% to £219 million.
Mitchells & Butlers said almost all of its sites were now open, trading indoors and outdoors.
The company was a 'high performing business' coming into the pandemic, chief executive Phil Urban said.
'With the support of our main stakeholders, we are now well placed to emerge in a strong competitive position and look forward to the removal of remaining trading restrictions in June such that the business is able to return again to full and sustainable profitability.'
Story provided by StockMarketWire.com
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