Company News
Mitchells & Butlers shares drop as full-year profits sink
Shares in Mitchells & Butlers dropped on Thursday after the restaurants, pubs and bars group reported a big drop in annual profits on the back of significant cost headwinds and property valuation movements, which outweighed strong sales growth over the year.
Mulberry losses widen amid investments
Luxury handbag maker Mulberry reported a widening of its half-year losses on Thursday as it pointed to additional investments and costs to support business growth.
Metro Bank to cut 20% of staff as it looks to save £50m a year
Metro Bank said on Thursday that it plans to axe around 20% of its staff and is reviewing its policy of keeping branches open seven days a week as it looks to save around £50m a year.
Me Group expects to miss revenue targets, but profits in line
Vending machine operator Me Group International said it expects to deliver annual revenues below guidance despite a record financial performance for the year.