Today’s news in brief – 27/11/24

Mitchells and Butlers total revenues hit £2.6bn in FY24, with like-for-like sales growing by 5.3%. This comes as the pub group has risen to a profit of £19m in its full-year results, up from a previous loss of £13m, following a strong trading performance. Post year-end, Mitchells and Butlers has reported a strong start to FY25.

Compass Catering saw operating profits rise 16.4% to $3bn (£2.38bn) for the year ended 30 September, while revenues increased 10.6% to $42.2bn (£33.5bn). For 2025, the company expects high single-digit underlying operating profit growth driven by organic revenue growth above 7.5% and ongoing margin progression.

British contract caterers saw sales grow 7% year-on-year in Q3, according to the latest Contract Catering Tracker from CGA by NIQ and Bidfood. The figure was slightly behind the rate of 10% in Q2 of this year, but sales over the last 12 months have increased 9%. Q3 also brought a small rise in the number of outlets served by contract caterers.

Licensee Amy Glenie has taken on her second Shepherd Neame pub, The Royal Sovereign, in Bexhill-on-Sea. This comes after she began managing The Blue Anchor in Crowborough with the Faversham-based family brewer and pub company in 2018. Glenie and her husband have redecorated throughout to offer a “lighter, stylish feel”.