19 May 2021 | 07:26am
StockMarketWire.com - 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.'