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| Christmas parties set to be smaller this year, says pub boss | Christmas parties set to be smaller this year, says pub boss |
| (33 minutes later) | |
| Office Christmas parties will be smaller and more suburban this year, the boss of one of the UK's biggest pub groups has predicted. | Office Christmas parties will be smaller and more suburban this year, the boss of one of the UK's biggest pub groups has predicted. |
| Phil Urban of Mitchells & Butlers, which owns Browns, All Bar One and Harvester, told the BBC that seasonal work celebrations would be "different". | Phil Urban of Mitchells & Butlers, which owns Browns, All Bar One and Harvester, told the BBC that seasonal work celebrations would be "different". |
| "We won't see so many of those big office parties booked," he said. | "We won't see so many of those big office parties booked," he said. |
| After being hit during the pandemic the group has cut annual losses, but warned of soaring wage and energy costs. | After being hit during the pandemic the group has cut annual losses, but warned of soaring wage and energy costs. |
| Mitchells & Butlers (M&B) reported a pre-tax loss of £42m for the year to 25 September, although this was an improvement on the £123m loss it posted the previous year. | Mitchells & Butlers (M&B) reported a pre-tax loss of £42m for the year to 25 September, although this was an improvement on the £123m loss it posted the previous year. |
| Total revenue at the group fell to £1.07bn from £1.48bn, while like-for-like sales fell 9.6% after the group was affected by Covid-related restrictions. | |
| However, it said that in the eight weeks since the end of its financial year, like-for-like sales were up 2.7% on pre-pandemic levels. | |
| M&B, which employs more than 40,000 people across 1,700 sites, announced 1,300 job cuts last year. | |
| Mr Urban said: "The trading environment remains challenging and cost headwinds continue to put pressure on the sector. | Mr Urban said: "The trading environment remains challenging and cost headwinds continue to put pressure on the sector. |
| "However, we have strengthened our balance sheet and returned to profitability and cash generation." | "However, we have strengthened our balance sheet and returned to profitability and cash generation." |
| Cocktail sales up but ales out, says Wetherspoons | Cocktail sales up but ales out, says Wetherspoons |
| Wage rises will put 30p on a pint, says pub chain | Wage rises will put 30p on a pint, says pub chain |
| Pubs and restaurants counting on Christmas cheer | Pubs and restaurants counting on Christmas cheer |
| Talking about Christmas parties, Mr Urban told the BBC's Today programme that bookings were coming in as "people are recognising that actually they missed out last year". | Talking about Christmas parties, Mr Urban told the BBC's Today programme that bookings were coming in as "people are recognising that actually they missed out last year". |
| However, he forecast: "We might see more of the smaller groups meeting in suburbia and maybe not so much in the city centres." | However, he forecast: "We might see more of the smaller groups meeting in suburbia and maybe not so much in the city centres." |
| Meanwhile, with more people working from home, many workers may be loathe to have to bear the cost of travelling into a city location for a work celebration, analysts suggest. | Meanwhile, with more people working from home, many workers may be loathe to have to bear the cost of travelling into a city location for a work celebration, analysts suggest. |
| "Pub and restaurant operators traditionally thrive in December from Christmas parties," said Russ Mould, investment director at AJ Bell. | "Pub and restaurant operators traditionally thrive in December from Christmas parties," said Russ Mould, investment director at AJ Bell. |
| He said nervousness on behalf of many companies could see reduced staff party volumes, particularly as Covid rates are shooting up. | He said nervousness on behalf of many companies could see reduced staff party volumes, particularly as Covid rates are shooting up. |
| "Managers won't want to risk employees getting ill and a lot of people still feel uneasy about mixing in a crowded room." | "Managers won't want to risk employees getting ill and a lot of people still feel uneasy about mixing in a crowded room." |