Greene King brews strong growth
Suffolk pub and brewing business Greene King reports strong growth on the back of a retail sales surge in the 24 weeks to October 14.
The Bury St Edmunds company has boosted half-yearly group revenues 7.3 per cent to £566.2 million while profit before tax is 7. 1 per cent higher at £82.7m.
Rooney Anand, Greene King’s chief executive officer, said: “Our team has delivered another strong trading performance driven by 17 per cent profit growth in our retail division.
“We have continued to focus on providing excellent value, service and quality to our customers, while improving productivity and keeping tight control of costs. This has led to strong sales and profit growth, increased cashflow, improved returns and a stronger balance sheet.
“While we continue to see a challenging environment for the UK consumer, our strategy has been tailored for these conditions - we provide our customers with 'everyday treats' and value for money. We are confident we can generate further success and deliver sustainable earnings and dividend growth for our shareholders.”
He described current trading as resilient. Further retail expansion is also underway with an additional 20 sites acquired or transferred from Pub Partners.
• PHOTOGRAPH SHOWS: Rooney Anand. Picture courtesy – Greene King