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Shares in the company behind All Bar One are crashing





A man sits in an All Bar One bar in Fulham March 13, 2003 in London. Six Continents, the world's biggest international hotelier, won its battle with hostile bidder Hugh Osmond when shareholders backed management plans to split the business in two. Shareholders first voted down Osmond's call to postpone the session and then backed the management's plan to separate Six Continents' InterContinental and Holiday Inn hotels from its restaurant and bar interests which include All Bar One and O'Neill's. (Photo by )

  • Mitchells & Butlers reports 18% fall in profits as fall in the pound pushes up costs.
  • Shares fall 10% at the open but have since recovered slightly.

LONDON — Shares in pub and restaurant owner Mitchells & Butlers are falling on Thursday morning after the company reported a steep fall in profits and warned of Brexit-related headwinds.

Mitchells & Butlers, which owns chains such as All Bar One, Toby Carvery, Harvesters, and Nicholson’s pubs, said that pre-tax profit for the year fell 18% to £77 million. Revenue rose 4.5% to £2.1 billion but rising costs meant the company failed to capitalise on read more >>>

Source:: BusinessInsider.Com

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