Greene King expects Olympics to boost business

PUBS and brewery group Greene King said its key retail business was helped by strong sales on Valentine’s Day, Mother’s Day and St Patrick’s Day, and it would benefit from the Queen’s Diamond Jubilee, Euro 2012 and the Olympics.
By The Newsroom
Published 23rd Apr 2012, 09:43 BST

The 213-year-old Suffolk-based firm, which operates 2,400 pubs, restaurants and hotels across England, Wales and Scotland, including over 50 pubs in Yorkshire, said like-for-like sales in 50 weeks to April 15 grew 4.6 per cent with a 4.5 per cent growth in the last 13 weeks.

Food like-for-like sales grew 6.3 per cent in 50 weeks to April 15 and 6.76 per cent in the last 13 weeks.

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“On Mother’s Day, we sold 220,000 meals, up 16 per cent on the previous year, with wine sales up 18 per cent”, the company said in a statement.

Greene King said its performance in the eating out business was helped by the launch of its new spring menus across a number of its retail brands and formats ahead of Easter. The company said its retail expansion strategy was on track with 37 new sites acquired and developed this year.

Greene King’s retail brand Hungry Horse had grown to 180 sites across the UK, the company said.

Pub Partners, the company’s tenanted, franchised and leased business, average EBITDA [earnings before interest, tax, depreciation and amortisation] per pub grew 3.8 per cent in 48 weeks, Greene King said.

The company said it continues to make strategic progress in Pub Partners with 97 non-core pubs disposals this year.

Related topics:Greene KingFoodWalesScotlandEnglandSuffolk