Pubs group Greene King to create 3,000 new jobs
Thursday 01 December 2011
The owner of Hungry Horse and Loch Fyne Restaurants said today that 3,000 new jobs are on the menu as it gears up for more growth in the eating-out market.
Suffolk-based Greene King wants to create the roles over three years as part of plans to boost its estate to 1,100 managed pubs and restaurants, up from 950 currently.
The expansion has been driven by strong food sales as consumers trade down from more expensive restaurant-only competitors.
Greene King said new sites and strong demand helped total food sales jump 16.3% in the first six months of its financial year.
Overall revenues were a record £527.5 million, up 9% on a year earlier, and meant profits for the group lifted by 5.6% to £73.1 million in the six months to October 16.
The company said today that there were more opportunities for growth.
"Our annualised food sales are over £300 million in a fragmented, growing UK market worth around £40 billion."
It added that current trading remained strong, with a 12% increase in Christmas bookings despite the current economic climate.
Rival Marston's is also expanding after pledging yesterday to build another 25 pubs in a move set to create 1,000 jobs over the next year.
Greene King, which currently employs 20,000 people across its managed pubs, brewing and tenanted pub division, has created 800 apprenticeships as part of its recent expansion and expects this figure to rise to around 2,000.
Keith Bowman, equity analyst at Hargreaves Lansdown stockbrokers, said: "While the consumer environment remains challenging, Greene King is another company proving that with the right offering, progress can still be made."
- 1 Lord Sewel quits: Peer 'boasts of having sex with BBC presenter and seeing 13 mistresses'
- 2 Kenya President Uhuru Kenyatta clashes with President Obama on LGBT equality: ‘Gay rights is really a non-issue’
- 3 Topshop pulls 'ridiculously skinny' mannequins after being shamed by customer on Facebook
- 4 Five-year-old boy forced classmate to simulate oral sex at primary school, claims mother
- 5 Black and ethnic minority people twice as likely to be hit by Tory cuts than white people, report finds
Mystery over deaths of 3,000 Napoleonic soldiers in mass grave has been solved
Boris Johnson apologises after giving his wife a 'backie' on his bike on the streets of London
Black and ethnic minority people twice as likely to be hit by Tory cuts than white people, report finds
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
Rolling Stones guitarist Keith Richards, 71, still enjoys 'an early morning joint' for breakfast
The 9 charts that show the 'left-wing' policies of Jeremy Corbyn the public actually agrees with
Labour leadership contender Jeremy Corbyn says 'we can learn a great deal from Karl Marx'
The last thing Labour needs is a leader like Jeremy Corbyn who people want to vote for
What the Labour party could look like under Jeremy Corbyn
I am the Jeremy Corbyn supporter that many will tell you doesn't exist
Public anger after French sunbather beaten up by gang for wearing a bikini in Reims park
iJobs Money & Business
£18000 - £40000 per annum: Recruitment Genius: This fast growing Insurance Bro...
£40 - 45k (DOE) + Benefits: Guru Careers: A Research Associate / Research Anal...
£30000 - £35000 per annum + benefits : Ashdown Group: Finance Accountant - Fin...
£90000 - £98000 per annum + benefits : Ashdown Group: A truly exciting opportu...