Mitchells & Butlers flags challenging business environment on cost pressures

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(Reuters) – British restaurant and pub operator Mitchells & Butlers on Thursday flagged a challenging trading environment due to surging costs in the aftermath of the Ukraine conflict and low consumer spending amid a worsening cost-of-living crisis.

The company, which has about 1,700 restaurants and pubs in the United Kingdom, said quarterly like-for-like sales were up 0.9% compared with the same period in pre-pandemic 2019.