As indicated in the disappointing pre-close shared at the end of September, lfl revenue growth was a meagre 0.8% and overall revenue was up 6.6% to £2,101m. However, the underlying EBIT margin came in at 15.6% (vs. 15.9% in FY14), ahead of our estimate of 15.0%. Also, interest cost and taxes came in lower than our estimates. However, the company took a £65m revaluation charge relating to its property portfolio. The reported EPS came in at 25.11p (vs. our earlier estimate of 33.9p)
30 Nov 2015
Strategy reversal – profitability to drive business and capex rather than lfls
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Strategy reversal – profitability to drive business and capex rather than lfls
Mitchells & Butlers plc (MAB:LON) | 225 4 0.8% | Mkt Cap: 1,344m
- Published:
30 Nov 2015 -
Author:
Vibha Issar -
Pages:
3
As indicated in the disappointing pre-close shared at the end of September, lfl revenue growth was a meagre 0.8% and overall revenue was up 6.6% to £2,101m. However, the underlying EBIT margin came in at 15.6% (vs. 15.9% in FY14), ahead of our estimate of 15.0%. Also, interest cost and taxes came in lower than our estimates. However, the company took a £65m revaluation charge relating to its property portfolio. The reported EPS came in at 25.11p (vs. our earlier estimate of 33.9p)