LONDON (Alliance News) - Greene King PLC on Wednesday reported growth in sales in the 40 weeks to February 7 as well as in the two weeks over Christmas, and said it achieved record trading on Christmas Day.
The pub company said Greene King retail like-for-like sales were up 2.2% year-on-year in the 40 weeks, as like-for-like sales from the Spirit managed estate grew 1.1%. In the two Christmas weeks, Greene King like-for-like sales increased 5.0%, while Spirit like-for-likes rose 5.2%.
Meanwhile, Pub Partners, which comprises tenanted, franchised and leased pubs, saw its like-for-like net income grow 2.5% in the 40 weeks, while the Brewing & Brands division's own-brewed volume was up 3.9%, driven by growth in Greene King IPA and Old Speckled Hen.
Greene King said all divisions performed well during the festive period as it achieved record sales on Christmas Day of GBP6.8 million in the combined retail estate.
The integration of Spirit, which Greene King acquired last year, is going well, with "encouraging signs" from the rebranded trial sites so far and continued progress in terms of synergy delivery, Greene King added.
"Overall, our expectations for the full year are unchanged. Despite the current global economic uncertainty, we remain confident that we will deliver further value to our guests and shareholders by continuing to develop and enhance the existing Greene King business while successfully integrating Spirit," the company said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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