UK pub group Mitchells & Butlers annual profit falls as costs bite

(Reuters) - Mitchells & Butlers Plc on Thursday posted an about 8% fall in its annual profit, pulled down by higher input costs, although the British pub group forecast cost pressures to considerably abate in the 2024 fiscal year.

The owner of the Toby Carvery, Harvester, and All Bar One brands said its adjusted operating profit for the year ended Sept. 30 came in at 221 million pounds ($280.7 million), compared with 240 million pounds a year earlier.

($1 = 0.7873 pounds)

(Reporting by Radhika Anilkumar and Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips)