Mitchells & Butlers chief acquired 8,475 shares after FY results disappoint
Alistair Darby, the chief executive of Mitchells & Butlers, has acquired 8,475 shares in the group after the restaurants and pubs operator said a challenging market was to blame for its falling annual earnings and continuing lack of dividend.
FTSE 250
19,785.57
14:30 26/04/24
FTSE 350
4,459.76
14:30 26/04/24
FTSE All-Share
4,413.24
14:30 26/04/24
Mitchells & Butlers
237.00p
14:29 26/04/24
Travel & Leisure
7,568.97
14:30 26/04/24
Alistair Darby bought the shares at 348.46p apiece for a total spend of £29,532.
Although sales rose 4% year-on-year to £1.97bn, pre-tax profit before exceptional items rose 0.6% to £172m reflecting an expected decline in profit margins of roughly 50 basis points.
Statutory earnings fell 28% to 22.6p, but if exceptional items are stripped out earnings rose 1.2% to 32.6p.
"In the last year we have made significant progress, investing in the business for future growth. We completed the acquisition of Orchid, accelerated remodel and expansionary capex and have made a substantial investment in our systems,” said group chief executive Alistair Darby.
“At the same time we have maintained our focus on the delivery of our four key priorities. In the year ahead, we will continue these actions."
Top Director Buys
Rotala (ROL)
Director name: Mr Simon Lee Dunn
Amount purchased: 99,976 @ 55.00p
Value: £54,987
Mitchells & Butlers (MAB)
Director name: Mr Alistair W Darby
Amount purchased: 8,475 @ 348.46p
Value: £29,532
Utilico Investments Ltd (DI) (UTL)
Director name: Mr Eric St Clair Stobart
Amount purchased: 17,352 @ 116.50p
Value: £20,215
Imperial Innovations Group (IVO)
Director name: Mr Peter A Chambre
Amount purchased: 3,000 @ 455.00p
Value: £13,650
Future (FUTR)
Director name: Mr Peter Allen
Amount purchased: 125,000 @ 9.74p
Value: £12,175
Future (FUTR)
Director name: Ms Manjit Wolstenholme
Amount purchased: 120,000 @ 9.80p
Value: £11,760
Top Director Sells
Meggitt (MGGT)
Director name: Mr David Johnson
Amount sold: 2,500 @ 489.85p
Value: £12,246