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Greene King posts record retail revenue but full-year pre-tax profit drops

Wed, 01st Jul 2015 07:07

Pub group Greene King reported record retail revenue in its full-year results, although profit fell on the back of lower like-for-like sales and the impact of the disposal of 275 pubs to Hawthorn Leisure.Retail revenue for the 52 weeks to 3 May 2015 came in at £1bn, up from £963m last year, while total group revenue came in at £1.32bn from £1.3bn in 2014.Although overall pre-tax profit fell to £168.5m from £173.1m, this was a little better than analysts had expected.The board has recommended a final dividend of 21.8p per share, up 4.8% on last year, taking the total dividend for the year to 29.75p. The final dividend is expected to be paid on 14 September.Chief executive officer Rooney Anand said: "Greene King has delivered another record year in a challenging trading environment. We have delivered good underlying growth across all parts of the business with Retail generating revenue of over £1bn for the first time."Underlying earnings growth of over 9% has enabled a dividend increase of 4.8%, reflecting our confidence in the strength of the business and its prospects for future growth."Anand said the company has completed a successful five-year strategic plan, surpassing its goals as it delivered significant progress, changed the business mix and better positioned the group for the future."We now enter another exciting new phase in the company's history, with the acquisition of Spirit. We warmly welcome Spirit's employees and its shareholders to Greene King. The acquisition will further strengthen our platform to deliver sustainable, long-term success for the benefit of our customers, our employees and our shareholders," the CEO concluded.
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Greene King hails 'strong start' to year but warns over Brexit impact

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7 Jul 2016 08:52

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29 Jun 2016 13:30

CORRECTED-UPDATE 2-Pub firm Greene King expects to win market share post-Brexit

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29 Jun 2016 07:33

Greene King FY profit up 52%, but warns on Brexit impact

(ShareCast News) - Pub group Greene King reported a surge in full-year profit and revenue, partly thanks to its acquisition of Spirit Pub Company, but cautioned that Brexit was likely to hit consumer confidence in the near term. For the 52 weeks to 1 May, adjusted pre-tax profit rose 52.2% to £256.5

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29 Jun 2016 07:16

TOP NEWS: Greene King Warns On Consumer Confidence Post-Brexit

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'Casual dining' restaurants suffer but pubs bubble up, Coffer Peach finds

(ShareCast News) - Trading at larger UK pubs and restaurant groups slowed even further in May, with like-for-like sales down 1.4% year-on-year as a hefty decline at casual dining chains outweighed a small improvement for pubs. These findings from the Coffer Peach Business Trackers were the bigge

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19 May 2016 07:51

Pubs suffer tough April as restaurants enjoy further growth

(ShareCast News) - The restaurants and pubs sector endured a further decline in like-for-like sales in April, as wavering consumer confidence mixed with inclement weather. Like-for-like sales across managed pub and restaurant groups fell 0.8% against the same month last year, according to the Coffer

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Pub and restaurant sales fall flat in February, Peach Tracker finds

(ShareCast News) - Pub and restaurant sales were flat last month and the industry expects to endure a tougher year than last, according to a respected industry survey. The results of the monthly Peach Tracker, produced by CGA Peach in partnership with Coffer Group, RSM and UBS, found like-for-like s

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