Mitchells & Butlers PLC (OTCPK:MBPFF)
$ 3.05 0 (0%) Market Cap: 1.83 Bil Enterprise Value: 3.65 Bil PE Ratio: 9.94 PB Ratio: 0.57 GF Score: 83/100
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Full Year 2019 Mitchells & Butlers PLC Earnings Call Transcript

Nov 20, 2019 / 08:15AM GMT
Release Date Price: $3.26
Timothy Charles Jones
Mitchells & Butlers plc - CFO & Director

Okay. Good morning. Thank you for joining us this morning. As always, I'd like to go through the financial results, and then I'll hand over to Phil. So let's make a start.

Overall, we think this is a really encouraging set of results, building a lot on the progress we've made over the last couple of years. That strong sales growth that's been consistently ahead of the market, and we're now starting to drive the growth in profits for the first time since the living wage was introduced in 2016. And we've been able to do that this year also at a higher -- the highest percentage margin. Looking forward, I think the environment still remains tough, and it still remains uncertain. We still have cost headwinds, in particular, and I'll talk a little bit about those. But most importantly, we believe we're really well placed now to face that challenge. We're getting a lot of the benefits of our Ignite 2 program starting to have a tangible difference for our income statement. And early in the new year, as we'll talk about, we're going

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