Greene King delivers strong results in “demanding pub market”

1st December 2009, 10:40am

Pubco Greene King has announced pre-tax profits of £62 million for the 24 weeks ending 18th October 2009, up 2.8% on the same period last year.

Like-for-like sales also saw growth of 4.6% with operating margin now sitting at 22.2%.

Rooney Anand, chief executive of Greene King said he was very pleased with the firm's performance during the first half of the year: "Whilst the environment remains demanding, each one of our businesses has made substantial progress in their respective markets and profit growth has been achieved in Retail, Belhaven and Brewing Company.

"We have delivered additional value to our customers and offset most of the cost pressures with limited impact on our margins."

He added that the economic outlook remains uncertain for some: "Many companies have already failed to make it through the recession and more are likely to fail. Strong, focused and resilient businesses such as Greene King have prospered and I expect us to continue to do so, as we have a proven strategy, high calibre and motivated people, quality assets and the financial strength and flexibility to deliver another successful year."

Related Articles:

• 11 Jun 2010 - Greene King buys four pub restaurants from Punch Taverns

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