UK: M&B profits fall but sales future bright
The UK pubs group Mitchells & Butlers has seen its half year profits fall by 5% to £88m (US$155.6m).
However, the company said it had seen strong sales growth flowing through into early May, which meant it did not need to make any acquisitions at this time.
"Yes, we look at things, but we have such strong organic growth that we are not under pressure to make acquisitions," chief executive Tim Clarke told a conference call.
The fall in profit was due to increased interest payments after last year's re-financing and higher regulatory costs.
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