Regent Inns blamed increased competition and extra costs as a result of changes to the licensing laws when it reported pre-tax profits down from £6.5m at just £5m. But Mitchells & Butler expects full-year pre-tax profits to be at the top end of analysts' forecasts, while Wolverhampton & Dudley reports like-for-like sales at its managed pubs up 2.4%. The Independent on Sunday

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