UK's Mitchells & Butlers gains on upbeat outlook
** Shares of Mitchells & Butlers MAB.L rise as much as 3% to 306p, stock among top pct gainers on FTSE 250 .FTSC index
** The pub group forecasts annual results at the upper end of market forecasts, buoyed by easing cost pressures despite flagging a slowdown in like-for-like sales growth in the fourth quarter of its fiscal year
** Co says net costs will reduce to about 55 mln pounds ($73.4 mln) in the financial year ending Sept. 28, helped by deflation in energy costs and slowing food cost inflation
** Stock at session high as of 0835 GMT, taking YTD gains to ~19%
($1 = 0.7492 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
