Latest news with #O'Neills
The Independent
22-05-2025
- Business
- The Independent
Toby Carvery owner toasts higher sales as pubs lead the way
Hospitality giant Mitchells & Butlers has toasted higher sales in recent months amid stronger spending from pubgoers, while the firm braces for a swathe of increased costs including wages and meat prices. The company, which owns brands including Toby Carvery, Harvester, and All Bar One, said its total sales were £1.5 billion over the 28 weeks to April 12. This was 4.3% higher than the same period a year ago, compared like-for-like, with a larger lift coming from drink sales than food. Chief executive Phil Urban said the performance was 'broad based', adding: 'Whilst we'll always have brands that are doing better than others, all our brands are doing well. 'It's been the case for the last two or three years that Nicholson's has led the way, closely followed by Sizzling Pubs, Vintage Inns, and Castle Pubs,' he told the PA news agency. 'Miller & Carter has had a solid six months so it's good to see that doing well.' But he said its Irish pub and bar chain O'Neill's was 'probably having the toughest time' due to challenges facing the late-night market. Mitchells's pre-tax profits jumped to £134 million from £108 million last year, it revealed. But the company is bracing for its costs to rise by about 5%, or £100 million, across the year – although it warned this could rise to as much as £130 million over the next financial year. This is set to be driven by a surge in labour costs caused by a higher national living wage and an increase to the rate of employer national insurance from April. It is also seeing food costs rise, especially meat, which meant it was forecasting a higher rate of overall inflation next year. 'But we are hard at work to mitigate that,' Mr Urban told PA. 'Steak is a big driver of those costs – we've got a steak brand so we're not going to compromise on quality.' Cost-saving efforts include shaking up menus at other brands and more efficient staff scheduling. The chief executive added: 'We and the sector will raise prices every year, I don't think there's any shame in that. 'Our pricing in recent years has ranged between about 3% and 5%. 'We base our pricing decisions on the market, looking at what our competitors are doing… but I would imagine that every operator in the sector with employer national insurance, before you even think about food costs, are having to think about prices again. ' Living wage has moved way ahead of inflation in the past three to four years, therefore some of that will be coming back into the sector. 'Today, a lot of our consumers have got more money in the pocket than they had before.'
The Independent
14-02-2025
- Business
- The Independent
Britain's most expensive beer in UK pubs revealed as average pint soars to above £5
The average cost of a pint of beer has soared to above £5 as the most expensive lager sold in British pubs has been revealed. Pub-goers can expect to shell out £5.08 for a pint of lager, more than £1 more than it would have cost three years ago, according to trade magazine The Morning Advertiser. This is also up from the £4.82 average figure reported by the Office of National Statistics in December 2024. Beavertown Neck Oil has overtaken Asahi to be the highest-priced pint, coming in at an average of £6.36. It is the most expensive in London, where it costs a whopping £6.92. The North East serves the cheapest Neck Oil at £5.70. The cheapest pint in the country was Scotland 's Tennent's lager, coming in at £4.02 in Britain's pubs. Pint price percentages rose in Wales by 3.5 per cent, the North West by 2.76 per cent, the South East by 2.54 per cent, London by 2.26 per cent and the South West by 0.8 per cent. London pubs were the only ones charging more than £6 for a pint of any variant, with the average costing £6.16. The cheapest pubs were in the Midlands, where the average pint costs just £4.47. Ten of 33 beers surveyed by the publication showed a drop in price, however. Greene King IPA, Abbot Ale, Wainwright and Camden Hells were all cheaper. BrewDog Punk IPA, Carling, Carlsberg, Pravha, Madri and Asahi were also cheaper across the UK compared to November. The Morning Advertiser carried out the new research for its MA Pint Price Survey in January 2025. It notes average prices can fluctuate so provide a snapshot in time. A prominent London pub recently sparked anger by implementing a £2 surcharge on pints ordered after 10pm as part of a surge pricing policy, without listing the price change on the menu. The O'Neills branch on Wardour Street, Soho has been raising its drink prices every evening, resulting in customers paying up to £9.40 for a pint. This policy has drawn accusations from consumer experts who claim the chain is exploiting customers by not properly advertising the price hike. It charged £7.40 for a pint of Brewdog IPA during the day and early evening. But after 10pm, the price jumps to £9.40. The only warning of the change was written on an A4 notice at the end of the bar, which reads: 'We operate a variable price list in this venue.' A spokesperson previously told The Independent: 'Most hospitality businesses and retailers deploy a form of dynamic pricing, but this means that prices can both rise as well as fall through tactical discounts being offered in the form of time-limited promotions and fixed price menus. 'Dynamic pricing varies on a site-by-site basis as it reflects the local market conditions, but temporary price increases tend to reflect the need to offset additional costs such as at times when door security is required.'
