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Thursday, December 9, 2021

Pub group Mitchells says rising costs since Brexit will hurt results

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-Mitchells & Butlers expects rising costs, supply chain issues and labour shortages since Brexit will “inevitably” have an impact on its performance in the current year, the British pub operator said on Thursday.

The comments come even as like-for-like sales for the eight weeks since the end of September grew 2.7%, compared to pre-pandemic levels.

Difficulty in finding workers and supply chain troubles going into the crucial holiday season have posed new challenges as the hospitality industry gets back on its feet after a year of prolonged closures and restrictions.

The company, which has 1,700 restaurants and pubs, said it was likely to face short-term supply issues related to material procurement and contractor availability, which it added might affect progress in the current financial year.

“Brexit remains an important event for the market and has created risks for the sector, principally around the supply and cost of products and workforce shortages,” the London-listed company said in a statement.

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