Investment column, page 22Reuse content
Greenalls, the UK's biggest independent pub group, expects to create more than 2,000 jobs with a pounds 375m capital expenditure programme over the next two years. The group, which in March announced a shake-up of its managed pub operation to save pounds 3.5m a year, said it expected to lift the number of its branded and concept outlets from around 360 to 500 by March 1999 under trading names such as Millers Kitchen, Henry's Table and Quincey's. Around two-thirds of the jobs will be part-time. Disposals this year are expected to raise around pounds 60m, including 100 tenanted pubs and four hotels from the De Vere chain. The group reported underlying pre-tax profits up 12 per cent to pounds 63.9m in the six months to March and is raising the interim dividend 7.7 per cent to 6.7p.