Profits rise at All Bar One owner

Pub and restaurant chain Mitchells & Butlers has announced better-than-expected full-year profits, boosted by improved food sales.

The company operates brands including All Bar One, O'Neills and Toby Carvery, serving 130m meals and 420m drinks each year.

Adjusted pre-tax profits for the year to 22 September rose to £162m from £156m, while like-for-like sales were up 2.1 per cent.

"This year we have initiated a significant cultural change programme focused on streamlining internal processes and placing the guest at the heart of everything we do," said non-executive chairman Bob Ivell.

"We have restructured the way we support our operations teams, reduced our central costs and increased the accountability of our senior executives for their brands."