{"id":4625,"date":"2025-11-28T19:03:37","date_gmt":"2025-11-28T19:03:37","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/toby-carvery-owner-hikes-menu-prices-as-it-faces-130-million-bill\/"},"modified":"2025-11-28T19:03:37","modified_gmt":"2025-11-28T19:03:37","slug":"toby-carvery-owner-hikes-menu-prices-as-it-faces-130-million-bill","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/toby-carvery-owner-hikes-menu-prices-as-it-faces-130-million-bill\/","title":{"rendered":"Toby Carvery owner hikes menu prices as it faces \u00a3130 million bill"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"main\">\n<div class=\"hydrate-root sc-10wlkbs-0\" data-component=\"Newsletter\" data-loading=\"lazy\" data-theme-name=\"base\">\n<aside class=\"sc-y4bm30-0 jwWhkK newsletter-component sc-1ge0fwe-0\" data-newsletter-key=\"receiveIndyBreakingNews\">\n<div class=\"sc-y4bm30-2 kcLSBk\"><\/div>\n<div class=\"sc-y4bm30-1 inRDZn\">\n<div class=\"sc-y4bm30-3\">\n<div class=\"sc-y4bm30-4 hfveGa\">\n<p><h3 class=\"sc-y4bm30-5 sc-y4bm30-6 fvoxRM fafQAy\">For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-8 fvoxRM fvWmZq\">Sign up to our free breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-7 fvoxRM hkVmms\">Sign up to our free breaking news emails<\/h3>\n<\/p>\n<p><svg class=\"sc-eaj12q-0 hKcUSR sc-culv3z-0 eifaJK sc-1ix0cah-0 PYnPb sc-y4bm30-10 fUEDPX\"><use href=\"#600f53465147d717\"\/><\/svg><\/div>\n<div class=\"sc-y4bm30-2 kcLSBk sc-y4bm30-9 iQYNfz\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/static-assets\/images\/newsletters\/breakingNews1_1.png\" loading=\"lazy\" alt=\"Breaking News\" class=\"sc-1mc30lb-0 ggpMaE\"\/><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<p>The pub group behind <a href=\"https:\/\/www.independent.co.uk\/topic\/toby-carvery\">Toby Carvery<\/a> has hiked prices across its menu as it faces an extra \u00a3130 million in costs in the year ahead.<\/p>\n<p><a href=\"https:\/\/www.independent.co.uk\/topic\/mitchells-butlers\">Mitchells &amp; Butlers<\/a> said steak prices had risen 30 per cent, which is particularly impacting its <a href=\"https:\/\/www.independent.co.uk\/topic\/toby-carvery\">Toby Carvery<\/a> eateries and Miller &amp; Carter steak restaurants chain.<\/p>\n<p>Phil Urban, chief executive of Mitchells &amp; Butlers (M&amp;B), told the Press Association the group had raised prices by 3.2 per cent on average across its menus and drinks since the start of October to offset the hit and other cost pressures.<\/p>\n<p>The group \u2013 which also owns brands such as <a href=\"https:\/\/www.independent.co.uk\/topic\/all-bar-one\">All Bar One<\/a> and Harvester \u2013 warned it is set for additional costs from a soaring wage bill and the rising beef prices.<\/p>\n<p>This compares with extra costs of about \u00a3100 million in the past financial year, which came after April\u2019s national insurance contribution and minimum wage hike, as well as food price inflation.<\/p>\n<div class=\"sc-awdjp1-2 cbpRGD sc-awdjp1-3 image align-center\">\n<figure class=\"sc-1cbdeug-0 cXcwgU\">\n<div data-gallery-length=\"2\" class=\"sc-awdjp1-0 jvCzAo\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/2025\/11\/28\/12\/28122303-1f698612-6078-4068-864a-fb1aa2040b7d.jpg\" srcset=\"https:\/\/static.independent.co.uk\/2025\/11\/28\/12\/28122303-1f698612-6078-4068-864a-fb1aa2040b7d.jpg?quality=75&amp;width=320&amp;auto=webp 320w, https:\/\/static.independent.co.uk\/2025\/11\/28\/12\/28122303-1f698612-6078-4068-864a-fb1aa2040b7d.jpg?quality=75&amp;width=640&amp;auto=webp 640w\" loading=\"lazy\" alt=\"Toby Carvery owner Mitchells &amp; Butlers has hiked prices across its menu\" class=\"sc-1mc30lb-0 ggpMaE inline-gallery-btn\"\/><\/p>\n<p><button class=\"sc-1uf4o3q-0 dkRtZs inline-gallery-btn\" id=\"trigger-autogallery-213918\"><span class=\"sc-1uf4o3q-1 hwVecx\">open image in gallery<\/span><\/button><\/p>\n<\/div><figcaption class=\"sc-1cbdeug-1 sc-1cbdeug-3 gtVitN hgzWpY\">Toby Carvery owner Mitchells &amp; Butlers has hiked prices across its menu<span class=\"sc-1cbdeug-7 exGSyR\"> <!-- -->(<!-- -->Alamy\/PA<!-- -->)<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Mr Urban said the additional \u00a330 million was largely being driven by the jump in beef and steak prices.<\/p>\n<p>But he said the group cannot pass on the full hit of its cost pressures to customers, who \u201cjust wouldn\u2019t eat steak\u201d if prices became too high.<\/p>\n<p>He told PA the Miller &amp; Carter brand would \u201cgo backwards this year\u201d due to the steak price hike, but added that M&amp;B can offset the hit through growth in its other brands.<\/p>\n<p>He said: \u201cSome of our competitors have taken steak off the menu entirely.<\/p>\n<p>\u201cWhere steak is not the core product, we have reduced the number of steak and beef dishes or re-engineered the menu.<\/p>\n<p>\u201cWhat I won\u2019t do is change the quality of the meat or the portion size\u2026 and nor can we pass all that (cost increase) on to the customer.\u201d<\/p>\n<p>Mr Urban said steak prices have gone up due to a \u201cperfect storm\u201d of impacts on beef supply in the UK and worldwide, but he expects it to be a \u201cblip\u201d and hopes costs will come back down in the next year or so.<\/p>\n<p>M&amp;B added that the additional bill of about \u00a3130 million for the year to next September also includes a \u201cpreliminary assessment of the impact of the Chancellor\u2019s recent autumn <a href=\"https:\/\/www.independent.co.uk\/topic\/budget\">Budget<\/a>\u201d.<\/p>\n<div class=\"sc-awdjp1-2 cbpRGD sc-awdjp1-3 image align-center\">\n<figure class=\"sc-1cbdeug-0 cXcwgU\">\n<div data-gallery-length=\"2\" class=\"sc-awdjp1-0 egKHOW\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/2025\/11\/28\/08\/bd92ac56742884785f305a6b66d81ae8Y29udGVudHNlYXJjaGFwaSwxNzY0NDAzMTg5-2.72204870.jpg\" srcset=\"https:\/\/static.independent.co.uk\/2025\/11\/28\/08\/bd92ac56742884785f305a6b66d81ae8Y29udGVudHNlYXJjaGFwaSwxNzY0NDAzMTg5-2.72204870.jpg?quality=75&amp;width=320&amp;auto=webp 320w, https:\/\/static.independent.co.uk\/2025\/11\/28\/08\/bd92ac56742884785f305a6b66d81ae8Y29udGVudHNlYXJjaGFwaSwxNzY0NDAzMTg5-2.72204870.jpg?quality=75&amp;width=640&amp;auto=webp 640w\" loading=\"lazy\" alt=\"Mitchells &amp; Butlers also owns brands such as All Bar One and Harvester\" class=\"sc-1mc30lb-0 ggpMaE inline-gallery-btn\"\/><\/p>\n<p><button class=\"sc-1uf4o3q-0 dkRtZs inline-gallery-btn\" id=\"trigger-autogallery-213919\"><span class=\"sc-1uf4o3q-1 hwVecx\">open image in gallery<\/span><\/button><\/p>\n<\/div><figcaption class=\"sc-1cbdeug-1 sc-1cbdeug-3 gtVitN hgzWpY\">Mitchells &amp; Butlers also owns brands such as All Bar One and Harvester<span class=\"sc-1cbdeug-7 exGSyR\"> <!-- -->(<!-- -->Mitchells &amp; Butlers<!-- -->)<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The government announced earlier this week that the minimum wage will jump by another 4.1 per cent from April.<\/p>\n<p>The Budget delivered a further blow to many firms such as pubs, restaurants and small shops, which are expected to see property tax payments surge from the next financial year.<\/p>\n<p>Mr Urban said the property tax changes were \u201csuper disappointing\u201d for the sector, but added that smaller players would bear most of the cost, with larger groups such as M&amp;B facing a \u201cmodest increase\u201d.<\/p>\n<p>M&amp;B\u2019s full-year results on Friday showed pre-tax profits rising by a fifth to \u00a3238 million in the year to September 27, despite the extra costs of April\u2019s wage bill increases.<\/p>\n<p>The firm has been taking action to make savings in the face of cost headwinds, including through a labour scheduling system and auto-ordering to keep stock levels in check and minimise waste, alongside energy-saving measures.<\/p>\n<p>Like-for-like sales were up 4.3 per cent over the year, but growth slipped to 3.2 per cent in the final quarter due to weaker trading in and around the <a href=\"https:\/\/www.independent.co.uk\/topic\/london\">London<\/a> area and in more premium brands.<\/p>\n<p>Sales growth was 3.8 per cent in the first eight weeks of the new financial year.<\/p>\n<p>Mr Urban added that sales had been weighed on in the run-up to the Budget with many consumers \u201cunnerved\u201d by speculation in the weeks beforehand.<\/p>\n<p>He said people are \u201crelieved that it\u2019s come and gone\u201d and will \u201cgo out and enjoy themselves and worry about it in January\u201d.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.independent.co.uk\/news\/business\/toby-carvery-menu-prices-hike-mitchells-butlers-b2874597.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails The pub group behind Toby Carvery has hiked prices across its menu as it faces an extra \u00a3130 million in&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/toby-carvery-owner-hikes-menu-prices-as-it-faces-130-million-bill\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Toby Carvery owner hikes menu prices as it faces \u00a3130 million bill&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":4626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/static.independent.co.uk\/s3fs-public\/thumbnails\/image\/2015\/11\/06\/18\/Carvery.jpg?width=1200&height=800&crop=1200:800","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-4625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Toby Carvery owner hikes menu prices as it faces \u00a3130 million bill - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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