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Prices & Quotes - UK Markets - Mitchells & Butlers (MAB)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 310.80p
Change Today:
-21.40p
Market Cap:
1,853.43m
Sector:
Travel & Leisure

Wetherspoon rises but Sunak disappoints on pub support

By Sean Farrell

Date: Wednesday 03 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Shares of JD Wetherspoon and Mitchells & Butlers rose after Chancellor Rishi Sunak provided limited support for the UK's pubs in his budget.
Sunak extended the reduced 5% rate of VAT for hospitality businesses from 31 March to September followed by a still-lower rate of 12% until March 2022. The move should allow pubs currently shut under lockdown to benefit from lower VAT on food and soft drinks when they reopen.

Wetherspoon, which relies on food for about a third of its sales, were up 5.5% to 13.15 at 15:50 GMT though the shares were down from their session high of 13.32. M&B shares rose 5.2% but were also lower than their intraday peak.

There was no reduction of VAT on alcohol served in bars, leaving so-called wet-led pubs with no extra support though Sunak froze alcohol duty. Shares of Fuller, Smith & Turner, which brews its own beer and whose pubs rely more on alcohol sales, fell 4.5% to 854p.

Dawn Hopkins, vice-chair of the Campaign for Pubs, said: "Rishi Sunak either still doesn't understand or doesn't care about the classic community-led pub as he has yet again discriminated against them with a food-only VAT cut that funnels millions to the likes of McDonald's and KFC, who don't need it but does nothing for wet-led pubs."

Shares of Marston's, which sold most of its brewing business to Heineken last year and whose pubs concentrate on serving meals, rose 3.6% to 98.96p. Young & Co, which sold no longer brews beer, rose 3.6% to 14.81.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MAB Market Data

Currency UK Pounds
Price 310.80p
Change Today -21.40p
52 Week High 337.50p
52 Week Low 107.34p
Volume 976,440
Shares Issued 596.34m
Market Cap 1,853.43m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MAB Dividends

  Latest Previous
  Final Interim
Ex-Div 14-Dec-17 25-May-17
Paid 06-Feb-18 03-Jul-17
Amount 5.00p 2.50p

Trades for 11-May-2021

Time Volume / Share Price
16:35 188,537 @ 310.80p
16:30 1,000 @ 311.99p
16:29 22 @ 311.40p
16:29 12 @ 311.40p
16:29 174 @ 311.40p

MAB Key Personnel

Finance Director Timothy (Tim) Charles Jones
CEO Phil Urban