LONDON (Alliance News) - Pub operator Greene King PLC on Tuesday said its like-for-like sales were higher in the first 18 weeks of its financial year, with solid performances across its divisions.
The FTSE 250 company said its like-for-like retail sales in the 18 weeks to September 6 rose 1.3% year on year, with 1.9% growth in the latter ten weeks of that period. Excluding the impact of drink-driving regulations put in place in Scotland, like-for-like retail sales were up 1.8% in the 18 weeks and up 2.4% for the ten week period.
Like-for-like sales in the Spirit managed estate rose 0.8%, Greene King said. The company acquired rival Spirit Pub earlier this year. In its Pub Partners arm, Greene King said its like-for-like net income was up 2.0% after 16 weeks of the financial year, and was up 1.1% in the Spirit leased estate.
Its Brewing & Brands, own-brewed volumes were up 1.7% in the 18 weeks, with good growth for its Old Speckled Hen, Greene King IPA and Abbot Ale brands and despite the tough comparatives a year earlier due to the football World Cup in 2014.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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