Greene King cheers a fine summer for pubs
Wednesday 04 September 2013
Summer sunshine has boosted Greene King, as the pubs and brewery company reported sales up 4.6 per cent in the first 18 weeks of its financial year, and showed growth of 5.6 per cent in the last 10.
"This performance has been helped by some one-off factors, including the feel-good factor from continued British sporting success and the arrival of the Royal baby, combined with much improved weather over the summer months," Greene King's chief executive Rooney Anand said.
The group, which includes Hungry Horse, Old English Inns and Loch Fyne restaurants, said the strongest growth had come in food and accommodation as more people took their holidays in the UK.
Beer sales are up by 2.7 per cent, with Old Speckled Hen leading the way with sales up 7.9 per cent.
Rival Punch Taverns also enjoyed a seasonal upturn in the final weeks of its financial year to mid-August. While sales for the 52 weeks fell by 2.4 per cent they were marginally up by 0.4 per cent in the final quarter.
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