BusinessCompany NewsREIT conversion plans announced by Mitchells & Butlers

REIT conversion plans announced by Mitchells & Butlers

The plans will also see two executives from Robert Tchenguiz's investment vehicle, R20, join the board

Plans to convert to a REIT have been announced by pub group
Mitchells & Butlers, who are set to ‘actively explore
opportunities for managed pub and sector consolidation.’

The group showed a loss of £121m in the last six months to April 12 after
serious derivative costs with revenue flat at £995m.

Trading fared better during the first four weeks of the second half of the
financial year, with like-for-like sales up 3.4%.

The group said it intended to separate its property business from the
operating part of the group as part of its plan. This will also see two
executives from Robert Tchenguiz’s investment vehicle, R20, join the board,
Sharecast
reported.

Further reading:

M
&B brings Tchenguiz men on board

Overview: Mitchells & Butlers’ deputy must regroup

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor